Life Insurance Claims Processing
Insurance claim processing software helps life insurer properly adjudicate claims
Hard-to-find original life insurance policy information makes processing a death claim difficult for insurers. To adjudicate a claim properly, examiners must have access to all of the information pertaining to the incident.
Hyland's claims solutions improve life insurance claims processing by storing information in one central location. Then, business-process management tools, like workflow, automate tasks, such as verifying coverage and tracking missing or required information. Because Hyland's content services solutions easily integrate with claims handling systems, as well as homegrown AS400 mainframe systems, examiners access documents and data from within one single interface.
Optimise life insurance claims processing software with case management
For more complex claims product lines, such as short- and long-term disability, cancer, accident and so on, Hyland's case management solutions allow insurers to dynamically interact with the claims process, handling even non-linear aspects of life insurance claims processing. Insurers create tasks on the fly, monitor items that are NIGO (Not in Good Order), and access pend/diary items that need further review.
Dynamic results for Hyland life insurance customers
Insurers who use the case management solution can reduce costs, improve time to decision and reduce claims leakage. A few benefits we’ve seen from our customers:
- Insurance customers that have deployed both workflow and case management have found that, in many cases, automating only one life insurance claims processing step could save up to 30 minutes of work.
- Some customers managing the FNOL (First Notice of Loss) process have resolved new claims within 24 hours – a process that once took days.