How Insurers Are Digitizing Claims with Apps, Photos, Videos, E-Payments and More

The digital transformation of the insurance industry isn’t just for insurtech startups any more.

At Allstate, 60 percent of claims are now filed with a cell phone application that allows policyholders to take photos of the damage, Chief Claims Officer Ken Rosen said.Farmers Insurance is beta testing a product that uses high-resolution photos to create “a shell” of a repair estimate that can be fined-tuned by a claims adjuster, Senior Vice President Frank Carni said.

And CSAA Insurance has penned a deal with Owl Cameras Inc. that will allow it to place video cameras in policyholders’ vehicles to record crashes and jump start the claims process.

Consumers are demanding this movement toward high-speed claims resolution and improved customer service, said Andreas Kleiner, chief executive officer and president of American Modern Insurance Group during the opening day of Insurance Nexus’ Connected Claims USA Summit in Chicago recently.

“It’s right here, right now,” Kleiner said during his opening keynote address. “Amazon has changed the rules. The entire insurance value chain will be disrupted. What was truly advanced three years ago has become table stakes.”

One of the latest advances comes to the industry through Owlcam, the product of a Silicon Valley startup that sells smart video cameras for cars. When a crash or break-in occurs, Owlcam instantly sends a video clip to the driver’s cell phone, which can be shared with the insurer and police. The Owlcam app also allows the policyholder to file a first notice of loss that includes the videoclip…

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