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Software developed in SA aims to help process insurance claims faster

Technology streamlines claims process, predicts resources deployment

SAN ANTONIO – Software developed locally and used by insurance companies nationwide will be put to the test as Hurricane Harvey barrels into South Texas.

"(It's ) like if Match.com and Uber came together and made a baby for insurance claims," Larry Cochran, founder and CEO of Claimatic, said about his software.

Claimatic uses an algorithm to identify all the aspects of a claim  -- severity and location, for instance -- and match that claim with an adjuster who is most qualified to handle the job and fast.

"Considering their location, the number of claims they are working, currently, what their workload is, their calendar," Cochran said.

Claimatic was used in the aftermath of the tornadoes that hit the Alamo City in February, the massive hailstorm of April 2016 and Hurricane Matthew which struck North Carolina last year.

"What it will do is give the customer an instant satisfaction that their claim has been received, and there's a good qualified resource that's in contact with them quickly," Cochran said. "Within seconds, potentially, instead of days."

Claimatic also predicts where insurance companies need to send the most resources based on where their customers live and a storm's projected path.

"Instead of the old way of giving a stack of claims to an adjuster to work a county or a city, you can get it down to the neighborhood," Cochran said. "And you can give an adjuster a radius of a mile and a half."

The company, itself, is not immune to Harvey's threat.

Cochran said they are making sure their servers across the country are ready to go in case Claimatic's local server should fail during the storm. 

 

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