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Claims Processing Services for Insurers

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Cutthroat competition and high regulation is squeezing bottom-lines of insurance companies. Moreover, if the claims processing is slow and document management is not seamless, the profits can dwindle further. One way to offset these impediments is to modernize claims processing and document management by collaborating with companies having deep domain expertise in these areas. HCL shows how this can be achieved.

Veröffentlicht in: Business
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Claims Processing Services for Insurers

  1. 1. Facilitating Seamless Claims Processing How Claims Processing and Document Management Can Be Made Swifter By Abandoning Legacy Systems
  2. 2. Client One of the highly rated auto Mutual Insurers of the US Area of engagement with HCL Claims Processing Workflow & Document Management Background The client had large number of documents type and it was using a legacy system for claim management. So they wanted to improve the whole claims processing workflow.
  3. 3. Business Challenge: The auto insurer wanted to replace the Solcom environment with Onbase and a single enterprise - wide content management solution. Depth of Experience – Experience in both Personal & Commercial lines Talent Pool – Consultants with deep domain experience & a strong delivery arm with insurance industry expertise Harnessing the Value of Innovations – HCL’s repository of innovations encompasses Process Capability, Industry Leading Claims Business Processes across various LOBs, Analytics & mobile solutions and accelerators for data migration, legacy application decommissioning - All facilitating controlled delivery of solution with economic efficient and effective cost benefits Partnerships – A strong partner ecosystem that brings the best of breed solutions
  4. 4. HCL Solution: 1. OnBase was chosen over the other Document Management Related products with its ability to support easy Image Storing, Retrieval and Workflows capabilities 2. The project was handled under the program Document Management and Imaging (DMI) 3. Over 35 million images were moved from old Optical Platters to OnBase through DIP (Digital Image processing) after conversion 4. Existing workflows like Workers Compensation Bills Processing were replicated by OnBase Existing Annotations on SolCom were exported to OnBase 5. HCL captured all the integration points with Claim Center (General Claims) after an Engineering Study
  5. 5. Business Benefits 1. The Document Types were narrowed to 12 from over 150 for General Claims and to 60 for Worker’s Compensation from Over 500+ 2. Digitized Claims Mail Management for General Claims 3. Conversion costs were reduced as more documents were added to the system 4. Minimized outages and downtime due to hardware failures
  6. 6. Questions Do legacy systems slow down claims processing and document management? How efficient claims processing and document management helps insurers increase profitability? Why is it necessary to keep number of documents minimum for efficient claims management? How to choose right partner for outsourcing claims processing and document management? What are the benefits of outsourcing claims management?
  7. 7. Copyright © 2014 HCL Technologies Limited 7 | www.hcltech.com