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Articles, product updates, and industry insights on claims automation, valuation, and insurance workflowsReinventing Claims: How ValueChecker Delivers Speed, Savings, and Satisfaction
The traditional contents claims process is broken. It is slow, inconsistent, and often leaves both claims handlers and policyholders frustrated. Hours are wasted manually searching for product information, valuations are subjective, and the customer experience...
What Is LKQ (Like Kind and Quality) in Insurance Claims?
LKQ stands for like kind and quality. In contents insurance, an LKQ replacement is a currently available product that matches the claimed item's specifications, features and quality level. When the exact item is no longer sold, which is true for most claimed...
ACV vs RCV: How Insurers Calculate Contents Claim Payouts
Every contents claim comes down to one question: what is this item actually worth? Insurers work with two answers. Replacement cost value (RCV) is what it costs today to replace the item with one of like kind and quality. Actual cash value (ACV) is the RCV minus...
Closing the Data Gap: Why Precision is the Antidote to Claims Leakage
Moving from manual guesswork to automated intelligence in propertyclaims Across the insurance industry, the focus has shifted from simple claims processing to claims precision. With social inflation rising and supply chains remaining volatile, carriers are under...