Category

Blog

How to Create a Workflow That Works for Your Insurance Business

By Blog No Comments

Insurance companies invest time, money, personnel, and technology into a business idea – and then make it work. And it does, until revenues begin to decline, errors increase, customer satisfaction drops and company leadership can’t quite pinpoint why.

Workflow Defined

Do you have a process – or a workflow?

A workflow automates the processes, actions and tasks required to get an assignment or project done – freeing you and your team to focus on what matters most in your business. Because, whether you realize it or not, your company – and each one of your employees – follows a process. The question to ask is: “Does the process help or hinder your business”?

What causes workflows to break?

Unexamined workflows lead to disparate processes and lack of a coordinated system, as each person creates their own personal approach to getting things done.

Does this sound familiar? Cory does things one way, but Cary uses a different sequence. Sam captures data in one style, and always forgets that one thing that Jamie then needs to fix. Every time. These inconsistencies create workflow breaks, cost time and often cause errors.

What’s the difference between a process and a workflow?

A master workflow standardizes and provides a roadmap for all of your processes so there is one single source of truth. As a result, people know what they need to do, when, and how, so they can go off and independently get it done.

In webinar 1 of VCA’s Workflow that Works webinar series, Pat McGrew, workflow expert and managing director of the McGrew Group explains, “Whether you realize it or not, the order of things you accomplish every day is part of your business workflow. This is the people, the processes, the technologies – everything.”

Transforming your process into an automated workflow, with a series of steps to be completed sequentially, means that your company can reach its outcomes faster, as the workflow guides you towards:

  • What needs to be done
  • When it needs to be done
  • How it needs to be done
  • Who needs to do it

How do I find out what my workflow looks like?

Pat McGrew recommends “walking your workflow” – a kind of self-assessment where you literally take apart the steps of each process – from first notice of loss (FNOL) to settlement and invoicing. Make a note of any points along the route that seem to cause slowdowns, create bottlenecks, or where the same processes are enacted more than once.

Are my policy holders affected by my company’s workflow?

If a claim is handled quickly and smoothly, the policy holder will likely be satisfied. If your adjusters are no longer confronted by bottlenecks or repeating tasks, they have more time to offer empathy and service to their clients. When workflow is automated and optimized, a policy holder is kept in the loop and feels reassured that his/her claim is being worked on to resolution. When workflow is efficient, a policy holder’s questions are answered within 30 minutes.

Insurance Workflows and Data

What does data have to do with workflow?

There are over 20 touchpoints in the lifecycle of an insurance claim. In webinar 2, McGrew, along with VCA’s executive team, discuss how having accurate data makes it possible for you to track and monitor the performance metrics of these touchpoints. With real-time data insights, management can make tweaks to their workflow, take corrective action, or implement new tools to resolve claims faster.

What you can measure, you can improve, including:

  • Average process time
  • Average time per task
  • Number Accepted/Rejected
  • Number in Queue in Stages
  • Number of errors
  • Percentage of processes below/above goal
  • Time from FNOL to settled claim
  • Volume of tasks per adjuster/teams

A workflow improvement initiative could be built into specific KPIs:

  • Reduce the speed of claims processing from days, to less than an hour, this quarter.
  • Lower the costs of the life cycle of a claim by 30% by next quarter
  • Increase client retention by 25%
  • Improve customer support resolution on the first call by as much as 90%

Better Insurance Workflow Leads to a More Efficient Claims Journey

What happens when I normalize and optimize my workflow?

Workflow, automation and data insights help you manage your insurance business faster – and smarter.

With a strong workflow, you can:

  • Measure productivity accurately
  • Keep overall claim costs low, direct relation to premiums
  • Maintain client retention and satisfaction
  • Expose redundancies
  • Forecast future financials
  • Analyze trends for business growth
  • Orchestrate departments with central hubs of data collection and communication.

Using workflow software to its greatest extent frees human and financial resources and allows you to operate at optimum efficiency. That efficiency drives revenue to the bottom-line and enables business expansion. So, in fact, an optimized and automated workflow is magical, but only if technology’s tools for workflow optimization are adopted and put into use. It’s more than just optional today.

