3 Reasons to Outsource Your Claims
A smooth claims process can save your insurance company from expensive disputes, unhappy policyholders, bad reviews, and unintended costs. The weight of small mistakes resulting in a disputed claim can be severe, and the benefits of hiring help can be dramatic. That’s why many insurance companies turn to outsourcing.
Whether you’re experiencing turnover, looking for part-time help from a seasonal or unexpected influx in claims, or are in need of a permanent 3rd party partner, outsourcing your claims means that your in-house staff can breathe easy knowing that one of the most critical parts of the job is being handled by experts with decades of experience.
Still need some convincing? Let’s get into it. Here are the three main reasons to outsource your claims:
1. Reduce Claim Disputes & Processing Costs
Gain Industry Expertise
By allowing claim experts to work on your claims, your company can benefit off of their niche expertise, certifications, and skilled knowledge. Outsourced claims adjusters have years of experience handling large volumes of claims and know the process better than your in-house staff could. Dealing with water mitigation claims? Outsource to a company with the llCRC certifications needed to ensure that you’re not left with an inflated contractor mitigation estimate.
All of this experience means that no matter the claim, they thoroughly understand the procedure and save your in-house staff from spending costly hours catching up on this knowledge.
Pay What’s Owed. That’s it.
Outsourced professionals reduce the risk of overlooking a key detail that will cost your business money and save you from dealing with a frustrated customer. Their expertise can identify overages or inflated estimates that can lead to high loss expenses. Catching these inaccuracies means that you only pay what you owe, keeping you and your customers happy.
Access Competitive Tech
Our industry is rapidly, and consistently, changing. Hiring an outsourcing company means that you can gain access to the technology that will streamline processes and save you money.
An outsourcing company can utilize the tech they already have and know and create customized solutions for your company. Instead of trying to adopt technologies yourself–taking unnecessary time and resources–hiring an outsourcing team means they provide the expertise, and you don’t have to spend time learning or training your staff to see results.
Comsearch’s team is equipped with time-saving tools such as PhotoWrite and ProCheck. Adding these two technologies will provide a cost-effective and time-saving tool to help streamline your claims processes.
2. Streamline In-House Operations
When outsourced specialists are handling your claims, your insurance adjusters don’t have to. Give your insurance adjusters the time they need to focus on their roles and areas of expertise by eliminating the day-to-day claims processing, freeing up their time for customer-impacting tasks that lead to greater policyholder retention.
3. Improve Customer Experience
Creating an efficient claims process inevitably helps with customer experience. Not only does outsourcing shorten cycle times and reduce the risk of mistakes, but outsourced experts can walk your insured through parts of the claim handling process with accuracy and speed.
An outsourced hire that provides services to help streamline the claims process will take on the role of contacting the insured to help them navigate the process. Some solutions Comsearch provides and coordinates with your insured on are:
- PhotoWrite: an application that enables the insured to publish a photo of low severity auto damages
- Repair Shop Coordination: designed to expedite claims when your insured selects a repair shop out of your DRP network
Providing your insured with solutions that shorten their cycle time means that you’re more likely to benefit from consistent positive customer experiences.
Comsearch is devoted to accuracy, constantly raising the bar for efficiency, and tirelessly seeking opportunities to create something brand new. We’re about doing property and auto claims services better, no matter what it takes. Because we know that growing your business isn’t just about getting more leads, it’s about efficiency and staying ahead of the trends. We’re your trusted claims advisor, partner, team extension to continue a reputation worth paying for.