Challenge

A midsize insurer was looking to better manage a steady volume of low severity residential property claims associated with water damage. They were struggling to find adjusters to handle these losses, as most focus on more complex, higher value claims. Outsourcing to an adjuster partner would be prohibitively expensive over time. The carrier needed an efficient, cost-effective way to process simple claims that wouldn’t compromise quality or the experience of the homeowner.

Solution

The insurer piloted Sedgwick’s new approach, which leverages the AI capabilities of our smart.ly platform to fast track low complexity residential losses. A policyholder logs on and answers a series of targeted questions. They are then guided on how to upload relevant documents and photos. Smart.ly uses the information submitted, the relevant policy language and an industry pricing database to estimate the value of the loss and propose a settlement amount within 24 hours. All estimates are reviewed by a Sedgwick or client adjuster before being presented to policyholders. Homeowners can accept the offer, with an option to pursue restoration and repairs through our contractor network, or request that Sedgwick facilitate further adjuster review.

Results

Our innovative technology takes measurements of the affected spaces while capturing photos in a single step.

The insurer has received very positive feedback from policyholders on their use of the AI-enhanced solution. Those who have opted into the pilot programme appreciate the customer-driven capabilities and were able to start and complete their home repairs faster.

Engaged over

50%

of policyholders with low severity water damage in self service

Fast tracked claims from intake to completion in less than

30 hours

(on average)

Provided a seamless claim experience, promoting customer retention