On our website it states that our applications are updated over 20 times every business day with new laws and regulations. A common question we get it – is that true? It is! It’s probably double that at the moment with all the changes in each state due to COVID. The follow up question to that is – How?
Our typical response is that we have a lot of spreadsheets! But now we think it’s time for us to give you a behind the scenes look on our updating secrets. Are you ready?
1. We do have a lot of really good spreadsheets that we work off of. They can overwhelming at times because of the amount of information on them but they are an amazing tool. I’m sure you’re thinking…what information is on them? Great question! For each state, we keep track of active emergency orders and directives with the expiration dates and the corresponding links to websites where they information is kept. EVERY SINGLE DAY we go into that website and see if any new regulations have come out that impact the P&C insurance industry. Our spreadsheets keep track of expiration dates so we know when a regulation is expiring and know to look to see if there’s an extension. Yes, we do this every single day!
2. We have a compliance team. Companies that have lawyers typically have lawyers to protect their business, but our team is a little different. Our team of attorneys review laws and decide which ones are applicable in our industry and then put them into simple terms for anyone to understand. Again, updating our applications for any changes in laws or enhancing our products by adding new content! Here’s a secret…what is an attorney’s least favorite season? Bill season! Could you imagine having to read 100 bills that were just signed to find what impacts the P&C insurance industry? Woo, what a job our team has!
3. Our entire team is dedicated to keeping up with changes that impact claims adjusters. It’s our full-time jobs! Every day we check governor’s news, state news, etc. to see if there is anything that our customers need to know. If so, we update our applications! It really is a full time job keeping all the information up to date. Claim’s adjusters have to know so much and work with customers everyday, so we pride ourselves on keeping information up to date so an adjuster can just hop on the application and find their answer – quick and easy! Hunting down laws and regulations shouldn’t be what they spend hours doing. That’s why Claim Toolkit was invented!
So yes, we really do update our applications over 20 times a day! I think most of us at Claim Toolkit have learned more than we ever thought possible about P&C insurance laws and regulations because of this! Why hunt down the information if we already have it in a database, ready to go? Out motto is, “Your team needs the right information so they can make the right decision, right now,” – and now you know how we hold true to that!