This is the first in a series of blogs on how to prevent claims adjuster burnout using risk management technology. This blog focuses on creating work-life balance for adjusters and why that matters to any claims organization.
Claims adjusters are really the unsung heroes of the insurance industry. They often receive little reward and little respect for being on the front lines, even though they can have a major impact on claim outcomes — whether it’s in the form of client satisfaction, detecting fraud or reducing claim costs for all stakeholders.
Those claims organizations that are unaware of their claims adjusters’ value, or ignore the looming shortage of claims professionals, will likely struggle on a go-forward basis — unable to attract professionals to provide the top-of-the-line service that their customers demand.
In fact, 25 percent of insurance industry professionals are expected to retire by 2018, creating an even larger talent and experience gap than already exists, according to a study by McKinsey and Co. Talent shortages equal gaps in service, which can then translate into fewer satisfied customers.
As such, claims organizations would be prudent to facilitate work environments that enable claims professionals to stay engaged and do their best work — satisfying and retaining employees and customers alike. After all, a disengaged workforce often makes for disengaged customers — and therefore, potentially, less revenue.
Here are three ways you can prevent claims adjuster burnout:
- Establish work-life balance
- Make work meaningful
- Build and sustain a robust workforce
These may seem like lofty or intangible goals, but fortunately, they’re manageable — and even measurable — with the right risk management technology. Let’s start with discussing how risk management technology can help establish work-life balance for adjusters and why you should care.
Establish work-life balance for claims adjusters
Complaints of erratic schedules and being expected to do “more with less” are not uncommon among claims professionals.
Claims adjusters’ often carry a heavy case load, chock full of paperwork and administrative headaches — not to mention the actual thought-provoking work of investigating claims, resolving conflicts and striking a balance between providing top-notch customer service and looking out for the interest of their employers.
As such, the hours are long and stress can be high. However, the right risk management technology can streamline and automate a multitude of the administrative tasks involved with managing and administering claims — freeing up adjusters’ time for both their sake and the sake of their employers, who will also benefit from a more productive workforce.
For instance, the right risk management technology can:
- Create a paperless claims process that eliminates time spent shuffling paper around, as well as reduces redundant data entry. Electronic incident forms can be automatically converted into electronic claims forms with just a few clicks. Relevant data is auto-populated instead of manually reentered by a claims professional.
- Offer one central repository for all claim data and communications regarding claims — reducing time-consuming back and forth communication regarding claims in one-off emails and phone calls that are difficult to track.
- Automate a wide variety of tasks, including creating and sending first and subsequent reports of injuries to states in a compliant fashion; processing payments; and assigning and tracking claims-related tasks throughout the organization. Certain data inputs trigger these predetermined workflows in the system, alleviating adjusters from having to drive any or all processes on their own accord.
- Simplify report creation and sharing with automatic data visualization tools; regularly scheduled data feeds so all claims data is automatically uploaded and reflects real-time information; and dashboards that allow a variety of users to see information in a variety of formats without the adjuster having to create unique one-off reports time and again.
Such capabilities aren’t mere bells and whistles — or just “nice to haves” — attached to risk management technology. They are actually time-saving solutions (and only a small sample, at that) that help solve for the problem of having an over-burdened workforce.
Work-life balance for claims adjusters: Why you should care
Now, if you’re not a claims adjuster — or, in other words, the person burning the midnight oil and constantly putting out fires — you might wonder why these professionals’ work-life balance matters to you. But it does. And if you are a claims adjuster, you might wonder if such technology could replace you. But it won’t.
Work-life balance isn’t code for “all play and no work.” It’s really just another expression for productivity. Professionals who aren’t burned out are more productive…and productivity is important for the business no matter your role. Claims adjusters who aren’t bogged down with administrative grunt work have an opportunity to showcase their more advanced skills of problem solving — a skill set that should be in high demand for any claims organization.
Risk management technology offers claims adjusters the tools they need to be more productive — and as a result, do more meaningful work that will have a greater impact on the business, as well as how they feel about their roles within the business.
While risk management technology might reduce the administrative to-do lists of claims adjusters, it will also increase their value to any claims organization.
Learn how to streamline the claims administration and management process at your organization, using risk management technology.