Documentation and Storage: The Backbone of Your Claims Process

Working for a cutting edge insurtech company like Livegenic is always fascinating - I love getting to write up articles about the latest advancements in the insurance space and how we’re helping the industry move into the future. There are, however, some topics that may not be quite as flashy or exciting as AI or Augmented Reality, but are just as critical to an organization’s success in the modern insurance market:

Documentation, Storage, and Compliance

All three are extremely important to any claims company, and Livegenic can be an extremely valuable asset to each of them.

Documentation and Storage

The drawbacks of manual document management are obvious; content can be damaged or corrupted, important metadata can be scrubbed, unlinked files can be lost or separated from their associated claims; not to mention the amount of time and effort spent scheduling, tracking, and sorting. A standard inspection photo showing damage may require transfer, making backups, printing, and even physical storage in a file. Every additional step between when a piece of content is captured to when it finally arrives at its ultimate storage location increases the risk of losing, corrupting, or otherwise damaging potentially critical information.

Livegenic’s digital platform replaces that entire process - providing a one-stop shop for documenting, managing, and reviewing content. Your policyholders, contractors, or field adjusters can take a photo or submit a document, and within seconds it will be immediately uploaded, backed up, and available for review. Our cloud-based storage is completely secure (we haven’t lost a single file in our entire seven years of operation!), and can be configured to maintain your data in any region across the globe.

All recorded content is automatically submitted and securely stored in a unique claim file on the Livegenic Web Platform, simplifying your entire data collection and storage process, saving time, and minimizing administrative overhead. Need to export or share a piece of content (or 50)? Go for it - you can review and extract any content at any time. Livegenic will keep it stored for a minimum of 7 years, so you can feel secure in knowing your critical information is backed up and accessible for as long as you need it.

Compliance

It’s not uncommon to hear concerns from organizations new to the virtual claims space that revolve around maintaining compliance when using services like Livegenic. Luckily, we’ve designed our platform specifically around the legal and regulatory needs of the insurance industry. For starters, all data in Livegenic is encrypted both “in transit” and “at rest”, ensuring security, privacy, protection from loss or theft; and Livegenic has been certified for both ISO 27001 and SOC2.

Many adjusters have been tempted to simply jury-rig a virtual solution via a free live video streaming app like Facetime. This, in-and-of-itself, is NOT compliant with many regulatory requirements, and violates the terms of service for the app. These exchanges are not secure and can not be relied on to store data, have a secure transfer of materials, or provide simple communication between parties.

What about consent? Our platform fully supports the ability to add custom disclaimer messages and Terms of Service with required approval prior to initiating a virtual inspection - and can be configured to satisfy various state-level requirements for privacy and consent (MA or CA, for example). These consent forms allow for an insured, inspector, or other 3rd party to fully understand the expectations of the virtual inspection.

Gather data, store it, and keep it secure: Livegenic gives you all the tools necessary to dot every “i” and cross every “t” - so find out for yourself and Request A Demo Today.