Does the vendor offer analytical tools to support the claims' function?
Does the vendor offer robust dashboard and data visualization capabilities?
Does the vendor offer both standard and customizable reports for data analysis?
Does the vendor offer the capabilities to leverage historical data for its analytics?
Can the vendor's analytics suite analyze the market and identify trends in a timely
manner?
6. Workflow Automation
To eliminate manual tasks, speed up processing, and reduce cycle times – these have been
the timeless and far-reaching goals for every insurance carrier. Only then can companies
increase operational efficiency, improve customer satisfaction, and eliminate unnecessary
costs.
In the traditionally labor-intensive world of claims processing, technology has enabled
organizations to achieve a higher level of output with less manual intervention throughout the
claim's journey. That is why every claim system today should offer a high level of automation
from FNOL through to claims adjudication and settlement.
For instance, a claims system should be able to automate all non-core administrative tasks.
This allows workers to send/schedule emails, create diaries, trigger alerts and notifications,
set reserves and more while adhering to strict requirements and compliance regulations.
Does the claims system enable omni-channel communication (web, mobile, email, text)?
Does the claims system enable data integration from sources, including third-party
applications?
Does the system offer automated rules-based tools that can trigger activities or
workflows when data is entered, or an event occurs?
CLAIMS BUYERS GUIDE | 9
Questions to Ask
Questions to Ask
