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August 23, 2004
Technology speeds insurance claims in wake of Charley
As technology gets more advanced, a little smaller and even cheaper, insurance companies everywhere have been able to apply this new technology to speed up the claims process. As Charley moved towards the shores of Florida, insurers everywhere were assembling their teams and firing up the emergency response vehicles. Hours after the storm had left, these offices-on-wheels were able to process claims and send them to HQ via satellite. In the days of Andrew, companies would take paper claims, box them up and ship them out of state. Homeowners would wait up to eight months to see their first checks from their insurer. Through satellite transmission, as customers get their claim number, they are instantaneously assigned to an adjuster that is located in their area. Now the claims cycle take week, not months. This leads to local economies recovering quicker, fewer expenses and happy customers.
Posted by Tom Troceen