Digital. Dynamic. Dependable.
Expedite Claims Processing, from Rule-Based Computation to Fraud Prevention
Optimizing claims by maximizing straight-through processing and streamlining settlement across claim types to elevate customer satisfaction and retention.
“With Newgen’s Claims Management Solution, we achieved a 40% reduction in claims leakage through AI-driven fraud detection, improved TAT for non-early claims by 50%, and accelerated settlement time for living claims by up to 40%.”
VP, Insurance Claims
Learn what Newgen’s AI-powered Claims Automation Solution can do for you
Multichannel Initiation and Claims Handling
Allow customers to initiate claims from multiple channels, including self-service portal, website, and social media using convenient and user-friendly online platform. The solution is capable of handling claims against individual as well as group policies. The various types of claims include death claims, maturity, critical illness, permanent total disability (PTD), temporary total disability (TTD), and involuntary loss of employment.
Intelligent Claims Assessment
Automatically classify claims as “fast track” or “non-fast track” and identify admissible/non-admissible claims with built-in rules. The system can perform product-based calculation rules for reserve, death benefit, disability benefit, critical illness, and final payable, and generate a claim summary sheet. The solution has provisions for Investigation Portals and mobile apps. Leveraging AI/ML algorithms, the system performs comprehensive fraud checks on claims, mitigating risks and financial losses.
Operational Insight and Monitoring
Monitor and measure user efficiency with defined KPIs to address gaps. Ensure transparent and timely life insurance claims processing with escalation matrix and monitoring reports, and effectively track claims processing across departments.
Automated Claim Payout and Settlement
Reduce manual efforts and minimize errors with the help of rule-based payout determination. Claim amount is processed upon confirmation provided by the claimant.
Multichannel Initiation and Claims Handling
Allow customers to initiate claims from multiple channels, including self-service portal, website, and social media using convenient and user-friendly online platform. The solution is capable of handling claims against individual as well as group policies. The various types of claims include death claims, maturity, critical illness, permanent total disability (PTD), temporary total disability (TTD), and involuntary loss of employment.
Intelligent Claims Assessment
Automatically classify claims as “fast track” or “non-fast track” and identify admissible/non-admissible claims with built-in rules. The system can perform product-based calculation rules for reserve, death benefit, disability benefit, critical illness, and final payable, and generate a claim summary sheet. The solution has provisions for Investigation Portals and mobile apps. Leveraging AI/ML algorithms, the system performs comprehensive fraud checks on claims, mitigating risks and financial losses.
Operational Insight and Monitoring
Monitor and measure user efficiency with defined KPIs to address gaps. Ensure transparent and timely life insurance claims processing with escalation matrix and monitoring reports, and effectively track claims processing across departments.
Automated Claim Payout and Settlement
Reduce manual efforts and minimize errors with the help of rule-based payout determination. Claim amount is processed upon confirmation provided by the claimant.
Brands using Newgen Platform
Brands using Newgen Platform
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