Adapting to Technology

The first methods of transferring risk were practiced by Chinese and Babylonian merchants as early as the Third Millennia. This practice of transferring risks has since become known as insurance. The practice at its core remains the same- taking measures to reduce risk in case of a loss. Insurance technology on the other hand has varied greatly even just in the past ten years.In the new millennium where technology is changing so quickly, insurance adjusters have had to adapt extremely quickly to new technologies that are meant to make the job off assessing loss easier. But this isn’t always the case. If adjustors aren’t trained properly to use the newest technologies they may be doing more harm than good. According to a recent article on Property Casualty 360, “Insurance carriers need to know that estimating software in the hands of untrained adjusters has caused more problems than handguns and tequila combined”.

Well we don’t know if untrained adjusters can compare to the effects of handguns and tequila, but we can agree that technology is only as effective as the person behind it. It’s important for insurance carriers to take advantage of the many new technologies that are available to them. Contents “insure to value,” inventory and valuation technologies are revolutionizing the property insurance industry and ushering in a new era of profitability in homeowners that insurance carriers have never seen before, but there’s more to this sea change than technology alone. Brokers, agents, adjusters, field inventory specialists and the insured themselves all need to understand in their own unique ways how this technology works and how best to use it to improve the bottom line and get life back to normal again as quickly and smoothly as possible.

We are constantly evolving and learning new things. When used properly and in combination with the human touch, technology can dramatically improve the speed, accuracy and quality of our work so we can focus our attention on more important things like being an ally for the insured in a way that technology can’t be.

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