The road to success via efficient Claims Processing
The core of insurance business is Claims Processing. At this moment, insurance companies meets commitment to customers by setting standards of service and fulfilling its contracts. The claims operation relies on speed of processing and accuracy to meet the requirements from customers, as it includes many levels of administrators, managers, customer service staffs, and manual tasks as well as different formats of documents.
Challenges of Claim Processing
It takes huge amount of manual labor for traditional claims process. That's why the process is more and more inconsistent and errors are tend to be made. Especially when the work is outsourced, it's even more complex to get job done correctly. It's considered normal for companies to depend on unreliable workers.
Inconsistent input data
Paper, .pdf, .doc, .docx files, images, emails, and many other form of input dataare incompatible and not integrated. This leads to lack of consistent and accountability.
Insurance companies usually depends on many frameworks of legacy applications which handle their core business.In many cases, these applications are obsolete so that they do not work with new, modern solutions.
With many software, business processes, analytics tools, important data are usually dismissed or become very difficult to be retrieved. This could make the cost and time for data retrieval to be increased.
Regulation and compliance
Law changes can affect business processes a lot. Actually, in many cases, the whole business process need to be updated.This can be the bottle neck when your company have offices in many different cities or countries, which have different laws and regulations.
Our robots helps to integrate a variety of systems and applications, including CMS, ERP, Claim Application and many more. In addition, they make sure new integration works seamlessly with your legacy applications.
Accuracy and speed
RPA helps avoiding human mistakes in data entry and boost the processing speed by formalizing the work. With HyperAutomation, the average time required for processing is cut in half, while customer satisfaction is improved significantly . Cost is minimized as well.
By using HyperAutomation, all the cumbersome and dull jobs are handled by machine, so that human can work on processes which require creativeness and innovation.
Scaling up or down can be executed immediately. In addition, increasing volume does not add more cost.