360Globalnet Expands Market Reach of High-Speed Claims Settlement Tool

360Globalnet Expands Market Reach of High-Speed Claims Settlement Tool

12/04/2016

Reproduced by kind permission of Insurance Times

Technology harnesses the power of self-service on mobile devices.

US multinational IT services provider CSC has expanded its insurance portfolio with 360Globalnet's cloud-based claims system, which aims to drastically reduce settlement times.

Under the terms of the agreement, CSC will have exclusive worldwide rights to resell all of 360Globalnet's offerings, including the company's claims solutions that lets customers manage the end-to-end claims process online.

CSC says the technology, which will be offered to insurers, will give customers self-service claims processing and live-streaming 
video capability.

The insurance technology provider says 360Globalnet's system can shorten the time it takes to settle a claim from days to hours, as well as help to reduce fraud.

360Globalnet chief executive Paul Stanley said: "What if everyone involved in the settlement of a claim, from the first notice ofloss to repair, had all the real-time data they needed in front of them - text, images and video - moments after it occurred?

"Seamless, real-time visibility across the claims process is a winning proposition for insurers that can be implemented with low up­front costs, minimal disruption to existing software and short implementation times."

And CSC global insurance vice presidents and general manager Phil Ratcliff said: "Putting the insurers' customers in control of their own claims, while delivering an engaging user experience, improves customer satisfaction and retention rates.

"By leveraging data analytics for enhanced fraud detection and forward-looking market and customer information, we also help insurers reduce costs and make better-informed business decisions."

Source: Insurance Times, Newsdesk (01/04/2016) 
www.insurancetimes.co.uk