When FNOL Results in Multiple Claims

Posted on

March 18th, 2019

When a customer makes initial contact following an incident, they’ve triggered first notice of loss (FNOL). While many clients think of filing a claim as a one-and-done process, some accidents pose tricky challenges that can result in numerous claims stemming from one FNOL contact. The following are a few of the claims that may arise when a customer initiates FNOL:

Property damage. This is typical following a car accident. The car itself is the most common damaged property; however, customers toting expensive items, such as during a move, may have more damage to report. Coverage for this typically falls under the at-fault driver’s liability section of their insurance policy. However, if the at-fault driver lacks insurance or sufficient coverage, the other individuals can use their uninsured motorist coverage to address the property damage.
Worker’s Compensation. If the individual reporting the accident was on the job while it occurred, any bodily injury caused by a third party falls under their employer’s worker’s compensation policy.
Bodily injury. Outside of incidents that occur while on the job, customers injured during an accident are entitled to bodily injury coverage. This type of claim seeks funds for medical expenses, lost wages, and pain and suffering. Much like property damage claims, the expense for this falls on the at-fault driver’s insurance provider. If the at-fault driver’s policy limits fall short of the injured party’s needs, that individual can turn to his or her own insurance policy to bridge the gap.

All incidents have a set amount of time for a client to initiate FNOL. While property damage generally has a five-year statute of limitations, personal injuries typically only have two. This varies from state to state so it’s important to identify coverage laws for the state the accident occurred in.

It’s imperative for insurance agents to ascertain all possible claim types when a customer initiates FNOL. Customers may not be aware of what coverage is available to them to help them recoup their expenses and recover following an accident.

Navigating multiple claims can be confusing for customers, particularly those unfamiliar with their coverage. Actec can help insurance companies implement a robust FNOL call center as well as customer-centric claim and incident reporting solutions. Contacts us to learn more.

Absenteeism and Workplace Stress: Six Tips for Managers

Posted on

March 11th, 2019

Andrew

shutterstock_136833263 - Copy (5) Stress is dangerous, both to your employees and your company. For your employees, stress imposes high psychic costs – depression, fatigue, and social withdrawal – and is a major factor in heart attacks, hypertension and other disorders.
For your company, workplace stress imposes major costs in reduced productivity, sales and profits. It’s also a major factor in employee absenteeism. In fact, an employer survey by UK-based CIPD found workplace stress to be the biggest cause of long-term absenteeism.

The responsibility to deal effectively with stress is one of the most important and challenging aspects of every manager’s job. To reduce workplace stress and absenteeism, here are six tips for managers.

Prioritize and organize. Set the tone from the top by controlling the pace and volume of work. Though you can’t always control the pace of work, try to limit the duration of high-stress periods and let them know there’s a light at the end of the tunnel. Avoid unreasonable deadlines. Be sure that the assignments you give to your employees are suitable to their abilities and resources. Clearly define employees’ roles and your expectations for performance.

Communicate. Engage your employees in big decisions, especially those that affect their jobs. Find ways to show employees that you value their contributions and make clear there are opportunities for career development. Keep them informed on important company decisions and developments. Listen attentively, not only to the words but the emotions your employees are trying to communicate.

Support an entrepreneurial atmosphere. Empower your employees. Delegate. Encourage and reward creativity. Project energy and enthusiasm. Emphasize teamwork and collaborative problem solving – and celebrate your team’s successes.

Resolve conflict positively. Workplace conflicts can be a major source of employee stress. By being proactive and positive in resolving conflict, you can reduce tension and create an atmosphere of trust and cooperation.

Adopt flexible work arrangements. Rigidity in work schedules can be a major source of stress for employees who live hectic lives outside of the workplace, especially those who must tend to the needs of children or elderly parents. By recognizing employee needs with flexible work arrangements, you can engender greater loyalty and work satisfaction.

