ClaimTouch provides an AI-powered platform that automates property insurance claims processing, from first notice of loss to settlement. The platform uses machine learning to analyze claim data, assess damages, and streamline workflows, enabling insurers to process claims faster and more accurately.
Funding
Funding not disclosed
Founders
Product
Problem
Property insurance claims processing is often slow, inaccurate, and inefficient, leading to increased costs and dissatisfaction for both insurers and policyholders. Traditional methods involve manual data entry, lengthy processing times, and a lack of transparency, making it difficult to identify irregularities and potential fraud.
Solution
ClaimTouch offers an AI-powered platform designed to automate and streamline property insurance claims processing from first notice of loss (FNOL) to settlement. The platform leverages machine learning algorithms to analyze claim data, assess damages, and automate repetitive tasks, enabling adjusters to focus on strategic activities. By connecting adjusters, policyholders, and service providers on a single platform, ClaimTouch creates a single source of truth with all claim documents in one place, enhancing accuracy, reducing processing time, and improving the overall claims experience. The system automatically prices inventory, applies depreciation, calculates replacement cost value (RCV) and actual cash value (ACV), and flags potential fraud, providing adjusters with peace of mind and enabling quicker claim closures.
Target Audience
ClaimTouch primarily targets property insurance providers, claims adjusters, and other insurance professionals seeking to streamline their claims processing workflows, reduce costs, and improve customer satisfaction.
Features
- AI-driven analysis of claim data to identify irregularities and potential fraud
- Automated pricing, depreciation calculation, and RCV/ACV calculation
- Carrier-branded settlement letter generation
- FNOL capabilities for policyholders and agents via any device
- Claim data import from unstructured sources
- Collaborative platform connecting adjusters, policyholders, and service providers
- Advanced analytics with drill-down capabilities for organizational insights and adjuster performance monitoring
- SOC 2 level security, processing integrity, confidentiality, and privacy standards
- Cloud-based solution with 24/7 availability and no integration required