May 2014- Claims fraud is known to be a debilitating problem for the profitability of insurance companies (Aite Group estimates claims fraud in the P&C industry alone costs the US insurance industry $64 billion a year) - but what about for the general public? The Insurance Research Council points out that up to one in four Americans sees it as acceptable to exaggerate their insurance claims to compensate themselves for previous claim-free years of premium payments or ...
March 2014- SaxonMG strives to be the number one choice for auto insurance in the Cayman Islands. To help achieve this objective, SaxonMG chose to implement SIMS Claims to process auto claims with a high level of efficiency, cost savings, and customer service.
March 2014- For health insurers, data integrity and visibility are key to successful integration with the Federal Marketplace. However, complex processes and trivial errors can lead to data gaps that impact revenue, profitability and member satisfaction. Adopting a standardized approach to data integrity early in the process is critical to successfully adapting to the technologies and processes of the Affordable Care Act.
May 2013- We recently worked with a regional multi-line Property and Casualty Insurance Carrier who was struggling to leverage their internal data to detect unusual patterns, potential frauds and anomalies within their claims. They estimated it was costing the company roughly $10M in additional paid losses each year due to litigated claims, employer/employee linked fraud rings, unchecked MPNs, smaller but more frequent claims involving body shop, claimant, attorney and adjuster fraud ring including unnecessary payments to ...
Automate the analysis of information hidden away in documents received by your claims department, such as bad faith allegations, time limit demands and department of insurance inquiries, that have strict deadlines and require specialized handling.
Our 5 minute presentation reviews examples of how you can:
• Identify critical documents, match them to the correct claims file and meet all deadlines
• Avoid higher loss settlements, punitive awards, and unneeded legal fees
• Strengthen relationships ...
Despite investments in the latest claims management systems, data warehouses and analytical tools, you are overlooking valuable information hidden away in free form text fields such as claims adjuster notes and documents in electronic formats such as PDFs.
This white paper demonstrates how insurance companies can access and analyze the 50%+ of your claims data that is just out of reach.
• Reduce annual claims and LAE costs by millions of dollars<...
Every time your company contacts a customer is an opportunity to solidify a relationship, or drive them to a competitor.
By analyzing the cycle time and quality of all customer touch points, from FNOL to settlement, you can fundamentally shift the way you interact with the people critical to your future growth and profitability.
• Save millions in claims loss dollars
• Grow revenue through increased client retention
After investing millions of dollars and countless hours over multiple years to implement, is your claims management system providing the information and analytical capabilities that you need?
By analyzing adjuster notes and content in electronic documents - the 50%+ of information that is often overlooked by a claims management system - you can gain unprecedented insight into your claims operations.
Read this paper and learn how to leverage this information to reduce ...
Why are you making decisions with information based on only 50% of data available in your workers' compensation claim files?
Read our white paper and learn how to automatically pinpoint indicators for drug abuse, obesity, malingerers and other red flags across all of your adjuster notes and free form text fields.
Reduce costs by identifying people pre-disposed to
longer-than-needed recovery periods
Enhance client satisfaction by speeding return-to-work
August 2012- Kemper's P&C units are deploying a centralized shared service for claims correspondence and policy assembly using the Thunderhead CCM solution. The project aims to improve the user experience, ensure forms compliance, cut forms maintenance costs and deliver multichannel customer communication.
May 2012- Even in 2012, there might be light at the end of this long tunnel of economic trouble, it's tempting to put aside technology investments until the economy officially improves. But insurance companies that do so risk falling farther behind their forward-looking competitors that are already taking steps to improve their internal systems and processes. And when you consider the fever-pitched battle underway to lure customers from one insurer to another, the differentiation provided by advanced technology ...
Automating mobile workforce management can allow insurers to increase efficiency and improve service levels. When business is tough, that's a great advantage. With customer demands for better service increasing, many insurance providers can find themselves squeezed.
By automating mobile workforce management, companies can achieve a 10 to 20 percent increase in efficiency, freeing money to improve margins while increasing service levels.
This white paper will discuss:
• Customer appointment scheduling
• Automated ...
Delivering outstanding claims service centered on policyholders' needs changes customer perceptions in a positive way and boosts the brand. While claims is a "people" business, technology plays a key role in achieving this coveted objective.
Customer-centric claims service can grow your company image with every fulfillment of the promise you made when you wrote the policy. Growing the image also grows the business by retaining good customers and attracting new customers who demand ...
