While Terra is a comprehensive Risk Management Information Systems, it does provide different strengths for different jobs. In this case Brokers and Adjusters can take different things out of Terra. Depending on which part of the process your are assigned or your job, Terra will provide you with the tools you need.
In this article we are going to focus on the different capabilities Terra gives Adjusters and Brokers. However, firstly we need to understand the differences between adjusters and brokers, what part of the process they are involved in and how Terra can help each of them to improve their claims management.
The Difference Between Brokers and Adjusters
The difference between brokers and adjusters are not obvious. While both are indispensable to the claims resolution process, confusion persists regarding their roles and responsibilities.
Adjusters could be denominated the Swiss Army Knives of Claims Management. Adjusters engage in negotiation, communicate with policyholders, and ensure fair settlements. Their expertise extends beyond the investigative lens to encompass a comprehensive understanding of policy terms, coverage details, and intricate claims processes. Adjusters are not only there to evaluate; they orchestrate the claims symphony, ensuring a balanced and fair resolution for all parties involved.
Brokers on the other hand, assist in navigating policy complexities, communicate with insurers on behalf of clients, and provide expertise in ensuring optimal claim settlements. Brokers are invaluable advisors and advocates for their clients. Their role extends beyond securing insurance coverage; brokers provide critical support during the claims process.
They are the voice of policyholders, actively involved in every step of the insurance journey.
How Terra Helps Brokers and Adjusters
Claims management is a collaborative effort where adjusters and brokers play complementary roles.
Adjusters benefit from the insights provided by brokers regarding the insured’s specific needs and circumstances. Brokers, in turn, rely on adjusters to assess damages accurately and facilitate fair settlements.
A harmonious collaboration between these roles enhances the efficiency and effectiveness of the claims management process. At the same time having a collaborative process helps keep data safe.
Terra helps adjusters evaluate and assess quickly and efficiently. Because it’s a centralized location for documents, journals and communications while it allows to manage claims and policies.
Furthermore, Terra helps brokers by providing them with a seamless experience where policy holders can be up to date instantly thanks to Terra’s automated workflows.
See Terra for yourself
That’s not everything Terra can do. With Terra you can do the following:
- Benchmark your performance against your own records or your competitors.
- Connect with the Ancillary services marketplace to provide faster answers for your policy holders.
- Manage your insurance policies.
- Keep your data safe in the cloud. Terra is cloud-native.
You can see these features for yourself by asking for a free demo with our sales team. Terra is the future in claims management.