Why Northwood Adopts a Blended Approach
There are advantages and disadvantages to nearly everything. The same is true of technology and data. While technology has advanced significantly over the years, bringing with it many benefits, it can also bring about frustration. Data is the same way; it can be helpful to collection and measure data, but it can also be detrimental if you do not know how best to leverage the data you have. Taking a blended approach to ensure that your company utilizes data and technology along with a personal touch brings about better results when it comes to automobile no-fault and workers’ compensation claims.
Benefit from Northwood’s blended approach
Northwood is a third-party administrator (TPA) of claims that has mastered the art of taking a blended approach on claims administration. While Northwood collects data and harnesses technology, their staff members also ensure a personal touch with each claim. This improves the claims experience for claimants and benefits insurance companies in many ways.
Claimants tend to appreciate speaking with a human during the process of administering their claim. It can get frustrating for claimants when they are unable to reach an adjuster or examiner with questions or concerns. That’s why Northwood offers a customer care line, staffed with knowledgeable team members who are able to address claimant questions promptly.
In addition, this care line takes some of the time burdens away from your examiners and adjusters. Northwood can easily address claimant concerns, which means adjusters and examiners can stay focused on administering the claim efficiently.
On the other hand, Northwood also recognizes the importance of utilizing technology to improve processes and efficiency for the companies it partners with. Automation can be a significant help in shortening the claims administration process when used judiciously.
Furthermore, Northwood also helps insurance companies collect data that can assist in identifying areas for improvement. Administering claimant satisfaction surveys is one way that Northwood uses data to help boost the bottom line for insurance companies. If claimants are satisfied, they in turn will likely renew with their insurance company. That impacts retention rates and, ultimately, the financial wellbeing of your insurance company.
It is crucial that insurance companies recognize the benefits to achieving a balance of technology, data and personal touch. Ensuring that your company takes this balanced approach to each and every claim will benefit your claimants as well as your examiners and adjusters and your company overall.
Increase claimant satisfaction scores
Schedule a call with Rosanne Brugnoni at 586-755-3830 ext. 3771 for a more customized review of the benefits your company and your claimants can realize from partnering with Northwood and taking a blended approach.