Today’s Post By: Will Sellenraad, Principal, Insurance, Pyramid Solutions, Inc.
According to the Association for Information and Image Management (AIIM), 52% of organizations work from three or more systems and 62% of organizations strongly depend on the file share as a key repository.* That means insurance providers are unintentionally using disparate processes and creating content dumping grounds.
The headache begins with structured logic (aka workflows) that cannot manage exceptions and everyday changes such as incomplete information, background searches or requests for additional information.
It’s amplified by unorganized content that demands adjusters to jump between applications/systems dreadfully searching trying to find the information needed to make a correct and important decision- Should I pay out this claim or not?
Leading insurance providers have bypassed these common pains by leveraging document capture and case management technology. Providers are now automatically capturing content from virtually any channel and properly managing content. Automated rules aggregate (previously siloed) claims data, policy information, supporting documents, audio, video and photos into a case file, and route incoming claims to adjusters based on type, skillset and workload.
Advanced case management solutions with document capture, can help significantly reduce cycle times and operating costs for claims departments. They allow multiple adjusters to work on a claim at the same time and make ad-hoc tasks feasible. Shared content is the foundation of this approach. It brings people, processes and information together in the context of a case, making claims processing a dynamic and fluid system.
While shared content is foundational for advanced case management, advanced case management is foundational for high client value.
Watch our 10 minute on-demand webcast to hear how insurance providers can harness case management to help reduce costs, process claims faster and most importantly, provide value to your customers.
This blog is the third in a four-part series: Smarter Content, Smarter People, Smarter Claims Processing. Interested in following along?
Part 1: The Insurance Landscape
Part 2: Empower Your Claims Reps
Stay tuned for Part 4: Focusing on Smarter Claims Processing
* Source: AIIM Market Intelligence ECM Decisions 2015
IBM ECM 