In webinar 3, John Varghese, CEO, Virtual Claims Adjuster shares, “Technology is always moving forward. Businesses that don’t take advantage of modern solutions can no longer compete with those that do. Improving workflow means maximizing efficiency, and efficiency is key to running the smoothest possible operations.”

Businesses that rely on traditional, manual systems are struggling to achieve the same results as those who have automated and optimized their workflow. They don’t have the same control over what’s happening on a day-to-day and on a long-term basis and have to work harder to create the same level of relationships with their customers. VCA’s Workflow That Works webinar series takes a deep dive into the world of workflow, with real-life examples of how automation and data are impacting the insurance claims process. Watch Workflow That Works – FREE, bite-sized, and on-demand.

Virtual Claims Adjuster presents: Workflow That Works

By Blog No Comments

A three-part webinar series that explores how workflow, automation and data are impacting the insurance claims process.

TORONTO, August 5, 2021 – Virtual Claims Adjuster Inc. (“VCA”), the InsureTech Platform for Faster Claims Management, presents Workflow that Works, a three-part webinar series that takes a deep dive into the world of workflow, with real-life examples of how automation and data insights help you manage claims faster – and smarter. The series features Pat McGrew, M-EDP, CMP – Managing Director, The McGrew Group. She is joined by VCA’s Founder and CTO, Lee Picano; President and CEO John Varghese; as well as Ilda Cairns, VP of client services and Courtney Randell, VCA’s customer success specialist.

“Whether you realize it or not, the order of things you accomplish every day is part of your business workflow. This is the people, the processes, the technologies – everything,” says Pat McGrew, managing director of the McGrew Group. “The thing is, not every workflow is efficient.”

According to McKinsey & Company, automating your claims process can reduce the cost of a claims journey by as much as 30 percent.

In episode one, titled: Why Workflow Works, Pat gives an introduction to the purpose of a workflow. She introduces viewers to the power of optimizing workflow through automation, addresses some of the common workflow challenges businesses face and teaches firms how to  develop a workflow mindset.

Episode two, titled: Why Workflow Works in the Insurance Industry  explores why workflow is important to the insurance industry. McGrew and the VCA team look at how workflow impacts specific players such as TPAs (Third-Party Administrators) and IAs (Independent Adjusters). They also show how workflow impacts the cost of the claims journey and forecast the future of the industry.

The average claims workflow has 20 touchpoints. By integrating advanced technologies into operations, businesses can reduce the number of touchpoints and drive a more efficient workflow for all departments, from first notification of loss right through to settlement.

The third and final episode, Why Workflow Works Now, examines why workflow matters today. The panel offers a better way to resolve claims faster and displays an optimized claims management workflow. The series closes with a few words on the role of data analytics, and a quick look at how new technologies and a thirst for up-to-the-minute reporting capabilities have impacted the claims workflow.

“Technology is always moving forward. Businesses that don’t take advantage of modern solutions can no longer compete with those that do,” said John Varghese, CEO, Virtual Claims Adjuster. “Improving workflow means maximizing efficiency, and efficiency is key to running the smoothest possible operations. We’re thrilled to share this series with the rest of the claims industry.”

VCA’s Workflow That Works webinar series launches September, 2021. Join the waitlist – and be the first to access the series on demand.

About VCA

Virtual Claims Adjuster is the InsureTech platform for faster claims management. This SaaS Platform automates your process to free up claims adjusters from repetitive tasks. Bringing data to the forefront of your process enables adjusters to resolve claims faster by adding insights to the decision-making process. With VCA, you don’t have to change the way you process claims. It’s flexible enough to fit into your claims process and provides workflow and enhancements to help you solve claims faster. It already integrates with the systems you work with and allows you to create standardized templates, eliminating the need to reinvent the wheel every time you send out a communication. VCA meets all your privacy, data security and Lloyds of London requirements.

