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DWF 3Sixty Blog

Is Software the Future for Claims Management?

Posted by Elliott Seaton on Mar 30, 2016 12:23:08 PM

 

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The claims management process can be both a complex and lengthy one. There are numerous factors to consider when handling a claim and this information can come from numerous different sources. Claimant evidence, solicitors documentation and site visit reports - just to name a few. 

For organisations dealing with a low number of claims / claims of a simple nature, a tool such as Microsoft Excel will suffice. However this is not always the case. When you're faced with a large number of complicated claims, you have two options:
  1. Outsource to a 3rd Party Claims Administrator
  2. Use claims software to streamline the handling process

If you choose the correct company for outsourcing your claims service it can be an effective way of handling long and complex claims. 

It's no secret that 3Sixty Systems specialise in the latter, claims management software. It will then be no surprise to you that we believe the use of claims software to streamline your own in-house process is the best option.

How will Claims Management Software improve how I already work?

There are numerous ways that claims software will improve your processes such as:

  • Instant reporting & MI
  • Document Management
  • Access to a centralised ‘work base’ from anywhere (if Cloud-hosted)
  • Workflow automation & task management

We’ve spoken to many organisations who are managing their claims using an Excel document or similar database tool. It can take days or even weeks to construct a report as information has to be gathered from all kinds of sources.

Through the use of  claims management software, you will gain a truer insight into the success and efficiency of your claims handling processes. All related documents are stored in the same application, so a lot of time is cut out when trying to source documents from different places.

How much will it cost me?

This all depends on your chosen vendor's pricing model. Some of the more dated suppliers simply offer an 'off-the-shelf' solution, with a fixed licensing cost per user. The disadvantage of this is that the software can't be customized to fit your organisation's specific needs.

Other suppliers will charge you on a modular basis, so that only pay for the modules that you need. The issue with this is that there may be small features within a particular module that you would like, but you have to pay for the full module to access it. 

At 3Sixty Systems, we're a sort of hybrid of the two. We only charge for the development days for the specific functionality you need. For example, it may be a requirement of your business that you have a specific automated task workflow built into the system. It may take us 3 days of development to create this for you, and you will be charged at the agreed daily rate for your project. 

This way, we believe that you, the customer, truly do only pay for what you need.

Can I try it out for free?

You can certainly trial EvoClaim for free. Call 0333 010 7999 to speak to a member of our team. 

Alternatively, request an online demonstration:   Book a Demo

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Topics: Evoclaim, Software, claims