Unlike snowflakes and finger prints, all claims handling processes are not unique. As such it is possible to standardise many of the elements of the claims process by following best practice guidelines. Below is an excerpt from The Actuary magazine discussing this very point. You can read the whole article here.
Is self-insurance something you've always wanted to do but not sure where to start? Or do you self-insure but want to know you are doing the basics right?
Our latest eBook is designed to answer all of your questions.
We recently polled a sample of UK Councils to establish the state of play with their current claims management software and claims processes. The results make for interesting reading….
The cloud has been around for a lot longer than you might think with its heritage actually dating back to the 1960's. Nowadays, it's a term that's bandied about willy-nilly and has entered into our day to day vernacular - it even made the Oxford English Dictionary in June 2012.
Topics: News and Events
It’s well documented that the insurance sector is beleaguered by legacy software systems that inhibit progress and stifle productivity. However, it appears the tide is turning and investment in IT is high up on the agendas of many of the larger players who are already in the process of implementing new policy administration and claims systems.
We recently worked with an organisation which was undergoing a broad range of changes designed to drive efficiencies across all divisions, including the insurance department. As is often the case, the insurance team was small, extremely busy and massively constrained by labour intensive systems and processes.
I recently read an article in the Claims Journal titled, “Comprehensive Claims Management Software Components”. Not the catchiest of titles I’ll admit. Although a little dated now the content is still relevant in 2016 and should be of interest to anyone who is currently on the look out for an insurance claims system.
The more a local authority decides to self-insure, the lower the cost of insurance should be. However, self-insurance requires the availability and management of an insurance fund which is sufficient to meet all likely claims.
If you work in an insurance department that hasn't yet embraced technology, then we feel your pain! We've seen first-hand the issues you face and the frustration caused by manual, paper-based processes and having to re-key data into multiple systems. And let's not forget the joy of extracting management information from a myriad of spreadsheets!
Topics: Insurance Claims Management
Due to the increased need for Housing Associations and Registered Social Landlords to manage risks and claims more effectively, we have launched a version of Evoclaim, our insurance claims management software, specifically for this sector.