January 2012- With Fujitsu, you get experience that counts. We understand your challenges and have developed best practices for the insurance industry that can drive revenue and time-to-success, while also reducing costs. Indeed, a dozen or more of the world's leading insurance carriers are already enjoying the high utilization and superior return on investment (ROI) delivered by our unique value-add.
January 2012- Transform your Property and Casualty (P&C) Insurance business in the Cloud. Fujitsu and salesforce.com play a key role in achieving cost reduction and customer/employee service improvement in the "high touch" P&C insurance market: Sales, underwriting, fraud, policy administration, claims processing, Business Process Management (BPM) and customer service.
January 2012- Transforming the Insurance Enterprise with Cloud Computing - Get Closer to Customers and Partners and Improve Sales and Service. Fujitsu and salesforce.com can play a key role in helping you optimize "high-touch" insurance processes such as: Marketing and Sales, Underwriting and Policy Administration, Claims and Customer Service. We understand the challenges the Insurance industry is facing and can demonstrate the benefits of transforming your processes to the cloud. Read about this and our solutions ...
October 2011- Insurers lose millions each year through fraudulent claims. Learn how leading insurance companies are using data mining techniques to target claims with the greatest likelihood of adjustment, improving audit accuracy and saving time and resources. Read this paper to learn how to combine powerful analytical techniques with your existing fraud detection and prevention efforts; build models based on previously audited claims and use them to identify potentially fraudulent future claims; ensure adjusters focus on claims ...
May 2011- In this eBook, Verint Systems takes a closer look at the opportunities for improved efficiencies left on the table by current technology and practices. Verint explains workforce optimization- a software solution for improving staff productivity and performance in the back office, as well as in other parts of the organization. Back-office workforce optimization solutions are now available to help insurers process more customer transactions with fewer resources, reduce turnaround times and costs, improve bottom-line profitability ...
April 2011- How does an insurer strike a cost-effective balance between claims efficiency and policyholder service? Insurers can start by optimizing their claims value chain - the people, processes and resources required to achieve the optimal claim outcome - to improve the efficiency and effectiveness of claims operations.
December 2011- For nearly all lines of personal and commercial insurance, reducing the cost of claims processing is key to profitability. Reducing cycle time, the elapsed time from opening a claim to its settlement, is key to customer satisfaction. Moving to a fully automated process is a goal for claims processing of nearly all insurance executives. Companies are at various levels of automation and often do not have an appropriate strategy to achieve higher levels of automation. <...
January 2011- Tough times give rise to innovative solutions. It’s one of history’s enduring lessons. Today’s economy is stringent, and one word describes the outlook for today’s Workers’ Compensation insurance market, “guarded.” The economy is plagued by inflation, lagging productivity, immense national debt, a sizable trade deficit, and feeble growth. The country’s labor market has experienced a collapse in private sector wages and salaries, and employment continues to flounder. Workers’ Compensation premium ...
March 2010- For nearly all lines of personal and commercial insurance, reducing the cost of claims processing is key to profitability. Reducing cycle time, the elapsed time from opening a claim to its settlement, is key to customer satisfaction. Moving to a fully automated process is a goal for claims processing of nearly all insurance executives. Companies are at various levels of automation and often do not have an appropriate strategy to achieve higher levels of automation. <...
July 2010- LexisNexis? Claims Solutions and Mitchell International have joined forces to help insurers improve claims outcomes by combining the unique data and predictive analytics of LexisNexis Claims Solutions with Mitchell's market-leading medical bill review and decision-support workflow solutions. One of our initial focuses has been to address the challenges associated with handling severe auto injury and other difficult and expensive "special needs" claims situations. The new white paper Enabling Claims Excellence: The power of a predictive-modeling ...
Information technology that supports tightly integrated, end-to-end business processes can increase insurer responsiveness and customer loyalty.
Download this whitepaper to discover techniques that will help you:
• Handle Customer Interactions More Effectively
• Optimize Customer Contacts
• Make Offers in Real Time
• Enhance Customer Service
• Improve Communication and Collaboration
This guide focuses on the challenges of creating and delivering personalized marketing communications across multiple publishing channels.
It examines the creation of multichannel marketing communications, the role of content and data management, and how software can be used to automate and manage various production and delivery processes.
View All Categories
INSURANCE: Architecture/Infrastructure, Claims, Customer Insight/Business Intelligence, Distribution, Management Strategies, Policy Administration & Management, Regulation/Financial Systems, Security/Risk Management