Insurance claims life-cycle halved and indemnity costs slashed with digital live video streaming

DR&R claims are often the most stressful for policyholders. They're normally the result of traumatic events, such as fire or flood, resulting in large loss and major disruption to the claimant. To add to the trauma, the increased complexity of DR&R insurance claim repairs are particularly prone to delays and creeping costs - all of which can lead to customer service dissatisfaction and complaints.

In 2014, one of the top-5 UK insurers decided to adopt live, digital video streaming from 360Globalnet to address these challenges and reduce the trauma to its customers. 360Globalnet enables policyholders to becomes the eyes of the adjuster by live streaming video evidence of the damage. The benefits are twofold: one, customer satisfaction sky-rockets as they're quickly assessed by the insurer and claims as settled much faster. Two, insurers can assess claims exponentially faster because decisions are made at the desktop - site visits are only made in cases there video evidence wasn't sufficient. 

"Using live stream footage of the claim evidence, it's immediately clear what steps are required for settlement. We now have full control of the entire claim, which makes a huge difference for us and our customers."

Our live streaming video technology (DAVE) gives the insurer the solution they need. Up to twelve experts can view the live stream simultaneously, pause the footage as necessary and add notes. Claims life-cycle was reduced, indemnity costs were lowered and customer satisfaction improved significantly.

"360VideoStreaming has allowed us to address our most requested customer service improvement: that each claim is managed by a sole handler. Aside from the positive feedback, we're saving £2,500 per claim."

At a time when fuel prices are higher than ever before, and the weather is predictably unpredictable, video technology is necessary to control and manage surge events, whilst still delivering NPS scores in the high 70s. The reality is that many policyholders will choose to renew their policy IF their insurer delivered a service and settled a claim quickly with no hassle. 

If you'd like to find out how 360Globalnet can help you deliver a fast, automated and hassle free customer experience - even during surge events - as well as slash your endemnity costs, get in touch today. We'd be delighted to provide a no-obligation demonstration.