Nicole Friedman

speaker

798 appearances 16 recordings 1 series first heard Aug 2017 last heard Dec 2024

Nicole Friedman’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · How Contractors Can Drive Up Hurricane Irma Costs · 24 Oct 2017 podcast

Thanks for having me. matched

WSJ Your Money Briefing · That Drone Hovering Over Your Home? It's the Insurance Inspector · 7 Aug 2017 podcast

Yeah. matched

So traditionally, with a car accident, you call your agent or your insurance company and report the accident. matched

And then they schedule a time for a person to come out and look at the car and decide, is it drivable? matched

What kind of repairs does it need? matched

What happens next? matched

And now in a lot of cases, particularly fender benders, kind of smaller accidents where the car is clearly drivable but just has some damage, matched

These companies are now encouraging people to use their apps on their smartphones and take photos of the damage or take a video of the damage and send that remotely to the insurance company so that no person actually has to come out and look at the car. matched

But instead, somebody back in an office somewhere can look at the photos or the video and then determine an estimate for what the damage will cost to repair based on that. matched

And that can save a lot of time, both for the insurance company, they don't have to send somebody out, they don't have to pay those labor costs, but also for the customer who doesn't have to wait for someone to show up and schedule their day around an insurance person's schedule, but can straightaway get an estimate and then take their car in for repair. matched

Yeah. matched

So the primary one is definitely customer experience. matched

We are all just used to doing things on our phone and used to doing things faster. matched

And the insurance experience, in some ways, is still behind the experience that we're used to with our banks or with buying things online. matched

A lot of times, insurance still requires phone calls, still requires paperwork. matched

And so matched

In general, insurance companies are really focused on, you know, how can we modernize this experience? matched

How can we make it better for the customer and match, you know, what they're expecting from a company? matched

And then on top of that, this can definitely save them money. matched

Insurers spend about 11 cents of every dollar that they receive in premiums on claims handling. matched

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