The Background  

With over three decades of experience and annual revenue exceeding USD 6 Million, the client is an independent full-service insurance adjusting company based out of the US, offering a complete range of services, including residential, commercial, daily, and catastrophe claims management across the country. They partner with businesses of all sizes and are driven by their commitment to providing a prompt claim handling experience. Additionally, with an emphasis on customer experience & quality service, they leverage an innovative suite of proprietary technologies to maximize the customer experience, proven by them consistently having one of the fastest cycle times in the industry.  

 

The Challenge  

The insurance industry, traditionally known for its slow adoption of technology and over-dependence on manual operations, is unfortunately notorious for poor customer experience, lack of transparency & delay in claims processing, hoarding of documents, mismanagement of resources, operational roadblocks, and lack of accountability.   

The client’s adjusters found it challenging to collaborate effectively and process information from the field, affecting the claims management processing time, leading to unsatisfied clients. Without a proper system to handle information gathered on the field, the long repetitive manual form-fills, errors, and omissions in underwriting, long turnaround times, inability to process unstructured data lead to frustrated customers. The client wanted to address these issues with a customized solution and partner with an experienced IT vendor. At this stage, Experion stepped in and decided to undertake this challenge.  

 

The Solution  

 Experion’s team of business analysts, architects, engineers, and UI/UX consultants collaborated with the client, studied the existing claims management solution, and found that the code was only 30% usable. However, as they progressed with the re-engineering, they identified business-critical features and enriched the claims management system under development.    

Our team developed and incorporated Artificial Intelligence & Machine Learning-based model for damage detection, a dedicated portal for the insured to ensure seamless and smooth communication with the insured, a mobile interface (Android & iOS) for field inspection to assess the loss. These features enabled the client to bring about disruptive changes in their operational processes in digital claims management, claims adjustment, underwriting, fraud detection, and customer experience. The developed claims management system also offers insightful reports to senior management by leveraging advanced data analytics, enabling them to make thoughtful decisions.   

The AI-enabled damage detection feature allows for recognizing the damage, assessing the damage, making predictions about what kind of action is needed, and also provides cost estimation. It also helps in fraud detection by cross-checking the damage with the cost, and the quotes are collected efficiently and effectively. As a result, the digital claims management module digitalized the traditional labor-intensive claims management process, reduced the over-dependencies on manual operations, and increased business efficiency. Enriched with automation features, the claims management system extracts and functions structured and unstructured data, helping insurers unlock meaningful insights and offer personalized offerings to customers.      

The claims management system also has an integrated payment system that streamlines the entire payment processing operation, eliminating possible errors. It also offers adjuster team management and performance assessment modules that enable effective team collaboration, performance reviews, competency evaluation, and productivity analysis.  

 

Key Technologies: 

  • .NET 4.6, ASP .NET MVC 
  • Angular JS, jQuery, CSS 
  • React Native 
  • SQL Server 2016

 

The Payoff  

  • A faster claims management process   
  • Improved customer experience  
  • Enhanced transparency for all stakeholders  
  • Increased claims & process efficiency  
  • Advanced reporting and insightful analysis  
  • Reduced operational costs