6 Ways Insurance Firms Gain a Competitive Edge with Mobile Apps
July 18, 2016
Insurance companies and claims adjusters deal with a mountain of paperwork everyday. Incident reports, insurance quotes, vehicle inspections, and home assessments are a few tasks that can quickly pile up on their to-do lists. With forms completed in the office and more coming from the field, it's always tough to keep up.
Paper forms pose a challenge in various ways. Re-keying field data is troublesome, updating claim forms with new policies is a hassle, and retracing crucial details takes up valuable time. Insurance firms are continuously looking for solutions that improve productivity and speed up the claims process, two areas that have always been pain points. Keeping up with the industry's changing needs and demanding workflows is tough with paper forms, which will soon enough, become obsolete.
Mobile apps are now paving the way. In an industry where paperwork is heavy and regulations are strict, mobile forms are making it easy to remain compliant, enable faster processes and save more time. Here's a look at 6 ways mobile apps are revolutionizing the way insurance firms do business:
1. Richer Data Capture
Electronic forms offer to easy way to automate data collected in the field for better consistency and higher quality. Mobile forms can be configured to include mandatory fields, custom data validation rules and guided form logic to make sure mistakes are avoided and complete data is filled out before the form is submitted. Employees can access benefit booklets, claim details, and incident reports for any clarifications and inquiries on the spot.
2. End-to-End Control
Insurance processes are always changing in order to adhere to client wishes, fluctuating government rules and new policies. With a mobile solution, create forms tailored to your business needs and make app updates anytime, anywhere. Modifications are published across all platforms so your business can instantly adapt and comply with revised provincial and federal insurance legislations.
3. Efficient Claims Processing
With so many new claims coming in daily, it's important to complete forms quickly and not fall behind. Mobile forms can include drop-down menus, look ups, and reference data tables to speed up data entry for field staff. Field data can be submitted to the office with a click of a button, and easily distributed so you can move onto the next step in the claims process. Less time is spent filling out forms, and field information is delivered promptly to improve claims turnaround time.
4. Real-time Flow of Information
Site visits and in-person assessments are necessary but time-consuming field activities. With instant sharing of information and two-way data flow, a mobile solution lets you view data in real time and catch missteps while staff are still in the field. Hours can be saved by avoiding site revisits, administrative rework, and repeated approvals. And when network coverage is poor, offline functionality lets field staff carry on and get the job done.
5. Improved Client Relationships
Whether your clients are insurers, adjusters, claimants or policyholders, you need to always keep everyone involved in the decision-making process. Mobile forms can include time-stamped photos, digital signatures, and GPS locations to help support cases and final settlement amounts. These details improve transparency with clients, building trust in your reliability.
6. Management Visibility
It's imperative that managers are informed about daily business activities. Fully connected mobile systems enable managers to view field data about ongoing claims, pending evaluations and failed inspections, all in real time. Automatic email notifications of completed claims can be triggered and reports can be sent regularly to management, so they can gain better insight about day-to-day operations.
Industry-leading insurance firms and adjusters use Flowfinity's flexible enterprise mobility solution to automate business processes. To find out how we can streamline your claims management, start a free 30-day trial today.
Transform your business with mobile apps.