New feature release: Dynamic FNOL and Incident Stacking Logic

The Story of Loss

It’s 8pm on a Saturday, rain is coming down and the last night of the day is escaping quietly over the hills in the distance.

A courier comes into view, wrapping up another delivery, the latest in the rotating carousel of pick-ups and drop-offs which defines their day.

Suddenly, that drop-off takes its turn. A boom, a bang, the confusion set-in. 

Thankfully, nobody’s badly hurt. Neither our courier, nor the driver of the car which wiped them clean off their saddle. The car, though, has seen better days. 

The courier, shaking, brings themselves to their feet only to be confronted by an impatient driver trying to solve it as quickly as possible. 

Enter, the First Notice of Loss (FNOL). Completed in a rush, containing one blurry photo, no details on the other party, and a description that reads ‘car hit me on crossroad.’

The next morning, the same report lands on a claims handler’s desk. The person starts their day investigating the story. Who was at fault? Where did it happen? Were there witnesses? Is there damage to the scooter, the car or both? 

None of it is filled out properly. Because the FNOL failed its job,  Now multiply this on every incident across a fleet, and the problem isn’t one bad report but the whole system behind it. 

This way of working sets people up to fail at the worst possible moment. 

Small changes to the process can change the whole outcome.

Why an Upgrade is Needed

To avoid the outcome of delayed payouts, claim denials, higher deductibles, or accusations of fraud, FNOL is an important first step in this process. 

FNOL matters for your insurers, so they can acknowledge and investigate accidents. The moment it’s received, the decision is made based on it, either accepting or declining it.

The worse the data, the slower the resolution. 

A better experience also prevents any secondary damage from escalating and there’s a better chance for any additional statements captured from witnesses, when the memory is still clear and fresh. Allowing to mitigate fraud, since there’s less time for dishonest patterns to emerge.

How Cachet Sets the New Standard for Claims Intake

FNOL can be made either hyper detailed, that it’s hard to fill out in the moment of stress or not detailed enough to process it properly later. 

Cachet’s new dynamic FNOL is made keeping in mind the personal needs and need for information on the claims handling side. A poor product experience can break entire claims operations, from missing photos, gaps of information and loose descriptions. 

We have a dynamic on-scene capture path, helping to support and guide people through the process in a more structured way. Only questions that are crucial in the moment of time are going to be asked, the rest of the report can be filled out later on their own time and space.

Next an intelligent report is customised to serve the right questions aligned to the incident and gather all the necessary information. It helps us group, sort and assess loss notice smartly within the Cachet platform. Enabling smoother claims verification and an enhanced reporting framework.

Smarter Incident Stacking Logic

Not only FNOL reporting got better but the whole claims system with it. Reporting adapts intelligently to each accident, making claims handling faster to file and easier to manage. Showing a clear overview of each claim status. 

Our enhanced Incident Stacking Logic helps to increase the time that’s spent on sending the document back and forth. The platform is designed to request any missing information within it. No more fragmented communication across your team.

The biggest change involves how claims that are from the same accident are now stacked together. You get one accident and see involved claims under it.

Simplifying your operations to handle every claim in relation to the incident they relate to. No more multiple claims to chase in different places relating to a single accident. 

FAQs

What are the benefits of using Cachet’s Dynamic FNOL?

FNOL is structured and put together keeping people’s needs in mind and helping them in high stress situations. They have an option to fill out a quick on-scene form first and fill out the details later. The report you receive comes back complete and detailed, information you collect from it, is clear and structured. 

What can you get out of the Incident Stacking Logic?

It offers a more efficient and faster way to file claims and see their overview. Offering for you to communicate on it on the platform, having structured interventions and reminders to bring visibility to status, alerts and nudges to safeguard against inaccurate or incomplete submissions. Showing you an oversight of each step and status in isolated or interconnected claims. 

What value does Cachet offer you when working with us?

Cachet is between platforms and insurers. We don’t just place a policy and step back. We aggregate data across platforms to build an accurate picture of real-world risk, use that to secure better terms from our insurer network, and give you a better insurance programme. Smarter insurance, less admin. 

What services does Cachet offer?

Cachet is built for modern platform economy, offering adaptive insurance solutions. For platform operators, we offer coverage for car fleets, car-sharing, e-scooters, e-bikes, cargo bikes, and other micromobility assets. For gig workers, we have active-hours coverage for ride-hailing drivers, couriers, and delivery riders. The platform also includes modulus for claims reporting, vehicle booking and rental, driver behaviour analytics, and parking management.