…how to automate requests and processing to meet customer expectations?
Consumer demands have entirely shifted in the last decade.
What once was a “nice to have” for companies, is now the expectation.
This is also true when talking about what customers expect when dealing with companies they do business with. Especially how simple or difficult it is to get back to these companies and how their claims/requests are managed by claim administrators.
This article is focused on insurance claims as found in the insurance industry, however, the information found here is valid no matter the nature of your claims and requests.
» Here’s how to improve your customer satisfaction with frictionless, speedy and timely claims management!
How do customers want their claims to be handled?
Much like online shopping, when it comes to claims consumers expect seamless, omni-channel, real-time interactions that easily integrate with cloud based platforms they already use.
Time delays in the case management process are a big source of dissatisfaction.
Therefore it’s in the company’s best interest to have all relevant information to process the claim quickly.
All these customer expectations bring the stakes higher. Now reducing claim handling time is a top priority for adjusters.
Explore how to use Dynamic Forms to automate Customer Requests !
How are claims being managed in 2021?
Not every state has time limits for processing insurance claims. However, according to insurance.com, most insurance companies complete the claim processing within 30 days depending on the specific claim.
For instance, personal injury claims such as workers compensation, may take longer than a property damage one; as person’s health and dealing with hospitals is involved.
Fact: it was estimated that in 2021, 68% of all complaints involved claims management issues, such as low settlement offers, delays during the resolution process and outright denial.
This comes as no surprise as so many companies are still processing requests manually. Which often results in costly processes, long timelines and damaged customer relationships as consumers have trouble trusting companies who don’t seem to value their time.
In fact, studies have revealed that:
This new emphasis on a positive customer experience and streamlined processing is why more and more companies are shifting to digital management systems.
This is where digitization and automation of claims management processes enters the equation.
Can the claims management process be automated?
Yes, it can!
Claims processing can be easily automated through claims management software or simply by using a process automation tool to streamline the full process.
How to automate your claim management process
Automate your full process in minutes!
The role of a Client Portal
A client portal is an electronic getaway that serves as a hub where exchanges between the company and clients happen. Usually web based and accessible from any location.
It facilitates the submission and request of information, storage and tracking of client related activity as well as claim document management.
On the customer side, it serves as a platform where he/she can effortlessly communicate with the company and track request status.
Creating or designing your own client portal can give you the flexibility that custom processes offer. (You can add the rules and conditions that apply to your particular processes)
Learn how to create your Client Portal without coding
Which are the benefits of automating the process?
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- Less work to do
- Improved transparency and collaboration
- Speedier process (reduced claim processings)
- Higher and real-time traceability
- Real time access to customer data
- Real time access to claim management status
- Digital experience for both customer and employees
- Speedier and simpler claim reporting
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All this leading to higher operational efficiency and reducing costs.
Tips to improve your Claims Management
Many are the things you could possibly do. However we could sum them all up in these 3 key points.
⇒ Simplify the process
Make sure you add only necessary steps.
Eliminate back and forth, redundancies and establish a clear workflow for each type of claim. Evaluate periodically to understand where there is still room for improvement in your administration system.
⇒ Digitize your Workflows
Provide a fully digital self-service experience
This will also guarantee you that the same process is followed each time and that you don’t need to invest time on data entry.
Invest in software solution to digitize requests, automate routing and assignment so to allow simultaneous work and offer customers the possibility to track them real-time.
Make sure the management solution you choose, automatically classifies and stores data while giving you a 360º view of every request.
⇒ Automate tasks
Make sure you automate every possible task
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- Claims assignment
- Requests for information
- Status updates
- Form generation
- Verifications
- Evaluation of claim risk
- Claim adjudication
TIME is key in the way customers perceive how you manage their requests. So make sure you have a speedy, frictionless and streamlined process in place.