Practice effective ‘self-management’. Emotional intelligence is essential to bolstering self-confidence, defusing tension, and maintaining that all-important sense of humor in projecting a sense of calm and leadership. Stress can undermine your capacity to exercise emotional intelligence and sound judgment, so do all you can to increase your capacity for self-awareness and self-management. Be attentive to your physical and emotional health. Connect with others at work. Discuss problems with someone you trust. The better you feel, the more resilient you’ll be in the face of stressful situations.

Workplace stress is a greater factor in absenteeism than most employers realize. Many employers fail to track the extent of absenteeism or investigate its causes. Depending on size and operational scope, many organizations may benefit from finding an outsourced solution to help manage the process. For more information on our absence reporting and employee absenteeism services, contact us.

Is Your FNOL Process Compromising Customer Retention?

Posted on

March 4th, 2019

Andrew

First notice of loss (FNOL) represents the greatest opportunity an insurer has to secure a positive experience for their customers. If FNOL doesn’t go well, a customer’s satisfaction levels are likely to stay low as it’s very difficult to turn a claim around after this initial interaction. Given enough negative experiences, a customer may look elsewhere for an insurance provider. If insurance companies want to retain their customers, they will need to take several steps to make their FNOL processes as seamless, painless, and effective as possible.

Elements of Effective FNOL Processes

Customers calling in after a car accident, burglary, or damage to their home are trying to establish a sense of normalcy to their lives. They’re likely in a sensitive state of mind and would benefit from compassion from their insurance company. To achieve this, insurers need to make sure they allow customers multiple options to initiate FNOL. Some will prefer to call in the loss while others may want to start it from an app on their phone. They should also be able to obtain easy to understand and straightforward answers to their questions.

Routing claims to the appropriate professional is also vital to customer satisfaction. Improper triaging of claims can cause delays and frustrations for the customer. Today’s customers expect immediate answers and results. Insurance companies that rely on antiquated systems or fail to keep up with modern expectations will fall behind the competition. To avoid this, insurers should implement proven technology and software to streamline the claims process from FNOL to resolution.

Benefits of an Effective FNOL Process

There are several reasons insurers should want to improve FNOL. These include:

Increasing customer loyalty and retention
Closing claims faster
Reducing costs associated with delays
Allocating resources to more complex claims processes

Insurance companies can’t afford to overlook their FNOL processes. If they do, they run the risk of losing customers as well as facing backlash on social media. In the age of customer reviews, a dissatisfied customer has very public platforms to air his or her grievances. It costs much less to retain customers than it does to obtain new ones so it’s worth the investment to improve FNOL.

If your insurance company is struggling with inefficient FNOL processes, Actec can help. Contact us to learn more.

7 Ways to Improve Attendance and Staffing Issues

Posted on

February 25th, 2019

Andrew

Some attendance issues are unavoidable. Accidents on the roads, illnesses, and more can creep up on employees unexpectedly and force them to arrive late or take a sick day. However, the amount of false sick days employees take is on the rise. From 2016 to 2017, the number of employees calling in sick when they weren’t rose from 35% to 40%. When an employee has persistent attendance issues, it can tank office morale as well as productivity.

The following are several effective strategies for reigning in attendance problems:

