Claims Management
Claims management costs comprise a significant amount of some insurance companies' operational expenses-as much as 20 percent. And since the claims process directly affects customer satisfaction, claims management is one of the most critical functions of your business. Reducing claims management costs, even by a small amount, can have a significant, positive impact on your company's performance.
| Making a claim for better business with Predictive Analytics Software from IBM-SPSS Premierline Direct obtains efficiencies in pricing, marketing and reporting with SPSS Solutions. Read more |
Claims management solutions from IBM-SPSS use predictive analytics to help you reduce cycle times and minimize costs while improving the productivity, accuracy, and consistency of your claim handling process and minimizing the risk of fraud.
Claims management solutions from Presidion can support your claim handling process by enabling you to:
Combine risk profiles with business rules to resolve legitimate claims in as little as one phone call.- Automate claims processes and decision-making, and implement continuous process improvement.
- Make better use of skilled investigators by enabling your staff to focus only on high-value suspicious claims.
- Minimise claim payments and reduce fraud with real-time alerts of suspicious activity.
- Improve customer service and keep costs down by streamlining the claim handling process; for example, industry studies show that fast-tracking legitimate claims reduces customer frustration and minimises the likelihood that policy holders will take negative action.
- Decrease the amount of time it takes to process a claim by several days on average by improving claims routing, providing adjusters with suggested tasks and real time assessment of adjuster statistics.
- Improve subrogation results by focusing on the claims more likely to pay you back.
- Build and use methods for scoring claims particular to state differences, lines of business, or times of catastrophe.