FNOL

AcronymDefinition
FNOLFirst Notice of Loss (insurance industry)
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References in periodicals archive ?
Adjusters should ask questions to gather complete information about the accident scenario and use insight to inform and customize smart questioning included in mobile or web-based FNOL solutions.
Mobile FNOL tools, for example, can be configured to ask questions about the incident or guide customers through taking needed photos, while telematics and diagnostics systems can gather vehicle data and inform repair or settlement decisions.
Once all of the important data points are collected during FNOL, insurance companies should use that information to help understand the exposures and send the claim down the right path.
When it comes to the injury portion of the claim, the data collected at FNOL can help triage the claim based on injury type and expected severity.
Anyone who'd like to progress into Claims will have a head start after completing the placement and plus they'll also be able to take their experiences back to their colleagues and improve the FNOL process.
Whitfield in his new role will build the FNOL team in the Denver office that will open at 10375 Park Meadows Drive in Littleton, Colorado with full functionality by Spring 2011, besides CNA's FNOL team in Reading, Pennsylvania the company further said.
The Artizan FNOL module could lower these costs to the $3 to $5 dollar per-claim range, depending on the carrier's technical capabilities."
* Performs better than the industry FNOL average rating in addressing four or more services within 15 minutes
Power's research that claimants tend to be more satisfied when their FNOL call lasts fewer than 15 minutes.
In essence, the technology removes this burden from the claims professionals, walking them through what they must ask during the entire FNOL process so they can focus on the claimant by showing empathy, answering questions, and making sure the claimant knows he or she is a valued customer.
"Settlement is the biggest driver in customers' experience, accounting for 41 percent of what informs their overall assessment of the claim, whereas FNOL accounts for further 25 percent of index score."
Despite the overwhelmingly positive implications of the 2013 study findings, insurers will need to foster more nurturing FNOL interactions to keep customers happy over the long haul.