The Essential Guide to Claims Technology in a Changing Environment 19
C H A P T E R 7 :
Financials
Claim organizations tread a fine line financially,
particularly when it comes to estimating claim costs
and payment processing. These organizations need
reliable claim infrastructure that supports the necessary
tasks of an adjuster and maintains best practices
for the company. From establishing case reserves to
processing indemnity payments, improving efficiency
and reducing operating costs should be a high priority.
With case reserves playing a significant role in a company's
financials, how can claim organizations maintain best
practices for reserving? Can they benefit by moving
away from check payments and towards EFT?
This chapter in 20 seconds…
»Case reserves play a significant role in a
company's financials; giving adjusters access
to accurate data is essential to accurately
setting reserves.
»New technology can help organizations
facilitate more accurate claim reserves with a
focus on efficiency.
»With regard to payments, organizations that
have adopted e-billing practices reporting
substantial gains in efficiency, improved
communication, and lower operating costs.
