SOLUTIONS BY INDUSTRY
Insurance
Claims Management
Losses happen. Insurance companies today do their best in working with policyholders to minimize the frequency and extent of losses. Avoided claims are in the best interest of all involved including policyholder, insurance carrier, and reinsurer. However, the fact remains that insurance companies on average pay more than half of earned premiums on claims.
ScerIS understands this situation and has designed solutions to ensure that the loss claim gets processed as efficiently and accurately as possible to get the company or individual back “in business” as soon as possible. Through all of this claims handling, information needs to be made available to assist all involved in understanding the status of the claim. The optimized working environment we can help you create will ensure:
- speed without sacrificing security,
- accuracy without sacrificing resources, and
- excellent communication with customers and stakeholders.
In most industry surveys, the most important service for customers is the prompt and timely payment on a loss claim. Although one expects to disagree at times on coverage, loss amount, or subrogation recovery, all agree that the data and information must be readily available and seamlessly processed to meet the high service expectations in today’s competitive environment. ScerIS will partner with you in positioning your company to meet or exceed these high expectations surrounding servicing and settling a claim.
Examples of Common Opportunities:
Initial Notice of Loss
Get a jump on the claim service response. Claims can be called in, e-mailed, faxed, mailed or sent via web by the insured, agent or broker. Can your company handle these multiple sources of claim notices? Delays in initiating the claim processing will not only sidetrack the payment to the insured, but may also put you on the wrong side of the regulators and their industry standards for claims notification and payment.
ScerIS provides tailored solutions to your needs with initial notification claims handling. We have process optimization solutions incorporating OCR, E-Forms, imaging and workflow to accommodate the varied ways you receive that initial notice of loss.
Claims Review
There is nothing like an inch thick file for a loss adjuster to weed through in evaluating the loss. All sorts of evidence and policy information needs to be reviewed prior to an adjuster reaching a decision on loss amount. The evidence can take many forms including pictures, audio, video, medical records, contracts and other related correspondence. Providing a complete searchable and indexed electronic file to an adjuster or other team members is critical to effective loss reviews and eventual settlement. The paper file should not be part of your company’s office environment.
Loss Recovery
An important aspect of losses is the opportunity to mitigate and recover on each loss. By allowing the team members to retrieve critical information quickly, steps can be put in place to reduce the loss amount by communicating corrective actions sooner rather than later. In addition, our leading solution package can highlight potential areas of subrogation recovery based upon rules established on the front end of design. All parties benefit from a loss being minimized as well as finding areas where additional recoveries can be discovered.
Legal Proceedings
An unfortunate side of the insurance business is that some losses end in disputes between the insured and insurance company. ScerIS provides a means to store and retrieve documents related to losses no matter how far back the story begins. In addition, our PackandGo software gives an adjuster or other team member the ability to quickly search the hundreds of documents and export to a disk or e-mail for easy transport to anywhere.
Audit and Regulatory Requirements
After losses are settled, the documentation and storage need to be air tight for future audit and regulatory reviews. Providing an accessible and secure repository for the required time period will save on time and money in resources and storage. ScerIS enhances the business workflow by providing a capability to access claims files remotely by auditors. This saves time and money as well as eliminates the need to tie up claims department resources during audits and reviews.
» Contact us to learn more about Claims Management Solutions.