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The CEO Views > Blog > Magazine > ENTREPRENEUR VIEWS > VIRTUAL CLAIMS ADJUSTER: Revolutionizing the Insurance Claims Industry with Technology
ENTREPRENEUR VIEWS

VIRTUAL CLAIMS ADJUSTER: Revolutionizing the Insurance Claims Industry with Technology

CEO
Last updated: 2021/06/14 at 6:06 AM
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VIRTUAL CLAIMS ADJUSTER
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The founder of Virtual Claims Adjuster (“VCA”), Lee Picano started his career in the insurance industry working as a claims adjuster. After 7 years, he decided to follow his true passion and became a technology guru. Once a certified guru, he decided to combine his passion for technology with his domain expertise and started building claims management software. VCA is over 15 years old, so the journey was slow and methodical, one customer at a time. As he realized that there was a growing demand for VCA, he made the leap and focused exclusively on VCA and at the same time, talked his wife into joining him. Together they started this amazing journey. Ilda Cairns joined them and has evolved into the most valued member of VCA’s team. Ilda is now a key member of the organization’s management team and brings the same passion even today as she did 14 years ago. VCA started as a claims management tool build by an adjuster with an adjuster in mind. Today, VCA continues to evolve as it addresses all lines of insurance and is used by insurance companies, third party administrators, IA firms, self-insured entities and captives globally.

Virtual Claims Adjuster’s business platform pioneered various new concepts in the insurance industry. “VCA is built by an adjuster for adjusters”, said John Varghese, CEO, Virtual Claims Adjuster. Concepts such as the introduction of Software as a Service (SaaS) business models, both user and incident-based costing options, enhanced environment options, mobile platforms, and many more. The VCA brand has become synonymous with quality and we are best known for our industry-leading uptime and reliability, rapid support response times, and ability to offer consultative services as required. Customers have always come first. This client-first approach is still a core tenet of its culture. VCA did not have an external-facing sales team until recently. The company’s sales growth came from word of mouth and the references of its satisfied customers. Today, VCA is in over 15 countries and steadily growing.

Dealing with a diverse group of companies around the world provided VCA with the opportunity to learn about the demands that are placed on different regions and different companies as well as the business challenges that they face. This information is very valuable when building a claims system, as it allows it to implement solutions to problems that some of its clients have yet to face. In addition to this key information, it ensures that VCA pays attention to its clients’ input. All product enhancement requests are tracked and monitored by its Support team. When a specific feature is frequently requested, VCA completes an in-depth review of the feature. VCA’s business analysts help to identify how the feature will affect other clients, industries, or in some cases other features in VCA. Based on the analyst’s workflow recommendations, its interface team will put together mock-ups of how the feature will look and how it will be used. At this point its development team builds the additional VCA feature, it flows through our quality assurance team for testing and is scheduled for deployment.

Technology is advancing rapidly. Inefficient operations can no longer compete with the efficiency and accuracy of firms that have implemented an advanced claims management system. Working with clients around the world has shown how even small course corrections can make a big impact and drive significant efficiencies, client satisfaction, and business growth. These benefits make even more impact as companies scale in size. Virtual Claims Adjuster is very user-friendly and easy to train new staff on. It is always changing and updating, with the support team that is very fast to help when there are questions or requests.

In today’s complex business world, it has become increasingly important that insurance file handlers are utilizing some form of claim management software. Claim Management software helps organizations become more efficient and organized. If properly executed, it should allow companies to offer a higher level of service with less overhead, thereby increasing their bottom line. There are several claim management software systems on the market today. File handlers can determine which suits their needs concerning:

  • Costing
  • Scalability
  • Quality of service
  • Data Analytics
  • Integrations
  • Flexibility
  • How evolved the feature set is

Mapping to the insurance industry work flows and the claim management processes have allowed VCA to be infinitely flexible. This allows the organization to not only satisfy all lines of insurance, but also become a solution to various other industries such as case management, third party administrators, Lloyd’s syndicates, property management, municipal incident management, self-insured organizations, and the transportation and legal industry. At the core, VCA is a very easy to use, intuitive system for its users. The journey was about customers,   service,    and functionality. Knowing the industry from the ground up has enabled VCA to offer a comprehensive solution.

VCA offers the best services by implementing high level technologies and data analytics backed by Security and compliance.

VCA offers the best services by implementing high level technologies and data analytics backed by Security and compliance. Virtual Claims Adjuster has plans for technological expansion on Tech stack upgrades; payment processing; data analytics and artificial intelligence and adding policy management. VCA was the first to offer SAAS products for the claims industry. The organization takes pride in the continuous evolution of VCA and as such is excited about upcoming evolutions to our technology road map and not all of which can be shared at this time. VCA will enable better use of data by its customers by providing an enhanced analytics engine. It will add policy management to the offering in the near future.

With proven ROI, VCA pays for itself quickly. Additionally, it can also help clients tap into revenue streams that would not have been attainable without a web-based application. Virtual Claims Adjuster’s clients become more efficient, deliver a higher level of service, and can take on more work without having to increase their overhead. VCA is committed to its clients and their continued growth and success in their chosen industries. Over the past two decades, VCA has become more than just another web-based Claims Management System. Virtual Claims Adjuster has become a recognized brand among insurers, claims syndicates, and business professionals worldwide.

CEO April 12, 2021
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