OEMs are struggling to strive in the dynamic market, due to manual work process while complying with consistently evolving rules. The focus of manufacturing OEMs has expanded and inclined towards streamlining Insurance claims Management Processing Software for customer satisfaction, improving claims turnaround time and efficiently managing resources.
Insurance claims Management Processing Software is a defining moment for a manufacturing organization and its relationship with its customers. In today's competitive market, effective claims management is one of the most impactful ways of retaining market share and profitability. Therefore, despite mounting regulations and dynamic market conditions, manufacturing OEMs around the world are seeking to improve their claims processes. Further, in order to improve customer acquisition and retention rates, OEMs are increasingly looking for ways to deliver a smooth claims experience.
Challenges
- High process cycle time
- Tracking and management of document
- Poor integration system
- Declining customer loyalty
- Capture fraud insurance claim
- Ineffective communication among departments
Manual platforms continue to weigh down customers with lots of data and provide only “snapshots” into the name of claim processing. To remedy this problem, comprehensive Insurance claims Management Processing Software offer enterprise-wide visibility and reporting, to enhance collaboration and sharing of information. By adopting an end-to-end process approach, OEMs can proactively manage the lifecycle of a claim—from FNOL right through to settlement, recovery, and closure. All participants can be integrated into the process to ensure tighter control throughout the claims supply chain. Insurance claims processing software offer powerful and user friendly interface, catering to the complete lifecycle of claims. It features components for efficient data capture, authorization and approval of claim, Payment tracking, parts tracking, legal matter processing and monitoring. The components seamlessly work together to make case processing more efficient, accurate, and productive. Insurance claims processing software covers all types of claims in manufacturing industry.
Benefits:
- Centralized system of claims workflow, customer document management and inter department communications.
- Paperless system by digitizing whole process like- info updates, claims intake, and other activities.
- Reduction of delivery time with pre-built and implementation ready solution accelerators
- Seamless integration with existing system and third party apps to leverage existing investments.
- Customization of software as per organization's need with a flexible and agile framework built on a configurable rule based platform.
Key Features:
Process Management: Dynamic process management according to business defined characteristics and process exceptions.
Business Rules Management: Dynamic rules facilitate for checking various policy breach conditions; hence, helping the claims officer's to accept or reject a claim.
Flexibility and Management of Workflow: Workflow flexibility ensures that a carrier can perform to its promised levels of customer responsiveness at all times. Further, it enables carriers to control overhead, labor and data storage costs, while bridging costly gaps between business processes
Data Capturing: Configurable user interface to define data elements as per specific requirements Increased Collaboration: A secure shared workspace on the corporate intranet or an external website facilitates cooperation among all parties to a claim and shortens the time it takes to settle the claim
Standard Integration: Seamless integration with all available applications.
Communication: Notification facility to inform dealers and customers as well as internal business employees about any change or update.
Dashboards: Sophisticated data analysis that goes far beyond canned standard reports Insurance Claims Processing Software, combines industry best practices with rich domain expertise. The solution allows organizations to avail the benefits of both, i.e. (dealer and customer) and can be deployed easily. Such features allow OEMs to opt for the 'out of the box' software and then configure it to meet 100% of their requirements. It helps in drastically reducing the time to roll out in the market as the existing functionalities of the accelerator can be availed. For more details about the software, connect to www.intellinetsystem.com.
