FNOL

(redirected from First Notice of Loss)
AcronymDefinition
FNOLFirst Notice of Loss (insurance industry)
References in periodicals archive ?
Snapsheet processed more than 6,000 claims starting August 17, 2017 and ending September 7, 2017, with an average cycle time of just over one day from first notice of loss to the final appraisal.
As carriers search for ways to improve customer relationships, they need to think about all the touch points in the process, from first notice of loss through the investigation process, and assure consistent high-quality communication with claimants and brokers.
Recognizing that it earl take several weeks for a suspect paper claim file to arrive on the desk of investigators, some leading carriers are now implementing fraud cheeks at the point of first notice of loss.
Finally, it is important to score a claim from first notice of loss through final disposition.
Compliance will primarily involve a company's internal procedures around the first notice of loss process and claims processing.
The advantage is that these assignments occur at the first notice of loss as opposed to weeks or months later.
Artizan explained that the FNOL module is designed to smooth the first notice of loss during the claims process.
AIG Claim Services RMIS' Web-based IntelliRisk[R] e-Services include: First Notice of Loss, providing online claim submission and tracking; IntelliRisk NetSource[R], offering real-time claim analysis and ad hoc reporting capability, "profiling" potentially high-cost claims and "alerting" users of key claim events; IntelliRisk NetData[R], for electronic loss run distribution; an online Medical Provider Listing; and IntelliRisk Wireless[R], providing access to a wide range of claims information on Web-enabled mobile devices.
ICN is a key product within CalAmp's proprietary, patented and patent-pending automated First Notice of Loss (aFNOL) services suite, and is designed to be delivered as an incremental service to existing and future CalAmp device customers.
When these platforms incorporate cognitive-based artificial intelligence and historical claims data, insurers will be able to conduct triage at the first notice of loss.
The firm attributes the uptick in satisfaction, in large part, to consistent communication with property claimants, beginning at first notice of loss (FNOL).