Lead by example. Management can’t expect their employees to arrive on time and work a full day if they don’t do so themselves. Employees will take note of their boss’ work ethic and be more likely to reciprocate punctuality.
Address attendance problems without delay. Employers can address attendance issues with employees in several ways. It could be as simple as an informal conversation to see if there is an extenuating circumstance affecting the employee’s schedule, or the employer can opt to address it during a review. Whatever route the employer decides to take, he or she should do so quickly. Allowing an employee to arrive late for an extended period can send the signal that management is ok with the tardiness or isn’t paying enough attention.
Give employees the opportunity to make up lost time. Some attendance policies require disciplinary action when employees have attendance issues. However, employers can avoid this by offering make up time. Many employees will take advantage of the opportunity to make up the time they missed in order to avoid lost pay.
Reward good performance. Employees who feel valued are more inclined to arrive on time for their job. Offering recognition prizes for perfect attendance can reduce tardiness and absences, especially if there is a highly sought after reward such as paid time off, a monetary bonus, etc.
Require employees to call out through management. If an employee can call out of work by leaving a voicemail with a receptionist, it’s a lot easier for them to make up an excuse than if they have to talk to their boss directly. If an employee is sick, they won’t have qualms discussing it with their supervisor.
Follow up when an employee returns to work. If an employee calls out sick, it’s a good policy to check in with them when they return to make sure they’re ready to be back at work. If an employee tries to return to work while still ill, he or she can spread germs or relapse. It’s also good for morale for management to show they care about their employees’ health.
Keep track of attendance. This may seem like common sense, but many businesses operate on an honor code, assuming people will document if they’re late. This may be true for significant tardiness, but an employee who arrives five minutes late every day isn’t likely to bring it to their supervisor’s attention. Keeping track of late arrivals, early departures, and absences let employers notice patterns and address them.

Absence management is a must for any company to succeed. If your company is struggling with tardiness or suspects problems with absenteeism, Actec can help. Contact us to learn about our absent management solutions.

4 Soft Skills Insurance Representatives Need to Succeed

Posted on

February 18th, 2019

Andrew

Insurance customer service representatives have to familiarize themselves with the entire claim cycle from first notice of loss to claims resolution. However, knowing the ins and outs of the industry doesn’t mean an agent will automatically do well at his or her job. Insurance representatives need to possess a number of soft skills to succeed. Some of the more desirable soft skills include:

Internal communication and teamwork. Representatives need to be able to communicate effectively with internal staff as well including coworkers and management. This allows them to express needs or challenges that are preventing customers from receiving the best possible care. In addition, good communication skills means being a good listener as well to fully understand the customers’ needs. Similarly, teamwork is vital for successful customer service. When representatives work together, they can find creative solutions for common problems as well as develop strategies that play to each other’s strengths.
Conflict resolution. Customers approach insurance representatives with a multitude of problems. Many situations require creative solutions so insurance representatives need to be able to think outside of the box to solve their issues. If representatives are unable to provide a workable solution, they need to let the customer know they will reach out to management and get back to them.
Efficient empathy. Customers calling in with a problem aren’t looking to hear similar stories. Trying to associate with customers by sharing a personal related anecdote is unnecessary and takes up valuable time. Representatives should be empathetic, but a simple “I know how you feel” will suffice.
Remaining calm. Customers usually call their insurance provider when they need to make a claim. This means they are likely upset and will require delicate handling. Representatives need to remember the customer isn’t angry with them personally. Staying positive and optimistic can help the customer calm down and bring about a better experience for both parties.

No amount of skill can overcome a limited claims management system. If your claims processing is slow or irritating customers, Actec can help. Contact us to learn how we can help transform your claims handling processes.

Notable Trends in First Notice of Loss

Posted on

February 11th, 2019

Andrew

Many changes are transpiring in first notice of loss. These trends are in the area of pricing, technology, customer behavior, regulation and staffing practices. Companies will have to adapt to survive.

Pricing
Companies need to balance reducing expenses against ROI of potential investments. This has become important due to the need for FNOL processes to be flexible, available on multiple channels, and responsive against the need to maintain profit margins in an environment where premium growth is slower.

Technology
Companies continue to seek better data analysis tools and predictive modeling in order to improve underwriting practices and detect fraud. Better technology is also important to reduce claims cost and increase consistency while providing access on more channels.

Customer Behavior
Connectivity is important to meet customer demand of better pricing, better customer service and increased accessibility. Companies need to be able to understand their customers better in order to enhance the FNOL experience, which is often a key touch point with customers.

Regulation
Since regulatory intervention and scrutiny is on the rise, companies need to increase key aspects of the FNOL Process:

Greater transparency
Improved reporting capabilities
Streamlining compliance processes

By being proactive when addressing multiple regulations, companies can eliminate the risk of fines and penalties due to compliance issues.

