Claims Processing - Automated Claims Processing

INSURANCE

Automated Claims Processing

Faster and fraud-free claims settlement with Newgen Automated Claims Processing, with built in customer self-service.

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Our solution for Claims Settlement process reduces fraud and speeds up claims settlement. It offers powerful and user-friendly functions catering to the complete lifecycle of a claim. Using this solution, you can ensure multi-channel claims registration & centralized processing of claims by providing unified customer view. This results in increased processing efficiency and process standardization.

Further, the solution offers the following components- Data Capture, Settlement Creation, Authorization and Approval Processes, Payment Tracking, Salvage and Recovery Tracking, Legal Matter Processing, Communication Management and Monitoring. These components seamlessly work together to make case processing more efficient, accurate, and productive. This solution covers both Life and P&C insurance claims.

Brochure: Newgen's Solution for Claims Management

A powerful and user-friendly solution catering to the complete life cycle of a claim.

Customer Self Service Tool
Newgen’s solution empowers customers through Self Service portal available through Mobile/Web-enabled claim application. The customer facing tool allows customers to register claims in real-time and check the status of submitted claim

Intelligent Claims Introduction
After auto retrieval of policy information on entry of key indexing fields, the system checks for duplicacy. If the case already exists, the system flags the duplicate entry and prevents duplicate claim processing

Rules Based Algorithms
Newgen’s solution introduces rules driven approach to claims processing that increases accuracy and removes guesswork. The system reviews all cases and decides the route of the Claim as Fast Track or Non-Fast Track based on the in-built comprehensive business rules

Thorough Assessment
The solution also provides for detailed assessment of each Claim by providing the all-inclusive dashboard to the Assessor which captures every minute detail required for the investigation of Claim

Smart Case Routing and Allocation
Newgen’s automated Claims Settlement solution creates automated case routing based on adjudicator’s experience to handle the complexity related with the Case and/or his workload to ensure error free claims processing in the quickest possible time

  • Faster claim settlement through automation of the entire claims cycle
  • Reduced subjectivity and process consistency with exception-based claims processing
  • Improved customer loyalty with faster settlement transparent processes
  • Improved loss ratio due to reduction in the number of fraudulent claims
  • Increased accuracy of claims settlement decisions at each level of processing cycle
  • Automatic creation of required correspondences at any stage of the claims process
  • Tracks and records responses of claimants and notifies customers on claims status
  • Increased collaboration and tracking of claims across various departments
  • Improved quality of adjudication through automation

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Claims Processing - Leading Insurance Company in Cyprus Automates Key Insurance Processes

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