Claims Reinvented
The Problem with Claims
Post claim administration creates more complaints than any other insurance customer service issue. Insurance is risky business and it's made worse by fraud and costly and avoidable administration. Get a claim wrong and the admin and therefore the costs pile up, from fraud, loss adjusters, a general mistrust in the insurance bargain and human factors outside of your control. Proova reduces risky claims by tackling costs to insurers before they occur.
Almost all of these factors can be managed or removed using Proova technology.
The Solution: Know Your Customer Before the Claim
Proova manages all of those claims risks up front at point of sale of the policy so there are no surprises.
As an insurance partner, you get access to every policyholder's asset register. This means you know your customer, you know what they have and where they had it at the point of policy inception. In addition, latest updates are added which allows you to have the estimated insured value and unique Proova Score.
Thanks to Proova, your claims handlers will automatically know the validity of the claim, the policyholder is who they say they are and receive a verified inventory, damage reports and video within minutes of a claim.
Protection from the unique three layer verification of ID check, AVS check, and Geocoded metadata means that the point of claim there is no dispute about what the customer had and when they had it.
What You Get
- From ZERO additional cost per policy
- Remove 90% of loss adjusting fees
- Prevent underinsured disputes
- Know the condition of each item
- Avoid up to 100% of claim exageration
- ZERO after the event fraud
- Access risks are ordinarily considered too risky such as motor trade or self-drive hire
- Know the actual value of assets
- Save time and money on claims
- Potential for same date settlement of claims
Verified Asset Register at Policy Inception
Proova's verified asset register is created at the policy inception after the customer downloads the app. The register provides an inventory of the high value items all the way through to everything insured.
Real-Time Claim Validation
Real time claim validation is provided from day one, and you will know what the customer has and when they had it as soon as the photograph is taken. From the moment of a claim the customer can upload photographs or videos of the scene or damage instantly enabling you to verify the claim.
Proova Score
Our unique Proova score for each section of the data provided to you gives you an immediate traffic light system to know with certainty whether the claim is likely to be fraudulent or good to go. We score the location, the ID and the images so your claims handlers are only dealing with the exceptions, not the claim as a whole.
The Business Case
- Reduce claims processing time by 50% or more
- Remove 90% of loss adjusting fees
- Remove disputes about under and over insurance
- Avoid up to 100% of claims exageration
- Avoid up to 100% of after the event fraud
- New lines previously thought too risky become profitable
- Save up to 100% of site survey costs
- Save time and money on claims
- Potential for same date settlement of claims
- Full API integration into your systems
- KYC on day of policy sale
- Get an asset/condition register before underwriting the policy (Classic Cars, Motortrade, Hospitality)
Faster, Hassle Free Claims
Clients report in tests that their claims were settled in just 5 days; Aspray Loss Adjusters report on average insurance claims take several weeks
Integration
Prooova is able to integrate in real time into insurers systems enabling you to get real time information as soon as the claim has happened, this integration means there is no requesting spreadsheets from clients, repeated email contact and a significant reduction in telephone calls.
Pricing
Proova costs from as little as £5 of policy, depending on the industry and the volume of images per policy with annual licensing available.