Staffing Practices
The aging workforce is leaving behind a skills gap that is difficult to fill. Most companies don’t have plans in place to meet their future staffing needs nor do they understand the intricacies of recruiting the millennial workforce. Businesses have to start creating recruiting policies today to ensure they have a skilled workforce that will be able to handle FNOL processes quickly and efficiently.
With the changes in pricing, technology, customer behavior, regulation and staffing practices, many businesses are finding it difficult to maintain an efficient FNOL process. Contact Actec today to learn how they can help you manage this vital customer touch point.

6 Attendance Management Mistakes Costing Companies Money

Posted on

February 4th, 2019

Andrew

Absenteeism, tardiness, long lunches, and leaving early are all attendance issues that affect a company’s bottom line. However, problems with attendance don’t always rest solely on employees. There are several mistakes management can make that confuse employees or muddy the waters in regards to what’s expected of them. The following are several common mistakes that perpetuate absenteeism:

Missing or incomplete policy. Many employers outline vacation leave, sick leave, and federally protected absences in their company handbook. However, some neglect to discuss an actual attendance policy. Taking the time to do so can mitigate confusion regarding attendance. For example, employees who leave early every day because they neglect to take their lunch break can disrupt the workflow if other employees need to discuss a project with them.
Poor enforcement. If management neglects to fully enforce an attendance policy, employees will abuse it. It can also hurt employee morale if one employee is late on a regular basis and management does nothing to address it. It can lead to accusations of favoritism or encourage other employees to do the same. Management needs to enforce all aspects of their attendance policy even if it means having uncomfortable conversations.
Failing to distinguish between types of absences. Some absences are unavoidable. For example, employees fall ill or may need to care for family members. However, other absences are fraudulent and can speak to a larger issue. Employers need to take the time to learn the root cause of employee absences to stay ahead of any potential attendance issues.
Not requiring doctor’s notes. Requiring a doctor’s note for absences can cut down on the number of false requests for time off due to illness. Some employers choose not to do so for short-term illnesses, but it’s worthwhile for long-term absences, especially if the absences could fall under federally protected leave such as family medical leave or disability.
Not accommodating returning employees. When an employee returns to work after an extended illness or injury, employers should consider accommodations to ensure his or her success. These adjustments can prevent a relapse and make employees feel more secure about returning to work.
Not keeping track of attendance. Even if employers have attendance policies, they can’t possibly know how effective they are without tracking absences. Implementing an absence reporting program can help management identify trends and address burgeoning issues before they become chronic problems.

If your company is struggling with absenteeism or attendance issues, Actec can help. Contact us to discuss our absence management solutions.

What Trends Will Disrupt the Insurance Industry in 2019?

Posted on

January 28th, 2019

Andrew

Last year, the insurance industry grappled with promises to support innovative technology such as artificial intelligence (AI), machine learning, and cloud services. As 2019 kicks into gear, many within the industry are wondering what to expect in the coming year.

If the past is anything to go by, technological demands will increase, fostering greater competition among insurers. To stay ahead of the curve, industry insiders will need to prepare for the following trends:

Enhanced public scrutiny of artificial intelligence. As the excitement over the capabilities of AI wanes, public scrutiny is expected to increase. The public and regulatory bodies will want to implement controls to ensure AI processes are free of discrimination, are transparent, and, above all, are secure. Insurance providers will bear the brunt of that responsibility.
Smart apps. AI combined with machine learning has allowed insurers to improve the customer experience on their websites and other platforms. For example, insurance providers have experienced great success with chat bots to improve customer service efforts. As a result, many are leaning harder on machine learning for data collection and analysis to find new ways to improve the user experience in real time.
Increased focus on privacy. Several major data breeches consumed headlines in 2018, enhancing the public’s focus on privacy security. As lawmakers look into defining the legalities of online privacy, insurers need to keep an eye on their apps. Many applications rely on location tracking software, a feature that is coming under scrutiny.

