Claims processing is vital to the success of both large and small companies within the insurance industry. Settling a claim request is just one part of the puzzle, the entire process end-to-end encompasses many different stakeholders to verify and approve the request. The insurance claims process is still a manual one, involving long paper trails and many manual tasks that can put great amounts of stress on employees. Workflow automation can help maintain great customers relationships to help boost company image, and reduce the number of manual tasks required in the claims process.
Insurance processes are variable, relying on certain criteria to be met before settling a claim. Long approval loops, unstructured processes, and integrations that are not managed centrally create an environment of process uncertainty in the insurance industry. Health insurance claims can also be a point of contention, where customers are eagerly awaiting approval of medical claims. Claims data can come in the form of handwritten notes, emails, document attachments, phone calls, and instant messages, making the data entry far more manual, taking more time. Meeting stringent deadlines for legal and compliance reasons is of the utmost importance, helping insurance companies to avoid costly litigation.
Processing all manner of documents, both digital and analog, with digital assistance can dramatically cut down claims processing cycles. FireStart together with our technology partner Dox42, scans documents to retrieve and input data so humans don’t have to. Automatically trigger Dox42 to begin scanning, while backing up and storing documents within FireStart’s centralized repository for full transparency.
Approving a customer’s claim request can be a lengthy process involving many stakeholders and meticulous checks. FireStart assists insurance companies in speeding up this approval process while retaining quality vigilance. Make approvals clear within every claims request, standardizing the process, and sending alerts via Microsoft Outlook or Teams. Add business rules to control approval parameters such as permissions levels, due dates, and required documents.
Insurance personnel no longer need to fill in documents manually. FireStart claims automation system uses smart technology to pull data from various documents to quickly compile reports, documentation, and invoices in seconds. Reduce cost and employee time, shortening the overall claims process cycle with workflow automation.
Use workflow automation to approve claims quickly, keeping customers happy and lowering overall cost. FireStart helps standardize the insurance claims process and automate approval loops, shortening overall cycle times and helping companies avoid litigation. Employees can now spend more time on customer experience and high-level approvals, rather than the various manual tasks that can cloud the claims process. Maintaining a digital trail assists in reducing the risk of fraud, allowing companies to detect possible threats before they become a risk. Payouts can be approved in just a few clicks, alleviating pressure on the finance department.
FireStart integrates easily into existing IT infrastructure, meaning that both processes and third-party applications can be managed all in one space. Reduce pressure on insurance personnel, deliver payouts on time, and avoid serious litigation by managing and automating the insurance claims process with FireStart.