Why Custom Technology is an Essential Part of the Hazard Claims Process

Posted by DIMONT on June 8, 2017 at 10:00 AM

hazard insurance check.pngThere are few components of the modern mortgage business where technology is not a requirement for efficient operation; indeed, without our modern technology platforms, we would simply not be capable of operating in a compliant manner. This is particularly true when it comes to managing the complexities of the hazard claims business, where technology plays a pivotal role.

Historically, we had trouble finding software platforms on the market that met our needs and those of our clients, so we have chosen to develop our own proprietary platforms. As a result, we are able to interface directly with many of the systems used by our clients, as well as the systems in use by the nation’s property preservation companies, who often work closely with the same mortgage servicers with whom we partner. Additionally, we can interact directly with providers of lender-placed insurance products, allowing us to more easily share data, file claims quicker and report back to our clients with extreme accuracy.

With this technology in place, we are able to download and view property photographs, enabling us to speed up the hazard claims filing process. This process also makes it possible to automatically report to our clients directly from our system each night. Several of our clients also accept a data feed from us directly, which allows them to update their databases with hazard claims information daily – something that would not be possible without our customized technology.

To maintain these systems, we have our own internal Information Technology team. While many on our staff are integration specialists, we also employ programmers, data security personnel, report designers and database experts who are responsible for updating our technology on a weekly basis, ensuring that our clients’ needs are met in a timely fashion.

Ultimately, our system was built from the ground up to ensure the most efficient claims processing possible, making us a tech-enabled service provider, not a technology company that can just handle insurance claims. With 21 years of proven experience leveraged into the design of the platform, no one has a better optimized system for doing the work we do -- which, in our case, means tens of thousands of insurance claims successfully completed each month.

In our business, reputation means everything. We’ve built our reputation on our ability to do our job better than anyone else, and our technology is designed to support that mission while protecting the reputations of the companies we serve. We cannot allow a technology-related problem of any kind to impact our customers, which is why we have invested in building it and maintaining it ourselves. In our opinion, no buyer should settle for less.

Topics: Hazard Insurance