Still managing claims in Excel? You’re not alone and it’s costing you.
Learn how integrated policy administration software and claims automation tools cut costs, improve speed, and let your teams focus on strategy, not spreadsheets.
Spreadsheet Syndrome: A Cost We Can’t Keep Paying
“70% of insurance carriers still manage claims in siloed, legacy tools. The result? Up to 30% in avoidable leakage, according to McKinsey.”
That’s not just inefficiency that’s a drag on profitability.
- Manual rekeying of data .
- FNOL that should take minutes, takes hours
- Inconsistent data across underwriting, policy, and claims
Silos don’t scale. And spreadsheets certainly don’t.
Many carriers are moving to cloud-native claims platforms that centralize data, automate intake, and enhance reliability.
The Missing Link Between Policy & Claims
One of the biggest hidden inefficiencies in insurance is the lack of integration between policy data and claims processing. With cloud-native policy administration software, everything changes.
Immediate benefits:
✅ No duplicate data entry
✅ Instant coverage validation at FNOL
✅ Real-time premium recalculations
✅ Cleaner, faster audit trails
As shown in Streamline Your Policy Lifecycle, automation in policy updates ensures consistent data across the policy lifecycle and claims platform.
Automation in Action—From FNOL to Settlement
A modern day in the life of a claims adjuster:
⏰ 8:03 – FNOL triggered automatically via chatbot → claim file created instantly
⏰ 8:06 – Policy validated via API from policy admin software
⏰ 8:15 – Workflow engine assigns adjuster based on type, location, and capacity
⏰ 8:45 – Image recognition suggests reserves
⏰ 10:00 – Customer notified with payment timeline
⏰ 15:30 – Payment processed through digital payment gateway
Claims Automation Tools deliver:
⚙️ Automated task routing
⚙️ Triggered next steps (emails, payments, escalations)
⚙️ Faster fraud detection through AI models
⚙️ Structured data collection for analytics
Read how automation improves operational efficiency and unlocks better outcomes for adjusters and claimants alike.
Also, claims analytics can turn raw data into actionable insights across your entire workflow.
Policy Automation Software: Your Silent Efficiency Engine
With rules-based policy automation software, your policy administration system becomes an active efficiency engine instead of a passive system of record.
Practical examples:
- Mid-term policy changes recalculate premiums automatically
- Compliance checks run in real time
- Endorsements update active claims without manual intervention
The result is improved compliance, faster resolution, and fewer surprises at the worst moments.
Five Measurable Wins in 90 Days
Results from recent Terra client implementations within the first 90 days:
| METRIC | RESULT |
|
Time to Claim Closure |
↓ 25% |
|
Loss Adjustment Expense |
↓ 18% |
|
Policy Amendment Errors |
↓ 40% |
|
Adjuster Touchpoints |
↓ 35% |
|
FNOL to Payment Time |
↓ 60% |
These improvements align with KPIs tracked by leadership, as explored in Metrics That Matter for CEOs and Risk Managers.
Ready to Unify? Zero-Risk Adoption Starts Here
Switching systems can feel daunting but not with Terra.
Our guarantee: “Don’t Pay Until You’re Live.” That means: no upfront costs, integration within 30–60 days and ROI projected before rollout.
Learn more about our risk-free implementation model that ensures zero financial commitment until you’re up and running.
Book a 15-minute discovery call today and see what a unified claims process could do for your margins.
