Insurance for international moving often demands the services of a loss adjuster: the vital bridge between insurers and policyholders. They ensure that claims are handled promptly, fairly, and efficiently. With several factors including new technological developments like AI enhancing efficiency, we’d like to shed some light on how loss adjusters ensure best practice and maintain a competitive advantage in 2024.

IAM members learn how to do business better through IAM publications and subsequent networking opportunities. As 2024 advances, international movers need to understand that success centers increasingly on two key factors: building and managing high-performing teams is the first, with emphasis on how teams form, function and interact, and how the resulting synergy can be harnessed to drive efficiency. The second factor is today’s digitalization and automation technologies, with AI being the most noteworthy in 2024. The same two factors also leverage success for international loss adjusters.

To remind us: at its core, the primary function of loss adjusters is to investigate and assess insurance claims. Whether it’s property damage, liability claims, or business interruption, loss adjusters are tasked with scrutinizing the details, verifying the validity of claims, and determining the extent of coverage. Their expertise is instrumental in ensuring that policyholders receive fair and equitable settlements while safeguarding the financial interests of insurers. Considering the two forces of powerful teams and the command of technology, how do loss adjusters like Baker an Co. utilize them to leverage a competitive advantage?

First and foremost, the key to delivering unrivalled service to international movers is providing exceptional localized service. Dirk Koeleman, who is responsible for organizing Baker and Co.’s global network of claims inspectors, said this about the importance of forming strong teams: “No matter which stage of the international moving or storage process, a loss adjuster with an established, trusted and internationally expansive network of claims inspectors will result in the optimal outcome for all parties.”

To show how AI is harnessed throughout the claims management lifecycle by loss adjusters, the head of Baker and Co., Paul Baker, said, “With over 40 years’ worth of data at our disposal, AI rapidly and accurately references it all and verifies repair costs while determining pre-existing damages.” 

Baker and Co. Senior Claims Manager, Chris Baker added his expertise: “The speed and accuracy that AI injects into the claims management lifecycle is game-changing, resulting in us providing far higher levels of service and greater value to all parties involved.” Pointing out another benefit of embracing AI, Chris commented: “Our company has been dedicated to better environmental practices for some time now. Integrating AI into our processes and systems reduces claims management stages and minimizes travel, thus providing reductions in our carbon footprint.”

With AI augmenting loss adjusters’ risk assessment and mitigation capabilities by leveraging predictive analytics, companies like Baker and Co. can anticipate emerging risks and proactively recommend preventive measures to mitigate losses. Whether identifying trends in claims frequency or assessing the impact of external factors such as natural disasters or economic fluctuations, AI empowers Baker and Co. to stay ahead of the curve and adapt their strategies accordingly.

With so many advancements in such a short timeframe, it’s clear that loss adjuster firms that better harness the two forces of team building and IT integration will provide the highest service levels possible. To keep ahead of advancements in AI, IT and loss adjusting for international moving, ensure you stay subscribed to publications like Portal magazine for international moving success.