Technological advancements aren’t likely to slow down anytime soon. However, insurance providers will need to keep up with consumer demand for innovative technology in claim reporting and other interactions while balancing their privacy concerns. Contact Actec to learn how we can help your insurance company improve claim intake and first notice of loss without compromising data security.

How to Balance FNOL Fraud Prevention with Customer Service

Posted on

January 21st, 2019

Andrew

When customers file a claim, they want a rapid but fair resolution. Insurance companies that establish high-quality standards of service and consistently adhere to them experience better customer retention than those that don’t. In addition, implementing these standards can reduce the cost of claims as well as the amount of time it takes to process them. While most insurers know this, many struggle with how to achieve this on a regular basis.

This is in large part because of the many balls insurance adjusters have to juggle while handling a claim. They need to balance the risk of fraud against the need to provide excellent customer service. Otherwise, the first notice of loss (FNOL) process can rapidly get out of hand. How the FNOL process goes will color the insured’s opinion of the entire claim and their insurer, but adjusters need to remain vigilant against fraud as well.

Using Data to Improve FNOL and Fraud Detection

To achieve this balance, insurance companies need to gather a plethora of data on a short timeline. This information can provide vital insights into claims to help adjusters determine their next steps. For each instance of FNOL, adjusters need to gather the following information:

Policy data: Date, exemptions, renewals, etc.
Claim data: Date, time, etc.
Loss history: A customer’s claim history can provide important fraud insights
Public data: Third parties often provide insights into common claims, which can help insurers establish priorities
Extracted data: Insurers can flag claims for further review based on mined information such as an insured waiting several days to report a claim

Insurance providers can expedite many of these processes by implementing artificial intelligence (AI). Machines are able to compare vast amounts of data about claims much faster than humans can, allowing them to flag suspicious claims. Adjusters can then review the claim to determine if it bears further investigation or not.

If your insurance business is struggling with FNOL or the claims process, Actec can help. Contact us to learn how we can help you improve FNOL while streamlining your claim cycle.

Managing Employees Who Leave Work Early

Posted on

January 14th, 2019

Andrew

Companies struggle with employee attendance challenges at multiple levels. Employees who arrive late, take long lunches, or abuse their sick leave, put strains on an organization and workplace morale. However, employees who habitually leave work early can wreak just as much havoc. If management notices, odds are the rest of the staff is aware as well.

Allowing an employee to flout their work hours will create resentment among the rest of the staff that works their full hours or encourage other employees to start ducking out before their shift is over as well. The following are several ways management can address this issue:

Stop avoiding it. Looking the other way isn’t a solution. Many bosses try to avoid confrontation because they don’t want their employees to perceive them as mean. However, leaving early isn’t acceptable. Management needs to take the employee aside and inform him or her that the behavior hasn’t gone unnoticed. Management should also take the time to find out why. There may be a reason the employee is leaving early that management can help address.
Develop a solution. If the employee is leaving early because they are caring for an elderly family member or they have to pick their child up from daycare, it is worth it to consider shifting their schedule. Allowing the employee to arrive earlier in the day can give them the flexibility they need to balance their personal life with their job.
Enforce the agreed upon terms. Establishing rules doesn’t do much good if an employer doesn’t enforce them. Employers need to keep tabs on employees with known attendance issues. They should also make it clear that continuing to leave early will have repercussions. Employers should meet with HR to determine the best course of action regarding escalating consequences.
Establish a method to track attendance. Employers who don’t track attendance may not notice employees who leave early as soon as they should. Implementing an absence reporting program can help improve productivity while reducing attendance issues.

The expectation that employees come to work on time and stay for the duration of their shift isn’t an unreasonable one. However, for a multitude of reasons, employees may try to skirt their hours and leave work early. To learn more about addressing attendance issues, contact the experts at Actec.