OnBase insurance claims management software expedites claims processing.
Claims processing presents complexities and added overhead to every insurance company in the market. With loss adjustment expense (LAE) continuing to rise, claims costs continue to be a black hole for insurers. OnBase claims management software can help alleviate some claims processing challenges.
Time to decision has a direct correlation to claims leakage and increased costs, impacting reserves. Insurers must evaluate new and innovative approaches to claims handling. Improving transactional processing is at a critical stage, and resisting the use of work management technology in its claims divisions is no longer an option for insurers.
Document creation: Allows for the automated or ad hoc generation of correspondence requiring specific legal wording or criteria-based generation.
Pending task-related actions: Manage these directly in OnBase with automated notifications built into the workflow to manage follow-up requests and diary alerts.
Work distribution: Easily managed by authority levels, skill sets, type of claim or other business rules.
Approval requirements: Managed throughout the process to ensure that internal controls are maintained.
Automated tasks: Automate manual repetitive tasks, freeing up adjusters to focus on high value work.