Plan for Catastrophic Claims
Catastrophic weather is a risk that is difficult to predict, making it a stressful liability for businesses. In early spring, AccuWeather predicted an increase of tornado activity outside the more predictable "Tornado Alley," which leads to the unpredictability of seasonal fluctuations, wreaking havoc and devastation on customers and clients. The insurance industry is acutely aware that with severe weather, claims managers will see a rapid increase in new claims from claimants looking for expedited claim resolution so they can begin to repair or rebuild.
Risk and Workloads
Planning for catastrophe claims is not new, and calculating risk is understanding they can strike at any time. It is easier to determine whether risks associated with geographic conditions are calculable with predictive modeling solutions. Utilizing integrated workflow tools such as linking policies and location maintenance to catastrophe claims is essential to efficiently process those claims.
As with all disasters, claims administrators look to expedite claims from first notice of loss to closure. Naturally, there is also an uptick in workload on adjusters when catastrophe strikes. We can lessen the workload by business automation, letter templates, and autofill capabilities from HR databases, allowing adjusters to communicate and close catastrophe claims quickly.
Solution
JW Software can help your business manage the risks and claims with our claims management software, FileHandler Enterprise. Catastrophe claim linking capabilities, allow users not only the ability to escalate claims but to highlight claims with a shared catastrophe number for ease of tracking. Accident location tools also allow the user to quickly view the location on an integrated map.
To help expedite the claims management process and increase productivity, FileHandler Enterprise also has:
- Live Dashboards including drillable location maps
- Email and Letter Templates
- A Live Notification/Task Panel
With our first notice of loss capabilities, agents and customers can keep you updated with new claims.
If you, like many Insurance Carriers, TPAs, and Self-Insured Companies, want to be prepared to manage a sudden influx of claims, we can help you. To find out more, fill out the form below, and schedule a free demo of our software.
