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The insurance industry has had to adapt to an unpredictable world, therefore adjusting premiums without making them so expensive that they become unaffordable.   Cybersecurity has proved to be a big issue, even for the so-believed safest companies. Even large companies suffered leaks and cybernetic attacks.   Increasing productivity in an ever-changing work dynamics and market hasRead more

A never-ending stream of claims is daunting. Especially when they involve health insurance or workers’ compensation because the insurer knows there are people behind those claims with timely issues like surgery or urgent treatments. Insurance companies are responsible for data accuracy, reliability, and privacy when meeting client commitments. Claims processing goes through multiple layers ofRead more

Stronger than the Sum of its Parts  One aspect of technology that gets little attention. Technology can upgrade itself, and developers can combine different technologies for better results, that is why APIs (Application Programming Interfaces) are so popular. API’s allow information interchange between applications, thus providing more robust databases and functionality.     Let’s explore how integrationsRead more

Customer Success: The Key to Business Success “It is more expensive to generate a new customer than to keep an existing customer” is common knowledge in business. The principle of retaining customers is the main driving force behind Customer Success: give customers a good experience and you’ll keep their business or generate positive referrals.  Read more

Benchmarking Metrics for PEOs and TPAs The most precious asset across all insurance claims management is time. Time changes everything. The more time passes, the more complex the claim can become, this is particularly true for Commercial Property claims, Workers’ Compensation claims, and Health Insurance claims. Claims are time-sensitive because the nature of the issuesRead more

SaaS (also known as ‘Software as a Service‘) is software accessed through the internet. This means there are no installations involved, full scalability, 24-hour support, and no need for any disk space or top-notch computers.   Software as a Service is typically accessed for a monthly or yearly fee. It’s called Software as a Service because thereRead more

There are a lot of essential aspects of insurance, but few are as important as time. Time determines many things in a claim, even its price. Behind every claim, there’s a person or a business expecting a prompt resolution.   For example, what happens when the claim involves a worker who needs physical therapy? In thisRead more

Many businesses turn to third-party administrators (TPAs) streamline insurance operations. Hiring TPAs is a way to outsource claim processing for more effective results, saving time and money on insurance operations.  Let us discuss how TPA’s enhances insurance operations – but first things first, what does a TPA do?  What is a TPA?  There is no one-size-fits-all TPA for every business, so it is important to understand why a company needs a third-party administrator.   TPA’s process insurance claims and employee benefit plans on behalf of another organization. Third Party Administrators take partRead more

When a patient receives medical treatment and has health insurance, they file a medical claim. A medical claim is the channel through which doctors bill insurance companies. It involves several steps and depending on the insurance company, an automated process, or a manual task. It is in everyone’s interest that the medical claim process goes as fast as possible.  Therefore, in this article, let us study this process in detail and learn five ways to improve medical claim processing.  What is MedicalRead more

 When it comes to claim management, time is a vital thing consideration for efficient claim processing the time it takes to solve a claim affects the outcome, especially considering that the longer it takes to solve a claim, the more it costs.  Therefore, a successful claim processing workflow relies on the effectiveness of gathering claims information, processing it, and reporting it. At the same time, claim reporting is a critical part of the claim management process. There are simpleRead more