More than 170 customers in 15 countries rely on Virtual Claims Adjuster to help resolve millions of insurance claims each year. VCA is a privately-owned global company, founded in 1998, with offices in the United States and Canada. For additional information, visit virtualclaimsadjuster.com #VCAInsuretech

###

Press Contact:

Virtual Claims Adjuster
Joanne Gore
jgore@vcasoftware.com
+1 416 543 7951

Freeing up the claims workflow with digitalization

By Blog No Comments

Digitalization of data and workflow processes is more than just making existing data digital, it increases process efficiency, improves data transparency and accuracy, and helps insurance companies make better business decisions.

Until recently, processes that are ripe for streamlining have typically been those that involve a lot of repetitive tasks and movement of forms and paperwork. Advances in technology now mean that even more challenging tasks can be automated.

Creating increased administrative efficiency by integrating workflow tools like the ones Virtual Claims Adjuster offers, automates everything from processing a customer’s initial contact, right through to settlement and invoicing.

These improvements free up staff time to focus on more complex, value-adding activities, including any final decisions that machines can’t make. The metrics available from automating how your work flows can be used in conjunction with machine learning to optimize procedures and spot errors and potential fraud.

Regulatory compliance is a business-critical area that benefits from better administrative efficiency. Digitalization can, for example, create optimal compliance with Lloyd’s of London.

Transforming Legacy Systems

Many agencies are still using outdated and monolithic systems and processes in their workflow. These procedures were filled with endless paper, keying in data from phone interactions with customers, or pulling up PDFs that were filled out by other agents. Adjusters often work with decades old core systems, which, yes, are ticking along just fine, however, they offer very limited functionality.

Optimizing workflows with automation can cut expenses. In some insurance segments, like P&C, insurance carriers have as much as 30 to 40 percent of their expenses locked up in their top 20 to 30 core end-to-end processes, McKinsey estimates. And accessing and sharing information is nothing but frustrating. Transforming legacy workflow procedures even a little bit with the technology offerings available now can result in almost immediate savings.

The market has seen dramatic changes only this past year, and competitors are springing up without a single legacy system – giving them flexibility and a competitive advantage. Analysts are predicting that the difference between falling behind and those who have an edge will be embracing automation and intelligent technologies.

It’s time to begin thinking of how InsureTech can help you resolve claims faster. We can help get you there.

Managing Risks this Hurricane Season by Leveraging Technology

By Blog, Uncategorized No Comments

The year 2020 was a landmark year for insurers.

The 2020 Atlantic hurricane season was one of the most active on record and the claims industry had to quickly pivot to adapt to the added challenges of the pandemic. Last year had 30 named storms, breaking the record of 28 set in 2005. The season also broke the record for the most storms making landfall in the U.S. with 12 hurricanes, an amount not seen since 1916.

So, what of 2021?  NOAA is predicting 13-20 total named storms, 6-10 hurricanes, and 3-5 major hurricanes (Category 3 or higher). All of those categories are above the average of 14 total named storms, seven hurricanes, and three major hurricanes. Hurricane researchers at Colorado State University concur with NOAA in their annual Hurricane Activity forecast, citing the likely absence of El Niño as a primary factor: “Tropical Atlantic sea surface temperatures are near their long-term averages, while subtropical Atlantic sea surface temperatures are much warmer than their long-term average values.”

A look back at 2020 offers guidance for loss adjusting and effective claims management in the 2021 season. The loss adjusting and claims industry had to quickly pivot and incorporate new tools, technologies and workflow efficiencies for processing claims and creating timely resolutions during the unprecedented COVID-19 pandemic. Faster, smarter and more effective response became a mantra in 2020 for insurers who wanted to remain agile and competitive.

In 2021, loss adjustment planning will again need to be nimble and able to respond quickly to the unpredictable and ever-changing storm environment. The use of technologies can be incorporated throughout the claims process and can greatly mitigate any contingency that could possibly arise. Using a platform which can quickly sort through claims smartly— distributing them to adjusters based on location, workload capacity and productivity scores, further enhances the automation process.

In this 2021 storm season, efficient workflows will be pivotal in helping you:

  • Create standardized templates, eliminating the need to reinvent the wheel every time you send out a communication.
  • Track and view files within the workflow to help prioritize workload.
  • Stay organized with reminders and diary updates ensuring nothing falls through the cracks.
  • Quickly capture relevant data on behalf of your customers, with real-time data and imagery collection.

