Ventiv Technology

The Essential Guide to Claims Technology in a Changing Environment 4 PRIORITY 1: Adjusting for less experience, higher caseloads While technology is rapidly reshaping the industry, one of the biggest concerns faced by claim organizations is managing a changing workforce. With constant pressure to improve profits and reduce costs, claim organizations are looking for savings by hiring less-experienced adjusters. This trend results in adjusters with less industry knowledge, less long- term commitment, and limited experience in the use of existing tools. Companies need to ensure new hires are capable of handling claims with as little disruption as possible. If not properly mitigated, employee changes can cause a major disconnect in the efficiency and quality of a claims operation. There are challenges even for an organization's experienced adjusters. Not too long ago, the typical caseload for an adjuster was around 65 to 80 open claims. Now, it's common for an adjuster to have 125 to 150 open claims in their caseload. So, the question for claim organizations is, How can they maximize efficiency, reduce costs, and improve output? The answer lies in smart technology like robotic process automation (RPA), which is described on the next page. Technology that automates processes and workflows can help bridge the gap in experience as well as increasing workflows: • For less-experienced adjusters, claims-administration systems cut down on time required for employees to acclimate to procedures, increase consistency in which claims practices are utilized, meet compliance, and ensure a smooth transition from one claims handler to the next. • For an organization's more- experienced adjusters, capabilities like workflow and document automation are critical to handling an increased caseload. C H A P T E R 1 : A C C O M M O D AT I N G T H E P R I O R I T I E S O F T O D AY ' S C L A I M S O R G A N I Z AT I O N S Technology Today for the Needs of Tomorrow Current technology, such as Ventiv Claims, has been designed to not only meet the needs of claims processing today but create a fluid environment, allowing organizations to remain proactive in an ever-changing industry. Technology can help companies simplify operations while improving output, maintaining quality, and building a sustainable framework for the future. PRIORITY 2: Ease of Use Claim administrators need software that is easy to learn, intuitive to use, and effective in end-results. New adjusters are entering the workforce, and while lacking experience, are much more technologically inclined than previous generations. Modern software can, therefore, be adopted quickly, resulting in minimal training without compromising claim accuracy or efficiency. Ventiv Claims, for example, is designed specifically to deliver a logical workflow through an updated and configurable interface that allows access to claims through multiple browsers, operating systems, and devices (mobile, tablet, and desktop). An integrated drag-and- drop dashboard consolidates data into one location to enable a new level of customization designed to meet each client's specific needs.

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