The first communication between insurance company and the insured whose vehicle has been damaged is conducted via First Notice of Loss (FNOL). At the point when a customer files for insurance claim, the FNOL is frequently the provider’s point of contact with the policyholder. Getting under way a smooth and productive auto claims management process along these lines is critical to customer satisfaction and retention.
Tragically, in many insurance companies the FNOL can be one of the first experiences in a long cycle of inefficiency, inconvenience and frustration for the insured. But another reason for constant delays in auto claims management and FNOL process is due to constantly evolving technologies and customers’ interactions with other companies, insurance customers increasingly expect the claims process to be digital, transparent, automatic, and intuitive. Since numerous insurance companies keep on struggling with legacy systems and procedures that present difficulties, (for example, inability to capture structured and unstructured data from different sources), the FNOL procedure is not as successful as it could be.
However, by utilizing the service of www.innitialliance.com, advanced analytical platforms and digital transformation tools organizations can enhance the auto claims processing. That begins with a viable FNOL, and ends with quality claims handling and lowering operational costs.
Developing an Optimized FNOL Service Solutions
Continuously evolving technologies today have made it possible to build up an optimized FNOL and autoclaims management platform that segregates information accordingly for a faster claim settlement. Regardless of whether your in-house staff is new, temporary workers have been hired or long-term experts working with you, one has to be ever ready to handle any claims issue.
Resolving the FNOL issue should include analytics, technological solutions, BPM services and a lean process management system. While the perfect FNOL and claims management solution will ok different for different companies, but there are some common traits like:
- Digitized Intake – Automating multi-channel intake and claims routing can influence process duration and claim results.
- Automated Claims segmentation with inbuilt analytical platform – By fragmenting claims automatically, less-complex claims and first party coverage handling can be tended to as a feature of the FNOL procedure, diminishing consumer and provider time amid intake and adding to consumer loyalty.
- Planned resourcing. Workforce administration forecasting can bolster volume surges and client needs 24/7.
The way to enhance the FNOL process lies in creating more prominent consumer loyalty and propelling a more powerful claims management system.