With InsureTech solutions powered by VCA, adjusters can assist in virtual inspections or virtual meetings with insureds. The web-based application can be accessed from any desktop and adjusters can use the mobile device for scaled down features while in the field.

Through smart devices, adjusters and users with access to VCA can facilitate timely reporting and assessment. VCA’s mobile features assist insurers by allowing them to:

  • View file data
  • Upload and review images and attachments
  • View reminders, messages and appointments
  • Enter time and disbursements
  • Add file notes and update status
  • Email insured and insurer

Best of all, our platform processes large numbers of claims—fast—while reducing the cost of a claims journey up to 30%.

Climate change is a reality. 2020 has taught us that leveraging technology is the best way to remain prepared for storm seasons. In a world that requires insurers to expect the unexpected, VCA has your back.

Be ready when mother nature strikes. Choose VCA today to resolve claims faster – and smarter

VIRTUAL CLAIMS ADJUSTER: Revolutionizing the Insurance Claims Industry with Technology – The CEO Views

By Blog No Comments

It has become increasingly important that insurance file handlers are using some form of claim management software to help them become more efficient and organized. If properly executed, companies can resolve claims faster, offer a higher level of service with less overhead, and increase their bottom line.

Technology is advancing rapidly. Inefficient operations can no longer compete with the efficiency and accuracy of firms that have implemented an advanced claims management system. VCA knows about the demands that are placed on different regions and different companies as well as the business challenges that they face. Working with clients around the world has shown how even small course corrections can make a big impact and drive significant efficiencies, client satisfaction, and business growth. These benefits make even more impact as companies scale in size.

The VCA brand has become synonymous with quality and is best known for industry-leading uptime and reliability, rapid support response times, and ability to offer consultative services as required. A
client-first approach is a core tenet of VCA’s culture.

Read: “VIRTUAL CLAIMS ADJUSTER: Revolutionizing the Insurance Claims Industry with Technology” from The CEO Views 

Stay ahead of the curve in this extremely competitive insurance market with Virtual Claims Adjuster’s robust claims management solutions

By Blog No Comments

Stay ahead of the curve in this extremely competitive insurance market with Virtual Claims Adjuster’s robust claims management solutions

 

Insurance companies are continuously challenged by the new government regulations and high customer expectations.

The marketplace has become extremely competitive, and it is important for insurance companies to manage their claims effectively, irrespective of their size. Some of the major components of the claims handling process include prevention of frauds, customer satisfaction, and developing new strategies to reduce costs. Customers of insurance companies expect the settlement process to be done quickly and provide satisfaction. This is mainly due to the fact that higher customer satisfaction levels will contribute immensely to the insurance company’s success.

Read: In conversation with John Varghese, CEO of Virtual Claims Adjuster from Silicon Review Magazine

Best Practices: Optimizing Your Insurance Workflow

By Blog, Claims Management No Comments

Seamless. Streamlined. Efficient.

We are talking about workflow—the managing of tasks in an insurance company from initial claim to resolution. Consisting of a sequence of connected steps, workflow is a depiction of a sequence of operations. It is the ‘flow’ of ‘work’ – generally from initial contact, through final billing.

But what do words like ‘streamlined’ and ‘seamless’ actually mean when applied to the tasks an insurer must accomplish daily, weekly, or seasonally?

Exactly how would your company benefit from having an optimized workflow?

In one word, it can save you TIME – which, in turn, translates to money.

Where there are ‘hands-on,’ time is lost. Time which could be billed.

Insurance companies have numerous processes that are traditionally operated manually. Even as we turn into the next decade, claims processing in the modern insurance space remains a manual, inefficient, error-prone operation. Claim information submitted through multiple channels such as email, phone, or other online forms is often entered by hand into the claims system – sometimes more than once. That’s where time gets wasted, and where errors can be made.

