Insurance Solutions

Claims Management
Software Solutions

Connected Devices and Smart Data in Insurance Claims

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We have extensive industry knowledge and a broad expertise in digital projects covering paperless quote and bind flows, automation of the claims process through AI, fraud detection using machine learning algorithms across personal and commercial lines, corporate and specialty.

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insurance claim management system

What is Claims Management?

For an insurance organization, the settling of losses and adjusting differences between a loss and the policyholder is known as a claims management system.

Today’s claims processes face customer experience expectations built in a world of instant communication and digital-native businesses. Now, you can fulfil those expectations and stop being held back by systems designed for a world that no longer exists.

insurance claims process

How will IoT technology reshape the insurance claims system?

Data gathered from Internet of Things can facilitate the creation of personalized services and products. Furthermore, rather than filling out paper forms, customers can now submit claims via mobile devices by taking a photo.

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Increasing Customer Satisfaction for Policyholders

Incorporating data-driven technology in the claims system can help minimize the time for a filed claim to reach completion: shorter wait times, quicker claim disbursements and enhanced information provided to customers, such as an app for customers to track the progress of their claims processing.

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Increasing Accuracy
with IoT Data

Connected devices inside vehicles and homes are collecting data constantly, which is recorded with a high level of accuracy.

This IoT data is neutral, based on metric facts, can serve as a strong basis for a claim and enhance further investigation of claims, while also minimizing the potential for fraud.

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Improving Insurance Claims Management System with IoT Data

IoT systems can sometimes produce data that is not completely accurate due to faulty sensors or false alarms, and this can conflict with policyholders’ recollection of events. A strong network connection, with a high level of built-in security, can help minimize these kinds of inaccuracies.

Customer perception can be significantly affected when insurers ask for access to collected data from devices associated with an insured property. To ensure that customers feel trusted, it is important to prioritize transparency around usage of IoT data for insurance claims process. Therefore customers can fully understand how the information from their connected devices is being used.

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How can we help you?

We offer claims management software solutions that empower insurance companies to drive a unified, omnichannel claims experience in order to maximize the efficiency of the claims processing.

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global hq & uk office London, United Kingdom

New Broad Street House, 35 New Broad Street, London, EC2M 1NH

romania hq & delivery center Bucharest, Romania

4D Gara Herastrau Street, 2nd Floor
Building C, 020334

+40 31 425 19 08

engineering delivery center Craiova, Romania

30 Stirbei Voda Blvd,
Malmo Business Center, 200423

+40 35 142 36 80

let’s get in touch E-mail us at

accelerate@softelligence.net