Is Investing in Imaging Technology a Good Idea for Insurers?

By Insurance CIO Outlook | Wednesday, July 08, 2020

Implementing imaging technology tools help insurance companies address a myriad of challenges while providing a competitive advantage in the market place. 

FREMONT, CA: Dramatic change is occurring in the insurance industry, being led by exciting technology developments. As a result, the way insurance companies do their business is being reshaped, and companies are becoming far more customer-centric. Because it is a competitive marketplace, insurers are competing to increase the speed of insurance processes. Imaging technology is helping insurers in this venture by accelerating workflow through faster document access and simpler review methods.  Consumers today want reputable insurers with superior customer service, competitive prices, and convenience. High-speed imaging technology is one of the most popular means to help insurance companies best serve their customers.

Tools based on image recognition can help insurers protect their business—tightly integrated with the lengthy process of damage assessment—with intelligent fraud detection and acceleration of claims processing. Using imaging technology, or even face recognition and spoof detection, insurers can protect their workflow from undermining data issues effortlessly. Image recognition-based tools are providing insurers with instant visual damage check, claims’ legitimacy automated check, and capabilities compatible with various types of insurance from vehicle and health to home insurance.

Imaging technology-based document viewers enable higher speed, efficiency, and accuracy in claims processing while ensuring content and data security. Using imaging technology documents in any format are reviewed in seconds. Imaging technology solution also allows insurers to collaborate on documents, thereby enhancing workflow. With this technology, internal employees and those outside the company, such as agents, claims adjusters, and others working in diverse locations can collaborate and work. By using imaging technology solutions, annotations to documents are automatically archived. This will help insurers create a workflow history and audit trail that ensures industry compliance.

See Also: Top Insurance Technology Solution Companies

Weekly Brief

Read Also