March is Ethics Awareness Month, but we celebrate doing the right thing every day at Snapsheet. In fact, it’s one of our core values. ‘Do the right thing’ is one of five values we live by in every interaction, every day.
Having integrity means we trust each other and being transparent means being honest even when it’s tough. And these values are more than just lip service. Because when we decided on our guiding principles, we named them after our founder, Brad. Our code of ethics, the BRADS, has become Snapsheet’s north star.
You already know the D stands for ‘Do the right thing.’ Here’s a quick recap of our other core values: Be the Next; Remember the Feeling; Action is our First Instinct; and Stronger United. Read more about our core values on our site, but for now, let’s talk about ethics and doing the right thing.
Ethics Awareness Month Shines a Spotlight on Doing the Right Thing
Employees working in the insurance and risk management industry have to consider ethics in their work. Every part of the insurance lifecycle is heavily regulated, so besides doing the right thing for policyholders following ethical standards keeps employees in compliance.
Ethical awareness is so important to the industry that March has been named Ethical Awareness Month by the CPCU Society. Most employers include ethics training as part of their onboarding process and annual refresher training for employees. And for us at Snapsheet, we’ve made ethics an integral part of everything we do.
Doing the right thing means acting with integrity. It means doing what we say we will and sticking to our word. And it means trusting each other. We act with transparency and openness. And all this creates a culture at Snapsheet where doing the right thing isn’t optional — it’s a core value.
Doing the Right Thing Made Easier With Snapsheet
Snapsheet’s digital claims services can help you do the right thing, too.
Automation helps fulfill the claims promise
The claims function is all about fulfilling the insurer’s promise to the policyholder to be there in times of need. The insuring agreement is a contract of utmost good faith. Policyholders must be able to rely on their insurance company to meet its obligations and promises.
One way insurers can better meet customer expectations is through automation. Automating workflows reduces cycle time, which means your policyholders get payments, communications, and resolution sooner.
Choose to automate various parts of your claims process with Snapsheet’s Claims Management platform. Our cloud-native, fully digital system lets you customize your claims handling workflow. Designate some claims for straight-through processing where our system manages everything from FNOL to payment while allowing for more investigation on the claims that warrant further review.
Automation also means you’ll pick up on fraud red flags earlier in the process, allowing you to route those claims to SIU. And your adjusters can focus on the more complicated claims that require human intervention.
Automating various aspects of the claims process streamlines the customer journey. Faster handling leads to quicker resolutions, lower expenses, and shorter cycle times — which can also lead to greater customer satisfaction and NPS scores.
Automation helps reduce bias
When you automate, you reduce the potential for human errors since processes are batched without employee intervention. You’ll benefit from the obvious increase in speed from automated workflows. But you also remove a potential source of inherent bias in your system.
Humans have unconscious biases, even when we work diligently to be neutral. This can be a challenge when handling claims since claims employees must be fair and treat all policyholders the same. But our own personal bias can affect our work even when we try not to allow that.
In claims, this could look like adjusters requesting IMEs or EUOs more frequently for certain populations or denying claims for some policyholders. While the extra investigation or denial may be warranted on some claims, it can also become a trend regulatory agencies could explore if there is an appearance of bias in the claim handling.
Automation can reduce this potential for bias by skipping the adjuster review. Straight-through processing can reduce cycle time and possible bias in claim handling, helping your adjusters do the right thing.
Learn More About Snapsheet’s Digital Technology
Snapsheet provides digital technology for a digital world. Learn more about how we can help you do the right thing through digital tools and automated workflows.
Contact us for your free demo today and see why doing the right thing is a core value at Snapsheet!