The first step to optimizing the insurance claims workflow is to eliminate as many manual processes as possible, without affecting customer service. In fact, automating mundane tasks frees up employees to focus on more productive, client-oriented activities.

As you can see from the diagram, the entire claims process has many touchpoints, from initial claims intake, notifications, claims handling and billing. As many (or more) than 16 manual processes stand between taking in the claim and when an agency processes payment. Agencies that are successfully implementing best practices actually rewrite their workflow processes integrating technology into a new workflow system. It means a “letting go” of old ways of doing a transaction – and embracing new approaches and technologies for a more efficient process – that saves you time and money

Your workflow is broken or disconnected. Time is spent connecting parts.

Another issue that can hamper efficient claims processing is having multiple workflows—multiple apps or software that are siloed, or isolated. According to  The Wall Street Journal, the average number of apps used by companies is 129. Perhaps you have an app that helps users view documents, but it is not connected to your main software, so it’s not in real time. Payment processing is another separate system. There are mobile apps for policy holders to submit information, and mobile apps for contractors – resulting in claims information that lives in many different locations and disconnected systems. And if your current claims, policy administration and billing systems have reached their practical limits, data is then siloed across disparate platforms and not easily available when you need it.

As a result, you struggle to capture a real-time, complete picture at any given moment of the claims process – your clients suffer from a lack of transparency – and your staff spends more time chasing information – and less time resolving claims.

Automating the claims process

The speed and convenience with which claims are settled have a huge bearing on an insured’s reputation. Automated workflows help insurers keep the ball rolling between the multiple steps in the insurance sales cycle, making claims processing seamless. A comprehensive claims management system connects all parts of your system and speeds up the process. 

Insurers can reduce the inefficiencies and inaccuracies of inputting data by hand, measurably decrease Loss Adjustment Expense, and keep customers satisfied by implementing a single platform claims management system.

Where integrating new technology makes sense

And how exactly can technology interact with the human side of the insurance experience of clients? It is definitely possible to automate to speed up the claims process and ensure compliance, but still provide superior customer service.

A few examples:

First, document management systems have the capability to completely automate. This includes preparation and tracking in a completely paperless environment.

Another example–insurance agents sometimes turn to process automation to automate specific tasks, such as automatically reaching out to prospective policyholders and collecting details of a claim.

Automation can be used for tasks that don’t need a live person, such as using video for property damage assessment; an app can help you figure out what needs to be fixed, and for how much.

A vision of the future of claims processing

Every insurer wants to be known as a company that puts client needs first and offers superior customer service. Your customers want to know that you are working hard to maximize coverage and eliminate risk. They want a well-trained, qualified staff available to be able to answer questions or concerns in a timely way.

A single unified platform. Dynamically build automation where you need it, without having to replace your entire claims system.

Ready to accelerate your enterprise’s claims process?

  • Create workflows that leverage existing systems and provide them with agility
  • Enable digital management of processes
  • Add visibility into transactions and processes
  • Reduce your dependance on paper and spreadsheets to eliminate cost, waste and errors
  • Increase productivity by automating manual tasks

Seamless. Streamlined. Efficient.

TEXAS DISASTER: The New Age of Catastrophic Weather Patterns?

By Blog, Claims Management, Insurance Trends, Workflow No Comments

“We are anticipating, within the industry, that we will see more claims out of this storm than any hurricane in Texas ever.”

(source: The Insurance Journal)

In February 2021, ice, snow and record-breaking cold left millions across Texas without electricity, heat, or water – and many homes damaged or destroyed. Roughly 4 million homes and up to 15 million people had no power for several days. 13 million homes had no water or poor water quality. This storm spared no one, even in the farthest corners of South Texas that rarely see temperatures below freezing. It became a dangerous crisis for millions, particularly those living in poverty and acutely suffering the effects of the COVID-19 pandemic.

“We were woefully unprepared for this kind of cold,” said Texas State Representative Ron Reynolds, whose own house was without power, Claims Journal reports.

Record losses

  • Camille Garcia, with the Insurance Council of Texas, says, “This will be the largest insurance claim event in history.”
  • Insurers’ losses could be more than Hurricane Harvey in 2017 according to Moody’s analyst Jasper Cooper in The Insurance Journal.
  • Bloomberg reported on Feb 24 that, in total, losses from this event could be close to $90 billion.

