Subsidence claims spike – how can technology help?

The spike in subsidence claims after the long hot summer is piling massive pressure on the home claims industry – but it could be an opportunity to do things differently, says eviid chief executive John Ridd.

It’s estimated that subsidence claims have increased by 400% (souce: Crawford) as a result of the unseasonably warm and dry weather the UK has experienced in 2018 – including a raft of new claims alongside developments from existing ‘stable’ subsidence claims and the re-occurrence of previous, closed claims.

But technology could help insurers to reduce the bottleneck by speeding up the claims process as well as improving customer service to protect future business.

John Ridd said: “It’s no secret that the long hot summer has put a significant strain on the sector.  Adjusters and insurers are both being stretched to handle the volume of claims they are facing.

“This is not just a workload challenge; it’s also a customer service challenge. For many insurers, the customer’s first significant contact with the business is when they submit a claim and their experience of how that claim is handled is likely to sway their decision when it comes to renewal time.

“The good news is that technology can help, in fact it can transform the way insurers and loss adjusters manage often complex subsidence claims, speeding up the decision-making process and leaving customers feeling satisfied and more likely to renew at the end of their policies.

“Evidential video is a technology that is already making a major impact in the insurance sector, and specifically around claims handling.

“By enabling everyone involved in the process to submit and share certifiable video evidence of a claim, decisions can be made faster and repairs can be actioned more quickly.  The latest technology can even remove the need for a site visit or regular inspections altogether, freeing up loss adjusters and insurers to focus on other tasks.”

"Technology can be a game changer for those that bring it on board and in periods of peak demand it could even be the difference between a loyal customer and a cancelled policy.” - John Ridd, CEO