How Request Management Could Improve the Homeowners Insurance Claim Process

By Nancy Nafziger

Imagine coming home after a vacation and finding your house robbed of all your personal belongings. In the back of our minds we think, “It will never happen to me…” But, I’m here to tell you, it did happen to me! And to describe how insurance companies can vastly improve their homeowners’ claims process with a request management system.

What happens after you are robbed?

Once a police report is filed, you need to contact your insurance agent. The agent will file the claim and a claim representative will contact you. The claim representative will send you manual inventory forms and email you a link to download electronic inventory forms. On the inventory forms you will list your personal belongings that need to be replaced. The inventory list includes item number, item name, manufacturer, purchase location, replacement value and other miscellaneous information/documentation. You need to submit the forms via snail mail or scan the forms and email them back to the claim representative. That’s right—no online option!

What happens after you file a claim?

After the claim representative receives your inventory forms via mail or scanned images in email, claims are processed in the order in which they are received. The claim rep reviews the forms for approval. Then he or she delivers the forms to a data entry person who manually enters the inventory lists and delivers the inventory list back to the claims rep. The claim rep and or other staff member researches the recorded replacement values you listed for accuracy. This is a manual and time-consuming process. Since I market Kinetic Data’s products, I know there is a more efficient way to process claims.

How can insurance companies and their customers benefit from a request management system?

Insurance companies can dramatically improve operational efficiency (not to mention making the process simpler for their customers) by revamping processes and implementing a request management tool. The workflow automation provided by a request management tool will reduce costs by rapidly and efficiently increasing the speed of their claim process.

Imagine the cost savings on staff labor time if the electronic inventory forms were emailed (or information was entered directly online) and inventory data was retained so that the data entry person did not have to re-enter the inventory? And the reduction in data entry errors? And the time saved by using an automated workflow so that an insurance rep doesn’t have to manually obtain approvals?

Insurance companies have multiple requirements for their claim processes. Therefore, processes require flexibility. Within a request management tool like Kinetic Request, its workflow engine, Kinetic Task, provides the flexibility to deal with the multiple requirements needed by different claim processes. Companies can improve control and automate tasks and approvals with Kinetic Request.

With a request management tool, insurance companies will retain loyal customers. Request management tools offer self-service customer portals. Insurance agencies can configure the customer portal to enable claim status checks—24/7. If a customer is pleased with their claim fulfillment experience, and understands that the claim was processed in a rapid and efficient way, the customer will continue their homeowner’s policy with his or her insurance company and not search for a new one. The customer may even recommend the company to friends.

Home inventory list

One last thought since robbers don’t give you advance warning, I recommend protecting your property by producing a home inventory list. This takes time, but the frustrations it will save you later will more than make up for it!

 

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