Adjusters on the front lines

Insurers are deploying an army of adjusters from across the U.S. to help, according to Camille Garcia, a spokeswoman at the Insurance Council of Texas. Hundreds of thousands of claims will likely be filed and will begin filtering through claims management systems of insurance companies in the coming weeks. The Dallas Morning News reported that 750,000 claims so far have resulted from the Arctic blast.

In an interview with State Farm, Jason Wheeler of WFAA reports that the insurer has already received 34,300 claims, mostly of frozen pipes which burst and caused damage. In all of last year, nationwide, State Farm only had 3,800 broken pipe claims. The insurance company is employing the latest tech for this storm—a remote app which homeowners can use to speed a claim’s management.

Unprepared. Unprecedented. Unpredictable. The new normal. Sometimes called a Black Swan event, unexpected weather anomalies like this one that left so many in horrendous conditions may happen again. Climate change is upending the assumption that insurers can use past events to predict seasonal claims volumes.

“We are colliding with a future of extremes,” said Alice Hill, who oversaw planning for climate risks during the Obama administration. “We base all our choices about risk management on what’s occurred in the past, and that is no longer a safe guide.”

Technology tools for claims adjusters

One storm may not represent how global climate change is influencing weather patterns, but scientists believe it is part of an overall rise of extreme weather, and it’s creating sweeping new risks. As 2021 continues to unfold, insurers need systems in place to manage the avalanche of claims that will happen as unexpected events continue to occur.

The ice and snow storms that affected Texas in mid-February caused unprecedented damage. Fast and efficient business models and technology can help insurers manage the unpredictable and the unexpected in 2021 and beyond.

What to look for as you explore technology tools and software:

  • Mobile claims management that allows clients to quickly check claim details, access contacts, make notes, add time, send emails, review documents
  • Accurate measurements from smartphone photos that create a fully interactive 3D model of any property
  • Software that connects policyholders directly with contractors
  • Instant access to photos, documents, scopes, estimates, and reports as soon as they are created
  • A system that secures data from cyber risks

Embrace technology to easily manage CAT events

Virtual Claims Adjuster provides business owners and employees alike, the power to control their business so the increasing likely ‘freak’ events can be managed in stride.

In a “survival of the fittest” industry, you not only need the right tools, you also need the right people behind the tools. Our experience in the claims management industry and continued industry research including direct client feedback ensures that Virtual Claims Adjuster remains the most evolutionary claim management software on the market. Product enhancements are completed on a regular basis — ensuring Virtual Claims Adjuster’s tools always remain cutting edge to help you even in the most challenging of times.

VCA Spotlight – Lee Picano – Founder and CTO

By Blog No Comments

“I want to be able to apply solutions for our clients/partners and see that we have made a difference…”

Meet Lee Picano, VCA’s founder and chief of technology. Actually, Lee’s experience and roles are, as he explains, “tightly woven into the fabric of VCA.”

Lee’s entrepreneurial and vital spirit was evident early in his life.

The insurance connection was a natural for Lee; his father had been an insurance adjuster, and Lee participated in conversations – and often activities – to help his father as he grew up. Lee describes how on many nights, he helped his dad review surveillance footage for insurance reports, affectionately calling it the family ‘popcorn and video’ night.

Lee’s father instilled in him a strong work ethic, as well as a substantial knowledge base of the insurance industry, and Lee worked with his dad for over 3 years as an insurance adjuster. Yet, he was eager to break out on his own, independently, and make a mark.

Lee saw almost immediately how technology could be an answer for many of the issues that insurance companies struggled with in the 2000s. He recognized how the industry was mired in old practices, lagging behind other industries eager to embrace new solutions. After working with insurance carriers and observing where their pain points were, Lee recognized how IT could play an important role. Lee immersed himself in learning software design and development, graduating at the top of his class from the Canadian Institute of Computer Technology. He then further expanded his experiences, becoming lead developer and then team lead at two tech companies, including Toronto’s ProServeIT for over a decade.

