How to improve your insurance claims process

How to Improve Your Insurance Claims ProcessThe Intersection of People, Customers, and Technology in the Claims Process

2

The Intersection of People, Customers, and

Technology in the Claims Process

Opportunity for insurance carriers to secure their future

• Engaging and communicating with customer base

• Workforce talent management

• Streamlined Operations

• Fraud prevention

• Business growth

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Are These Your Challenges?

Workforce

Talent

Problem

Reduce

Fraud

Engaging

with

Customer

Base

Streamlined

Operations

Business

Growth

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Grow your Business and Customer Satisfaction

1. Digitize Paper Documents

2. Recognize Data

3. Integrate Multi-Channel Communication

4. Classify Documents

5. Extract Data

6. Enable Customer Interaction

7. Automatically Initiate Business Transactions

8. Automate Business Processes with Insight

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Step 1: Digitize Paper Documents at Point of Entry

2. Recognize Data

3. Integrate Multi-Source Capture


5. Extract Data


7. Automate Claims Workflow

8. Enable Fraud Detection

XYZ Insurance


6

Step 2 – Data Recognition




5. Extract Data




2. Recognize Data

XYZ Insurance

INSURED:

1234567890

NO

INSURED

ILYA

DAMAGE

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Step 3: Integrate Multi Channel Communication


2. Recognize Data


5. Extract Data





8

Invoice

Complaint

Account Change

Claim


2. Recognize Data


5. Extract Data





Step 4: Document Classification

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Step 5: Data Extraction


2. Recognize Data






5. Extract Data

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Step 5: Data Extraction - Classification


2. Recognize Data






5. Extract Data

Linguistically

Rule Based If color is red thenclass is tomato

Graphically

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Step 6: Enable Customer Interaction


2. Recognize Data



5. Extract Data


8. Automate Business Processes with Insight


12

Step 7: Automatically Initiate Business Transactions


2. Recognize Data



5. Extract Data



7. Automatically Initiate Business Transactions

13

Step 8: Enable Fraud Detection and Prevention


2. Recognize Data



5. Extract Data



8. Enable Fraud Detection and Prevention

Advanced data

mining Mobile Devices

Segment Risk

Predictive Modeling

Pattern

Spotting Self Learning

Hard FraudCross Provider

Security

Mechanism

14

Artificial Intelligence Opens New Opportunities

UNDERSTAND PROCESS KNOW

?i

!

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The Intersection of People, Customers, and Technology

in the Claims Process

Presents significant opportunities for insurance carriers to secure their future

• Engaging and communicating with customer base: Support policy holder

communication preferences and fully integrate all communication

channels including social media

• Workforce talent management: Leverages the expertise of most

experienced agents and offer a comprehensive, self learning knowledge

base to new staff

• Streamlined Operations: Reduce manual steps and silos into end-to-end

claims process automation

• Fraud prevention: Focused data mining and analytics

• Business growth: Reduce cost and create additional revenue

Questions?

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