Virtual Claims Handling is the process by which a customer or vendor takes photos or video of property/vehicle damage, then uploads those images to their insurer, where an adjuster conducts the assessment remotely. No insurance employee conducts a physical on-site inspection of the vehicle or property.
According to LexisNexis, 38% of insurers now utilize Virtual Claims Handling, resulting in cycle times of 2 to 3 days as compared to 10 to 15 days for those using traditional methods. In addition to delivering a superior claims experience with significantly reduced touch points, insurers using Virtual Claims Handling also see a reduction in the expenses associated with investigating and settling those claims.
Given the success of Virtual Claims Handling, shouldn’t more insurers consider a completely touchless claims process? Read this issue brief to learn more.