Since a major factor in claims management is the time spent settling a claim, saving time in repetitive and monotonous processes is golden. In that regard, technology empowers insurers to improve their processes. By digitizing every aspect of the company, data can be centralized, creating a unique communication channel for inside teams and outside customers.Read more
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How Claims Management Metrics Help you improve your process Insurance claims analytics refers to the process of analyzing insurance claims data to uncover hidden patterns, insights, and opportunities. By using advanced analytics tools and techniques, brokers and companies can gain a better understanding of their claims data and use that information to make data-driven decisionsRead more
Knowledge is power in Insurance Claims Management. In other words information, is the most valuable asset for any company. Losing data whether temporarily or permanently, can be anything from a headache to a lawsuit. Cloud Technology is an extensive and powerful answer that provides security information especially for sensitive data. For InsurTech, cloud technology isRead 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
What is a Professional Employer Organization? A professional employer organization (PEO) focuses on Human Resources (HR) responsibilities. Payroll, benefits, legal, and taxes are a few things PEOs can help with. A PEO also helps companies through different processes. For example, consider hiring and compensating international employees. PEOs help the hiring company and employees stay inRead more
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