Benefits for Insurance Carriers

Good things happen when claims adjusters and restoration contractors are freed from their desktop PC’s and afforded the ability to estimate, review and settle claims on-the-go, anywhere.

For instance, loss adjustment expenses decrease dramatically, due to productivity gains and a reduction in travel, communication and IT expenses. Adjusters are able to settle claims at the loss site on the first visit using as pen-based estimating software, an updated, regionalized pricing database and wireless access to required information.

Symbility estimates are completed on site, so they are more accurate and able to capture more information at the first inspection resulting in lower claim settlements.

Dramatically Reduce Loss Adjustment Expenses

No other claims processing system approaches the speed and efficiency of Symbility because only Symbility allows claims adjusters and contractors to be completely mobile.

Why go mobile?

• Reduce labor costs – Complete estimates at the site, transmit them wirelessly to others then move on to the next location. Process up to 6 times the amount of claims in the same time as your current claims software.
• Reduce travel expenses – There’s no need to return to the office for tasks such as estimate creation, sending estimates to adjusters, assigning new claims to a contractor or receiving a new claim assignment. Symbility automatically notifies each claim participant when there are new activities, regardless of location.
• Reduce file storage, file access and communication costs – Symbility’s claim files are electronic meaning there is nothing to store, and it’s instantly accessible at any time, in any location with an Internet connection. Symbility claims are also graphically rich, containing photos, annotations, forms, signatures and diagrams. All correspondence is recorded in the claim file, eliminating faxes, emails and telephone tag. Symbility puts the “flow” in workflow.
• Reduce IT costs – Symbility is primarily a web-based system with a small field data capture component that requires no administration and performs automatically updates. This reduces the demand on IT resources versus competing systems by as much as 80%., with no capital outlay for software licenses.

Dramatically lower indemnity while increasing customer satisfaction
Settle on-site – The ability to access all data relevant to a claim at the loss site by bringing the full claims estimating tool allows adjusters to cash-out on-site within the first visit. Even if the claim is not immediately cashed out, providing a paper copy of the estimate (or electronic access to the claim file via the web) to the insured on-site reduce the chances they will challenge the claim; at the same time providing comfort that the claim is being handled as efficiently as possible.

Control over vendors results in control over settlement – Symbility automates the enforcement of adherence to established claim policies in several ways. The Audit Report runs automatically whenever a vendor's estimate is uploaded, and provides a summary and detailed analysis of every line item in the estimate (including variation from approved pricing). Rule violations are flagged in the estimate and tracked for every vendor, for future reporting.

Automatic notifications can be sent when any customized measurement is met or not met (for example, when an estimate greater than $100,000 is uploaded, or 4 days pass before an estimate is completed).

Proper accountability – Symbility's Journal feature has a singular purpose—to track any and all activity within claim files. The journal automatically records every material change that occurres within the claim file, regardless of how small. For example

• assignment of a claim to a contractor
• completion of an estimate and return to the adjuster
• the alteration of the materials component of an item's unit price
• the increase of the wastage applied to the item

Each journal entry is time and date stamped and shows the user who made the change. All historical changes to an estimate can be viewed, and it's also possible to "go back in time" and view an estimate as it was at any previous point in time.

The Journal also provides secure "instant messaging" functionality so questions and answers can be exchanged between claim participants much faster than with traditional communication methods (no waiting for email responses or telephone messages). This also insures that all correspondence is captured within the claim file, not lost as could be with email and phone calls, which means the real story of what happened in discussions is available for inspection. The journal also tracks all details relating to the insured in a secure, encrypted environment.

The metrics needed to make smart decisions – No other claims system gathers as much data during settlement as Symbility. Because the estimate is created at the loss site, the data captured is more accurate and there's more of it. Our Performance Management Analytics allow this massive amount of data to be mined and analyzed in virtually any way imaginable.

Interactively drill down to any level of detail. View detailed trends for any aspect of the claim business. Make head-to-head comparisons between regions, staff adjusters, independent adjusters, contractors, franchises, specialty programs  within the industry.

...all for a small per-claim fee, and guaranteed ROI

No licenses to purchase, no upgrades to buy, no maintenance contracts, no technical support costs—just a small fee for unlimited activity per claim.