Must-have Features of an Effective Claims Management System

Insurance CIO Outlook | Thursday, April 07, 2022

Here are five features that a claims management system should have to improve your company’s performance. 

FREMONT, CA: Claims are a vital part of the insurance sector. Even if your insurance firm isn't as large as Axa or Allianz, you need to have an effective claims management system. The client's thinking and aspirations are different from what they were ten years ago. A recent survey named Insurance 2020: The Digital Prize-taking consumer relations to a new stage have brought to light some interesting facts:

Seventy-one percent of customers did online research before purchasing an insurance policy.

Sixty-eight percent of respondents were willing to download and use the application from their insurer to access services.

Fifty percent conveyed their willingness to include additional personal and lifestyle information to get the best deal for insurance services.

As a result, insurance needs to step rapidly to become more customer-centric and to boost customer service. Your clients and team members need to have access to an intuitive claims management framework for effective communication. In this article, we would like to highlight some of the features that would be appreciated by both your customers and your employees.

Features of a claims management system that attracts new customers:

Easy Submission Process

Users need to have the possibility to complete a short and simple form using their smartphone or tablet. Necessary information of applicants, such as first name and last name (and other contact information), should be entered automatically when the customer chooses to make a claim. This should be easy to do because the information is already in the carrier's database. Besides, the claims process would be more straightforward if consumers understand how to connect images of receipts or invoices to their claims.

Tracking Claims Progress

Claimants need to be able to monitor the consultants' status and decision regarding their claim, the further steps they need to take, and the final outcome.

All documents are with customers

 When the consumer uses their insurer's app, they need to store their documentation on their application, such as copies of their ID, driving license, and other insurance papers.

Online Claims Payment

Customers will save a lot of time when claims transactions are made online. It also clarifies the process since both the customer and the consultant have access to the claim's final decision.

Simplicity and security

You can log in with a PIN code that is easy to remember for quick and easy access. Any details entered on claims must not be lost until it has been submitted. At the same time, all sensitive data must be protected by encryption. It is also helpful if most of your app features are available even if the user is offline.

See Also :- Top CEM Solution Companies


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