Benefits of Automating Claims Processing
Reduced cost per claim
Automated claims processing reduces the amount of time to process a claim, allowing you to reduce the administration cost per claim by 10-15%. Automation also eliminates inefficient labour-intensive processes associated with handling high volumes of paper, along with paper handling costs such as copy and print consumables, postage and storage space.
Improved claim team collaboration
Capturing and converting paper claim forms to electronic format allows claim documents to be stored in a central online repository with secure access. This facilitates sharing of claim documents with colleagues in different offices and external partners such as adjustors or solicitors, meaning that decisions can be made on a claim in hours or days rather than weeks.
Improved claim tracking
Electronically captured claim documents enable automated routing through claim handling workflows. This allows easy tracking of each claim in the system and timely identification of issues such as bottlenecks.
Improved customer service
The ability of automated claim processing to speed up claim handling helps deliver better customer service. In addition to accurate tracking of claim status or faster decisions, setting up a customer claim management web portal can allow customers to submit claims online. A self-service portal can also help reduce inbound customer call volumes and ease claim team workload.
Improved claim processing compliance
Managing your documents electronically with the DCS FileStore solution helps meet compliance obligations such as Solvency 2, the Data Protection Act and BSI Code of Practice. Electronically captured documents managed by FileStore have automatic traceability, eliminating the chances of being mislaid and delivering a reliable audit trail. Specific compliance requirements are automatically applied to captured claim documents using workflow rules. This reduces reliance on the knowledge of individual claim handlers and allows alerts to be triggered when compliance related action is due.
Offshore claims processing
Claims scanning and electronic document management can facilitate offshore claims processing by eliminating the need to transfer paper documents. Instead, the ability to provide secure online access to electronic versions of claim documents allows retrieval and subsequent processing from any internet enabled location.
Excellent integration with line of business systems
The DCS automated claim processing solution is designed to complement existing line of business applications by delivering greater functionality in handling the document intensive tasks which burden your back office processes.
For further details see: automated claim processing software integration
Thinking of automating your claims processing - Flexible Use and Charging Models
To discuss how you can benefit by automating claims processing talk to one of our business consultants on 01753 616720 or email query to email@example.com.