When a hurricane or widespread weather event strikes, claims surge, adjusters are stretched thin, and billing disputes skyrocket. In these high-pressure moments, insurers, TPAs, and reinsurers face an impossible balancing act: move fast, pay accurately, and keep policyholders satisfied — all while managing massive volumes of property restoration invoices.
That’s where NovaData’s Rest-Assured® platform steps in. By combining AI-powered invoice auditing with deep industry expertise, NovaData helps carriers and claims professionals process invoices in minutes, uncover costly billing errors, and accelerate settlements — even during CAT-driven spikes in claim volume. Our automation technology delivers faster payouts, fewer disputes, and lower claim leakage, giving your team the speed and precision needed when it matters most.
Did you know that each year, carriers, reinsurers, and self-insured companies are potentially leaving hundreds of millions of dollars on the table after severe weather events?
Our analysis of over $600 million in mitigation invoices for leading insurers have detected more than $150 million in billing issues.
Right now, the combination of more severe weather events, declining numbers of seasoned adjusters, and approximately 70% of all premium dollars going to claims is pushing carriers to the brink.
Below, we’re going to show you 5 ways how AI analysis of property mitigation invoices can not only save you money, but it can enhance the customer experience and free up your adjusters/consultants to spend less time and money on manual invoice review and more time on addressing pressing adjustment issues requiring their expertise.
1. When Emotions are High and Resources are Spread Thin, Rest-Assured Can Be Used to Scale Post-CAT Operations
After a CAT, emotions run high, resources are spread thin, and the exchange of information critical to the invoice reconciliation process becomes protracted.
NovaData’s tech-driven audit platform utilizes an objective data set and industry guidelines that all parties (i.e., insurers, property owners, and restoration companies) can rely on to avoid costly disputes and shorten “time to payment.”
Our platform applies consistent data-based logic, removes bias, and minimizes costly human errors, ensuring fairness for all interested parties.
This allows carriers to analyze invoices in a scalable and consistent way (without the need to add headcount), identify billing irregularities, and ensure that they are paying only what is owed.
2. Digital Auditing Tools Enable Faster Cash Flow, Benefitting All Parties Involved
The time required to complete an invoice audit and identify “undisputed amounts” essentially determines the speed with which payment can be made to the policyholder and/or its contractor.
In the period immediately following a CAT, NovaData works hand-in-glove with insurance adjusters and building consultants to dramatically accelerate the time required to complete thorough invoice reviews without overlapping services.
Because NovaData can process an invoice in minutes and typically generates its detailed report within a day or two, adjusters or consultants can commence negotiations and resolve potential disputes with contractors sooner, allowing insurers to close claims faster.
3. NovaData’s Automation Unlocks Significant Time Savings Without Sacrificing Accuracy
Our technology leverages real data from invoices submitted by restoration companies for payment, as well as industry standard and best practices. With every invoice we process, our data-set becomes more robust and the model gets smarter.
While many worry that automation sacrifices detail, NovaData’s technology can process complex restoration invoices faster, more accurately, and efficiently than manual-based processes.
This time-savings allows adjusters and consultants to keep claims moving forward, leverage their expertise on more complicated claims issues, and provide a “human touch” when policyholders need it the most.
4. AI-Powered Audits Help Detect Overbilling Trends That Manual Audits May Miss
One of the benefits of AI is that it can quickly (often in a matter of minutes) analyze thousands of claims across regions to identify pricing anomalies; after a QA review, reports are provided to the paying party within 48 hours. The report highlights billing anomalies for adjuster consideration.
Such widespread anomaly (on average ~25%) could not possibly be caught in a timely fashion by traditional manual audits, particularly not during a disaster surge, when claim loads are high and experienced claim professionals are typically at capacity.
Automation allows insurers to scale up and down on the fly without the need to add headcount.
5. Data-Driven Auditing Builds Trust Between Insurers and Property Owners
Rather than creating conflict, technology enables transparent audits backed by hard data as well as industry norms and guidelines. This transparency can actually improve long-term relationships between insurers, property owners, and their contractors.
How Much Are Billing Errors Costing You?
While claims are inevitable, carriers and companies managing losses within their retention can gain control of claim costs and reduce “leakage” by using automation to quickly review invoices to uncover billing errors and overcharges.
Stop leaving money on the table after CAT events. Get a 60-day no-obligation trial of NovaData’s AI-powered Rest-Assured® platform and start saving now.
The Quick Start program is a 60-day trial period that will allow use of the platform at either standard per-audit rates or an optional monthly flat fee that covers up to 25 audits, regardless of their size. Visit our Quick Start page to learn more!
