Automating Management of Claims – from Receipt to Resolution
The best place to start automated claim processing
The challenges for businesses receiving a high volume of claims include avoiding backlogs and responding to customers promptly. Rapid processing of claims is also essential to reduce impact on profitability and competitiveness.
Automated insurance software can bring a range of benefits to claim processing when implemented at the receiving or mailroom stage. Here, incoming claim documents can be digitised and released into automated workflows for routing to the correct handler or software application within minutes rather than hours or days.
Claims scanning and capture
The sophisticated technology used to scan and electronically capture paper claim documents delivers high document throughput while automatically classifying items using intelligent document recognition. The same mail handling process can be used to automatically capture, classify and route items such as claims, policy applications, letters of complaint, invoices and other business critical mail.
The ability to automatically detect and extract information such as names or policy numbers from captured documents such as claim forms, medical records, police reports, repair quotes, adjuster reports or legal documents can accelerate routing to the appropriate handler. Capturing all case related documents electronically allows them to be stored online in a single electronic case file.
Capturing claim documents from multiple submission channels
The same technology can be used to capture claim documents received as faxes, emails or web forms which means all claim data enters the claim handling process in the same standard electronic format. The process is also ideal for integrating digital claim support materials such as digital camera images and digital video footage into case files.
At the heart of automated claim processing is an electronic document management system which efficiently stores all documents in a central repository. With secure online access, this means that colleagues in different offices and externally located partners can work on the same claim document simultaneously, enabling faster decisions.
An effective tool in the fight against fraud
Automated claim processing software presents key advantages for timely detection of fraudulent claims. Automating the claim receiving process means that incoming claims are validated immediately against existing customer and claim records. Easier and faster sharing of new claim documents means they are available earlier on other systems for working on by other parties.
Tracking the claim process end-to-end
Implementing automated claim processing from the mailroom stage allows a range of claim metrics to be monitored using management reporting capabilities. This can include monitoring incoming claim volumes and matching against work-in-progress data. Managers can obtain data on handler workload and productivity and identify potential bottlenecks at an early stage. The status of an individual claim can be checked at any time.
To know more about our claims processing solutions please talk to one of our business consultants on 01753 616720 or email to email@example.com for more information.