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5 Key aspects of recorded statements

5 Key aspects of recorded statements

By: Kevin

27 Sep 2021

Any insurance process starts with the recorded statements, as it is an integral part of the whole process involved in dealing with an insurance claim. It is an interview between the claims adjuster and the claimant who sought to get the insurance for any loss they met. While the recorded statement is determined as the nitty-gritty for any claims file, it is also seen as a piece of first-hand information that gives momentum to a case.

To understand recorded statements

An insurance claim is a formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event. The insurance company validates or denies the claim. If it is approved, the insurance company will issue payment to the insured or an approved interested party on behalf of the insured.

Once a claim has been filed by a claimant, the part to substantiate the claim and frame a financial payout becomes the insurer’s duty. Almost in all the cases, the responsibility of the insurers doesn’t limit to substantiating just the veracity of the claim, but also to find and determine who is at fault and how much the actual payout be. Therefore, recorded statements play a key role in determining the 5 Ws and 1 H i.e, “who, what, when, where, why, and how” details behind a claim.

Furthermore, the use of a recorded statement will act as a catalyst by being an extra hand of support to a claims adjuster in an insurance claim. It will add value and be a crucial piece of paper during the investigations. It is well known that any insurers who are given humongous tasks to handle will look for ways to upgrade the processes and augment their productivity. This can be better achieved by utilizing an efficient insurance transcription service provider, who could work on the recorded statements with utmost precision.

At Transcription Hub, we not only handle insurance transcriptions but also deal with various other types of transcriptions. Having an accomplished expert force of human transcriptionists we tend to complete each file with the highest standards. Don’t look anywhere for the best transcription as we here list down some of the best services we offer.

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While the recorded statements become the first layer of defense, in any case, they should be meticulously observed and recorded. At Transcription Hub, other than recorded statements we also generate other reports and some of them are claims, field investigations for theft, property damage, accidents, etc., summary reports, fraud investigation/probes reports, insurance claimant statements, insurance interviews, telephone conversations, insurance meetings, carriers insurance, third-party administrators insurance, and independent adjusters insurance, etc.

As we comprehend the advantage and necessity of the recorded statements, we shall dig deep and understand five distinguished aspects of recorded statements.

Aspect 1: To form a complete case file

In the claims process, the recorded statement transcriptions are the opening gate to crafting a timeline of events from various perspectives. Meanwhile, the claims adjusters rely not only on the information provided but also depend on a unanimous timeline and the congregation of information that form a story. In the interview, while each voice starts to emerge, the claims adjuster will begin to verify, validate, substantiate or entirely debunk the story upon meticulous discretion.

Therefore, any recorded statement transcription will ensure that the claims adjuster has a window to refer or point out certain vital information as the recorded audio files are converted into textual verbatim scripts. Hence having a qualified transcription service provider provides an opportunity for the liability examiner to observe and notice prime details that may have not sounded much prominent and relevant over the mobile conversation, but would make a huge difference in the final phase of the investigation. This helps the examiner to determine who is at fault for an incident.

Hereby, it is cited that forming a complete case file is not just about raw data, but it is about how the fragments of information are being collated and used to make a whole case.

Aspect 2: To compare the statements against other sources

This is the phase of substantiating the transcribed statements that are earlier recorded in audio format. Once the recorded statement is transcripted, the claims adjuster moves to verify the veracity of the information provided.

The adjuster will require to contrast transcriptions against statements from the police, witness, and any medical details from paramedics. These documents will be placed side by side to compare every word by word and sentence by sentence. The comparison ensures that the version of the narration by the claimant and the witnesses matches up more or less.

The use of the recorded statement transcription is an incisive and excellent way to trace how the version of stories takes its shape over time. The statements from the claimant or the witness may sometimes change as they misremember certain details or could be daunted by the deeper memory of the incident that happened. Some of these ‘changed’ statements will be a piece of major information and could alter the case. Therefore, comparing recorded statement transcription against other sources will help to find the deviations or additions to the case.

Aspect 3: To discover anomalies

Detecting anomalies is the third aspect of the recorded statements. Indeed, the transcriptions are useful to compare, verify the utility and veracity of the data against other sources, however, it is to be remembered that these recorded statements -- are set in stone when it turns to be a hard copy. Hence if any fraud is determined and the case moves to law enforcement, these documents become a shred of evidence to be presented in the court. This is a huge factor for the insurance companies to mitigate the loss acquired and would prevent perpetrators from becoming habitual offenders.

Aspect 4: To transfer files between dept/insurers

It is uncertain for any insurers to look after a case without intervention. A claims file gets transferred between various insurers or between departments. Factors like file review, the severity of claims, or job replacement could make a person, who is new to the facts and stories deal with the case. In such circumstances, to make the process handy and timely, the recorded statements paves a way for the novel adjuster to access the information with no difficulties.

Aspect 5: To be a hand-tool for the adjusters

Last but not the least, having an experienced and skillful workforce of recorded statement transcription provider create a path for the insurers to save time as the process becomes so handy. It helps the adjuster to focus on other priorities by eliminating the time constraint issues. The recorded statement aids to be a great advantage for any insurance adjuster.

Recorded statement transcription services from Transcription Hub give you absolute control in capturing and storing recorded statements, dictations, and adjuster reports. With a thorough understanding of the peculiarity of the recorded statements, Transcription Hub offers several options to record and transfer your recording with complete ease.