Life Insurance Claims Process

Overview

Life Insurance Claims Process automates the entire claims journey, from the initial notice of loss and fraud detection to adjudication and settlement. Adapt to different claim types such as death and maturity claims with ease, enhancing regulatory compliance and avoiding penalties. This software facilitates faster, accurate, and effective processing through features like data capture, payment tracking, salvage and recovery tracking, legal matter processing, and comprehensive monitoring capabilities.

Key Features

• Customer self-service portal, available via mobile and web-enabled application
• Real-time registration of customer claims and status tracking of submitted claims
• Auto-retrieval of policy information upon entry of key indexing fields
• Claims duplicity prevention and flagging of duplicate entries to avoid errors
• Automated case routing based on adjudicator’s workload and experience with handling the case’s level of complexity
• Effective registration, adjudication, tracking, and management of claim submissions
• Seamless tracking and management of claims through a single interface
• Built-in, comprehensive business rules for automatically categorizing claims as “fast track” or “non-fast track”
• Flexibility to add or modify stakeholders— garages, assessors, loss adjusters, surveyors, investigators, claim officers, etc.
• Detailed assessment of each claim by providing an all-inclusive dashboard to the assessor
• Request capabilities for additional details based on dynamic needs
  
• Defined KPIs to monitor and measure the efficiency of the users
• Escalation matrix and monitoring reports for transparent and timely claims processing