(Zurich. Image source: translatejake YouTube channel.)
Zurich Insurance Group (Zurich) has entered into an agreement with Snapsheet (Chicago), a provider of virtual claims technology for the personal and commercial insurance marketplace. The vendor characterizes the agreement as marking a global expansion for Snapsheet, allowing its digital services platform to be available in multiple countries across Zurich’s operations in Europe, Latin America and Asia Pacific.
“The collaboration with Snapsheet will allow Zurich to further streamline the claims journey for our customers and provide additional innovative services,” said Ian Thompson, Zurich’s Group Chief Claims Officer. “Our customers will have additional options to report claims and communicate with Zurich to speed up and simplify the claims experience. As we build a culture of innovation and greater agility into our business, we are very excited to enter into this strategic relationship with an insurtech that is paving the way for new innovation in the insurance industry.”
Snapsheet’s software as a service (SaaS) platform allows intake of information from various customer channels, including e-mail, text, or a web and mobile app, which the vendor says allows insurance carriers to better engage customers and process claims more quickly. It also enables them to directly deposit payments into customers’ bank accounts, easing the claims process while providing superior customer engagement and workflow optimization, according to Snapsheet. The software covers auto, property and injury for personal and commercial claims, and incorporates automation derived from data collected from over 1 million processed claims from more than 70 top-tier carriers and non-traditional industry players.
Augmenting Zurich’s Existing Systems
“Snapsheet has already processed more than $2.5B worth of claims in the U.S. through our software platform,” comments CJ Przybyl, Snapsheet co-founder. “We continually leverage our own claims data to provide real-time R&D that enhances the functionality and automation of our claims processing software.”
“Zurich recognized the tremendous value to be gained from the Snapsheet suite of software across multiple lines of their P&C business,” Przybyl adds. “Our ability to capture claims information from any medium, coupled with pro-active workflows, will help augment Zurich’s existing systems—ultimately providing a higher level of service for their customers.”
The enhanced Snapsheet services will be made available to Zurich customers in Ireland first. The insurer plans to expand the services to additional countries across its operations in Europe, Latin America and Asia Pacific.