11. Document Management
One could argue that the future is digital.
But as it stands now, insurance companies – and their claims management systems – are
awash with paper documents and manual document-laden tasks. The list is long - including
policy applications, claims forms, insurance contracts, HIPAA forms, and more.
While the recent pandemic laid bare the challenges and pitfalls of working with physical
documentation, it also helped to accelerate the drive to digital. And in the claim's world,
where response time and customer engagement mean the most, more and more insurance
companies are leveraging new digital tools and applications.
Digitally infused document management applications are at the forefront of those efforts. It's
helped reduce claims resolution times from weeks to days and customer turnaround times
from hours to minutes. The effective management and control of documents in the claims
process has increased efficiency, improved productivity, reduced costs, and helped to boost
customer loyalty and retention.
Does the claims system utilize its own document management application?
If not, does the claims system integrate with other third-party document management
systems?
Does the document management system provide simple workflow management,
including document routing and task flow?
Does the document management system offer collaboration tools that help facilitate
workflow between employees?
We realize that document management
systems are not a core component of claims
systems (after all, they assist in several
departments including underwriting and policy
administration). But it is important to note that
a digital document management system can
have huge benefits for the claims experience
and the customer experience.
CLAIMS BUYERS GUIDE | 14
Questions to Ask