The merging of Lee’s insurance experiences, with the deep knowledge of how technology can help provide business solutions, became the fertile ground upon which Virtual Claims Adjuster would grow.  Lee placed his efforts, energy and intrinsic knowledge of the industry and its pain points into the birth of VCA Software. When an insurance industry magazine did a piece on the growing company and its work with insurance companies, it sparked enough interest that Lee realized the tremendous value that technology would have for the future of insurance. This was 2002.

Software-as-a-Service did not exist. Yet Lee’s instinct was that if he could convince insurance companies to trust that data can be stored in the cloud, insurers would see great benefits. The upsides for the risk-averse insurance industry were not having to worry about issues like uptime, data storage, backups and liabilities. Lee would market his technology solutions as a new business model specifically for the insurance industry.

“Many companies are focused on revenue. At VCA, we stay focused on client experiences and opportunities that can help their growth.”

Fast-forward to today. As Lee looks back, he sees the dramatic changes: what took an average of 16 days to work through Lloyd’s Bordereau requirements, now takes minutes. What took adjusters 4-5 months to finish after Hurricane Katrina hit, is now 3-6 weeks. And today, with VCA, what used to take claims handlers 4 days, is automatically and instantly assigned through VCA software.

Throughout the development of VCA, the main mission that remained ingrained in everything Lee set forth to do was seeing the client not as a source of revenue, but as a partner. The focus for Lee and his team is client experience. Maintaining communication, empowering support personnel to developing relationships with clients so problems are solved quickly, and offering speedy resolutions to problems, remains a big differentiator between VCA and other insuretech providers.

What about the future? What will the 2020’s hold? Simple. Making clients’ lives easier and more productive. “We are focused on opportunities that help our clients grow. We will continue to expand features and functionalities and innovations to increase their efficiencies – and billing hours.“

On a personal note, Lee and his wife just celebrated 25 years of marriage and have three children. The family likes to be active, which has been challenging during Covid. Hiking nearby with their two Australian shepherds is top of their list, and the family plans to travel, another passion, as soon as circumstances allow. Lee is also a big car aficionado and often takes his favorite car to local car shows.

Year-end message from the CEO

By Blog No Comments

For insurers in the US and across the Americas – and for all of us – 2020 has been a very challenging time.

My primary thoughts always turn towards people – the people who are our customers, and those who are under my care as employees. We seek first to take care of those as best as we can, and VCA is no exception. We have attempted to understand the moment we were in, help those in our life manage that moment, and discern how to move forward. As the pandemic continues to unfold, people remain our first concern.

Awakening to digital solutions

With those thoughts in mind, the light inherent in 2020 has been how dramatically we have pivoted towards new business solutions, and how those solutions have increasingly been digital. Covid-19 has forced the industry to rapidly accelerate plans to reduce reliance on sub-optimal processes, many of which the insurance industry has relied upon for decades. Our industry seems to be on the verge of a paradigm shift, as insurers see the benefits of using insurtech to streamline their operations across the ecosystem.

Redefining the insurer-insuretech provider relationship

New digital insurance technologies are being incorporated into claims management. Smart devices, IoT technology, digital home mapping and even drones are allowing insurers to reduce costs, improve efficiencies, and create a consistent experience across all points of contact. VCA will continue to re-define and reimagine the insurance claims process.

New partnerships, new innovations
Virtual Claims Adjuster continues to take advantage of emerging technologies to build innovative claims management solutions. We are dedicated to improving core metrics in ways previously unavailable or unexplored. To that end, we seek technology partners in this digital transformation that will enhance insurers’ experiences with more capabilities and faster solutions. One way is our exploring of new technologies that could assess damage rapidly, and with accurate data, when claims staff are unable to get on-site.

Create a foundation for growth
Our goal at VCA is to continue to improve the metrics of great service, the speed of claims resolution, and the simplicity of processes. As 2021 comes into view for us, our biggest goal is to empower our customers to meet the challenges the next year will bring.

Wishing you all a happy, healthy and safe holiday season,

John Varghese