Automating Claims Processing

Processing claims is rarely a straight forward operation especially as the volume of claims has increased considerably over the last few years. According to a survey conducted by Gartner, 2010, the key drivers for automating claims are:

  • Reducing the cost of claims processing by improving processing efficiency and increasing first pass claims completion.
  • Increasing customer retention and providing better customer response times. 
  • Addressing changing compliance requirements and policies such as Solvency 2, changes in health regulations and increasing premiums.
  • Identifying fraudulent claims as early as possible. 

The majority of claims still originate in paper form and it is not possible to achieve cost efficiencies without putting in place a system to manage the lifecycle of claims electronically. Filestore EDM (Electronic Document Management) and FileStore BPM (Business Process Management) help capture, categorise, process and store all claims-related documents. These documents can be accessed by adjudicators, claims managers, lawyers or even front office staff located in distributed offices without any delays or mistakes.

Document management solutions for the insurance industry Download the brochure - Insurance sector solutions

 
Our claims processing automation solutions benefit you by: 

  • Reducing turnaround time for each claim application considerably by facilitating the exchange of documents easily between claimant, adjudicator, adjustors and other staff.
  • The browser based application allows remote parties to view claims and provide remote settlement services.
  • Enabling teams to respond to customer calls faster and receive accurate information, documents and pictures from the claimant easily.
  • Helping avoid upfront CAPEX IT investments by offering hosted  "per claim" charged SaaS solutions in addition to on-premise installed solutions.
  • Helping meet all compliance standards including the BSI code of practice, Data Protection Act, Solvency 2 or underwriting procedures.

Implementing a document management system and automation of the claims processing lifecycle has a major impact on the companies top line revenue because it allows insurers to offer competitve premiums and retain more customers.

To discuss how Filestore can be tailored to automate your claims processing operation, speak to a DCS business consultant on 01753 616 720 or send an enquiry using our Contact Form.