5 areas essential to a modern claims processing environment

One could characterize the claims processing technology landscape as having the luxury of a wide range of solutions. The most important consideration, however, is the ability of these solutions to interoperate with each other.

Core claims administration systems manage and record the primary transaction activity throughout the claims handling process. But specialized solutions to support damage estimation for each line of business are vital for adjusters (including systems for property, auto, casualty, and other lines).

Key functional areas such as claims, legal, fraud units, payments and recovery (subrogation, salvage) tend to have their own purpose-built solutions as well.

Throughout these systems, there is a need to exchange data and orchestrate workflows. The claims admin system is a central source for capturing, recording and managing the structured transaction data, yet the entire claims ecosystem generates an enormous volume and variety of unstructured data to support the various capabilities and systems across the claims lifecycle.

How can insurers best manage and deliver all of this digital content?
Through a content services platform that provides unified solutions that address five areas that are essential to a modern claims environment.

5 essential areas

Let’s take a look at these areas in detail.

1. Digital content capture
A variety of digital content is required throughout the claims process. This may consist of recorded statements of witnesses, digital pictures, live video of damage, e-mail communications, document images (loss reports, police reports), aerial imagery of a property before and after a claim and more.

Foremost, insurers must be able to capture data in these formats, index or catalog the data and incorporate it into the workflow when required.

2. Digital content creation
Claims departments must develop a variety of communications, including formal correspondence and statements, as well as more informal interactions with claimants and partners.

In an era where great customer experience is a top priority, insurers must be able to create digital content that is not only efficient but also accurate, timely, personalized and in compliance with regulations. That’s why a solution that empowers you to develop consistent templates and customized correspondence/communications is essential. It saves time and increases productivity.

3. Workflow and intelligent automation
Workflow orchestration capabilities must be central to your platform and its solutions. These capabilities are the “glue” that enables the management of an integrated transactional workflow – to improve adjuster productivity and enhance the policyholder/claimant experience.

Intelligent automation is also vital for today’s systems, along with case management to facilitate the design and implementation of processes and the supporting workflow technologies.

4. Digital content management
Behind-the-scenes machinery for the management of digital content is a significant component of a robust content services platform. This includes capabilities to efficiently store and retrieve digital content, manage retention, provide high levels of security, produce audit trails when necessary and more.

5. Output/delivery
Customer expectations in the digital era require insurers to be flexible with the delivery of correspondence and communications to external parties involved in claims (claimants, policyholders, agents and partners). Some individuals prefer a printed document, while others want a text message, e-mail or delivery to a secure website.
This means you must position the digital content you create for delivery through both physical and digital channels. You also must consider regulatory mandates, as they govern the delivery requirements for certain claims.

A comprehensive platform

Many solutions in the marketplace cover one or more of these five areas. However, the features that make a comprehensive platform appealing are the common user interface, APIs to facilitate integration and data exchange, a common repository for digital content and a unified way to manage and access digital content.

Want to learn more? Check out “P&C Claims and digital content services: The transformation of P&C claims.”

One can picture a comprehensive platform as a central hub distributing these services to each of the many systems that provide functional capabilities to claims professionals. As P&C claims continues to expand, leveraging new technologies and capitalizing on an evolving ecosystem of partners, a digital content services platform is mandatory for any insurer seeking to remain competitive.

Mark Breading is a partner at Strategy Meets Action. Mark is a recognized expert in advanced technologies and their implications for the insurance industry. He has exceptional knowledge of the customer experience, analytics, digital content management, and maturing and emerging technologies. You can follow him at @BreadingSMA on Twitter.
Mark Breading

Mark Breading

Mark Breading is a partner at Strategy Meets Action. Mark is a recognized expert in advanced technologies and their implications for the insurance industry. He has exceptional knowledge of the... read more about: Mark Breading