Claims Pre-Processing Automation System
STRATEGY, MARKETING, CONSULTING
In today’s competitive insurance market, it’s a real challenge to cut costs, reduce frauds and keep your customers happy.
Real Challenges
In today’s competitive insurance market, it’s a real challenge to cut costs, reduce frauds and keep your customers happy. The administrative details and paperwork need to be sorted and kept in order to maintain customer relationships. Manually handling faxed claims of varied types and formats of 3 to 700 pages each, isn’t easy. Along with that, the creation of an inquiry ERP system is laborious, time-consuming and prone to human error. In such dynamic market conditions, organizations are looking for improved claims processes. The insurance companies need an effective claims management system that would help them retain market share and increase profitability.
CHALLENGES FACED BY INSURANCE COMPANIES
Accelerate & simplify.
To streamline the claims process, which will help in customer acquisition and retention and, in turn, reduce the cycle time and enable the staff to be engaged in other productive activities, QuickElf team has helped multiple clients to accelerate and simplify the process. From process steps identification to Claims Automation Process, Quickelf performed the automation with several components.
Tools
Quickelf team has the experience on several tools such UiPath for RPA, Tesseract for OCR (Optical Character Recognition).
Efficient Solutions
We adopt industry best practices, comply to regulatory framework and successfully automated the claims process and extracted and classified the data from the claims PDF documents.
Productive Space Design
Data extraction & information storage in the ERP system.
With user-friendly and powerful functions and featured components for effective data capture, authorization and approval - the automation software seamlessly worked to make pre-processing of Claims Management accurate, efficient and more productive. Our claims pre-processing software automation covers automobile, liability, property and P&C insurance claims.
With our experience, pre-processing automation has shown that Insurance Companies has benefited in reducing the workload 10x times for humans and made the process faster. We can apply the same approach/solution to other insurance areas like claims intake, claims updates and other related processes.
The automation processing software solution provided by QuickElf had profound workforce orchestration capabilities, such as:
The OCR enabled to digitize claims.
The Machine Learning modules made the software smart for classifying the 3-700 pages of claims via different parameters, like handwriting detection, service type, inquiry type and expiry of the claim.
Why choose us?
Our automation solution has benefited many clients and helped solved their problems. Powered with Machine Learning, Robotics and OCR, the process was simplified.
TURN AROUND TIME
Machine Learning helped deliver accuracy and reduced the turn round time. Earlier ‘Insurance Claims Processing’ would take days, but now ‘claims processing’ takes only a few hours.
INCREASE EFFICIENCY
There was an increase in employee efficiency as manpower was combined with Machine Learning through Intuitive Image Assisted Interface.
INSTANT VALIDATION
Data Validation was automated - The OCR checked the digital signature and validated it against the original. This validation process was instant and automated without human interference.
FASTER PROCESSING
Faster Processing made things better – The incoming claims were recognized immediately and processed instantly. This helped in increasing customer conversion rates for claim application queries.
REDUCED HEADCOUNT
With the help of Robotics and Machine Learning, the company was able to hold off recruiting additional staff.