Manage the Claims Process Efficiently and Get Back to Business
Hurricane Matthew has wreaked havoc along the Eastern coast and caused tragic loss of life, extensive property damage, and business interruption. Flooding, high winds, and power outage have forced companies to incur extra costs. Add to that ingress/egress issues and operational risks, and the task of disaster recovery can be daunting.
How a company manages the claims process after an event heavily impacts the time it takes to get back up and running. Natural disasters can strike any time, as can other business crises, such as supply chain interruptions, cybersecurity incidents, or acts of terrorism. Efficient business recovery will save time, money, and limit the risk of losing customer confidence and market share.
Challenges in the claims management process include:
Being prepared with a disaster recovery plan before events occur is the basic foundation for getting back to business. Managing the claims process after the event also significantly affects success.