A Tale of Two Inspections: Going Remote Decreases Cycle Times, Increases Profit

Quick Stats:

• With Livegenic, more than 60% of all minor property claims can be fully documented within 24 hours of a virtual inspection, with an average total cycle time of less than 40 hours from FNOL to claim-closed.
• Total cycle times shortened to an average 1.76 days, median 6.03 hours.
• Severely reduce the amount of time and money lost in travel.
• Severely increase the speed and number of claims processed.

Imagine a claims adjuster performing an inspection. They’ve received the FNOL. They’ve scheduled a convenient time for the policyholder and the adjuster’s own schedule, sometime next week. Next week, the adjuster fills up the gas tank and heads over to the policyholder’s home. They perform the inspection, take a few pictures, and drive back to the office to fill out some forms. Some time the next day, or week, or whenever, the inspection is filed, and the cycle is complete.

What you probably DIDN’T imagine, was this: All the while in the background, the clock ticked away, expenses accrued, and business hours were being eaten up.

Let’s imagine again, but this time, with virtual remote inspections.

Imagine a claims adjuster performing an inspection. They’ve received the FNOL and within seconds have sent the insured an invite to access Livegenic. The insured accesses the Livegenic Customer portal with a single click, and via livestream is able to collaborate with their adjuster who can provide all the instructions needed to document the loss. The adjuster can direct exactly what and where to capture photos and videos, and all the while the content is being automatically saved back to the claim file for review. Within minutes the loss has been fully documented, the current conditions have been memorialized through timestamps and GPS verification, and the policyholder can proceed with their day. The adjuster files the claim in record time, having spent 0 extra dollars, hours, or miles on the inspection - and the customer gets their check in the mail in less than 24 hours.

If this scenario sounds like something your business could benefit from, request a demo below, or contact Livegenic for more information.