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360 Globalnet : At The Cutting Edge Of Claims Processing

Paul Stanley, Founder and CEO,  360GlobalnetPaul Stanley, Founder and CEO
Scenario one; you have recently filed an insurance claim following damage in your induction hob. Within two days of the receipt of the claim, the insurer sends a surveyor to carry out an inspection and process your claim. The surveyor gathers necessary information, cross-checks with your application, and leaves your house assuring to get the claim processed as soon as he can. But more than a week pass by, and you have no update on the status of your claim. You make a few phone calls and find out there has been error in your form-filling, and hence, you need to start the process all over again.

Scenario two; also you filling for your damaged hob, but this time, your insurance provider is far more modernised and processes your application digitally—no physical form-filling, no fuss. And to your surprise, within the next two working days you are installing the new replacement for your damaged induction hob at your kitchen. Isn’tthat supposed to be a record-breaking claims closure or what!


At the core of the company’s offerings is its digital insurance platform, 360SiteView—which creates a single digital claim record and can be accessed by all permitted parties along the supply chain

But, the million-dollar question is if the latter scenario is even possible or it’s too good to be true. The answer is a resounding yes, and its enabler is the award-winning insurance tech company – 360Globalnet. The company’s goal is to provide digital online platform technology that will revolutionise the insurance claims process by offering customers the same standard of experience as that of online retail shopping.

Claims Caught between a Rock and a Hard Place, No More!

Undoubtedly, the phrase ‘seamless claims processing and management’ is hard to come by. The long turnaround periods due to paper-based processing; the loss of information and errors in communication between multiple parties; and the lack of meaningful data due to siloed operations makes the whole claims management process fragmented and inefficient. Whenyou are stuck in an endless loop of claims processing with an insurer, anything is far from seamless, and all you want to do is switch to a more efficient insurance company.

At this juncture, a company is helping insurance companies break free from the shackles of legacy systems is 360Globalnet. With its comprehensive online cloud-hosted digital claims solution, 360Globalnet is changing the status quo of the insurance claims industry.

A Better Way to Control Claims Supply Chain

360Globalnet’s world-class and fully-integrated products and services, namely 360SiteView, 360Retrieve and 360ClaimServices, provides new digital solutions to age-old insurance problems. The company mission lies in transforming the end-to-end customer experience from the inside out, mitigating the inefficiencies throughout the insurance business.

  • D.A.V.E. allows customers and others to follow a detailed online guided process to provide the exact information and evidence that would otherwise have been obtained face-to-face

The company is of the belief that the conservative nature of insurance tech industry, along with its burdensome and clunky processes, have increasingly slowed its workflow, thereby making it frustrating to customers and costly to insurers. 360Globalnet’s solutions is a far cry from the conventional insurtech solutions, enabling insurers to quickly ‘go digital’. “Our technology and services also help carriers, brokers, agents and more. We are helping our clients work to their full capacity, to delight customers, improve efficiency, combat fraud, reduce claims costs and keep premiums competitive,” says Paul Stanley, founder and CEO of 360Globalnet.

At the core of the company’s offerings is its digital insurance platform, 360SiteView—which creates a single digital claim record and can be accessed by all permitted parties along the supply chain. Thus, no data is duplicated, all calendar entries are synchronised, and the whole process is transparent. Moreover, the virtual tools provided by 360SiteView make the entire claims process collaborative; the insurer can see exactly what the supplier is doing and monitor progress. By keeping the process transparent, the insurer is also encouraged to maintain full compliance to its service standards and the deliver quality job that doesn't come with any hidden extras.

Complementing the digital insurance platform, 360Globalnet offers data analytics solution, 360Retrieve, for improved fraud detection and business intelligence insights. 360Retrieve provides sophisticated operational business and management information without the need for technical knowledge and without disrupting an insurer’s existing systems. Almost all common document formats, such as letters, CNFs and medical reports are turned into structured data via 360Retrieve, which can then be visualised in over 600 analytical formats, including link charts. These reports can be effectively used by the insurance companies to compare historical and emerging trends, and make accurate assessment of future risk based on past claims experience. To that end, the solution also has a proven record of combating and reducing insurance fraud by up to 40 percent. “And to top it all off, our triple redundant cloud-based offering is secure, scalable and meets all compliance objectives,” informs the founder-CEO.

Why Companies Use SWOT Analysis

Meet D.A.V.E.—the Virtual Face-to-Face Inspection Agent

Previously, in situations where an insurer had to conduct on-site visits or interviews, they would have usually sent an agent or loss adjuster to gather evidence for assessing the damage or loss, or simply gather evidence. But now, they can do this entirely virtually.

D.A.V.E. allows customers and others to follow a detailed online guided process to provide the exact information and evidence that would otherwise have been obtained face-to-face. This solution is exceptionally coming in handy amidst the present COVID-19 pandemic situation. In the words of Stanley, “No-one saw a seismic change like COVID-19 effectively changing companies’ operational and business models overnight. Our no-code online digital technology allowed us to very quickly respond and build a technology to replicate any face-to-face requirement and, unlike other simple live streaming technology, D.A.V.E. has a comprehensive feature set to provide a collaborative customer-friendly experience.”

Moving forward, 360Globalnet wants to keep adding more innovative digital solutions like D.A.V.E. to its claim management solution portfolio and help organisations manage claims better and ensure a cent percent client satisfaction. “We want to be widely recognised as the benchmark in both insurance and technological innovation,” shares Stanley. And in that pursuit, his company is quickly growing; its solutions and services are now being used by major insurers across Europe, North America, Asia and Australia.

- Pamela Morgan
    May 02, 2021
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Top 10 Claims Processing and Management Solution Companies in Europe - 2021

Company
360Globalnet

Headquarters
Surrey

Management
Paul Stanley, Founder and CEO

Description
360Globalnet is an independent digital technology and services business focused on the worldwide insurance industry. The company’s goal is to provide digital online platform technology that will revolutionise the insurance claims process by offering customers the same standard of experience as that of online retail shopping. At the core of the company’s offerings is its digital insurance platform, 360SiteView—which creates a single digital claim record and can be accessed by all permitted parties along the supply chain. Thus, no data is duplicated, all calendar entries are synchronised, and the whole process is transparent