https://store-images.s-microsoft.com/image/apps.13068.d97a4ef9-d2f4-46b3-97a8-462af33b0d7b.9d15cac2-f476-4afb-9b75-db796745abd0.aef8f4fa-a9a2-4b5e-94ac-d3c848f4a211
Insurance Claims Process Optimisation
Charles Taylor InsureTech Limited
Insurance Claims Process Optimisation
Charles Taylor InsureTech Limited
Insurance Claims Process Optimisation
Charles Taylor InsureTech Limited
London Market Claims Solution
Insurance claims process optimisation
We provide a fast and efficient insurance claim process backed by strong fraud prevention, unlocking success for every insurer.
Speed and efficiency
Providing a fast and efficient insurance claim process backed by strong fraud prevention is critical to success for every insurer. While customer experience depends on how quickly and smoothly a claim is resolved, speed must never increase the risk of fraud – particularly as fraud already costs insurers huge sums every year and fraudsters are becoming more adept at exploiting weaknesses. That’s why ideal insurance claims processes must combine speed and efficiency with ever-tighter security.
Automation
At Charles Taylor, we achieve this goal through an automated end-to-end insurance claims process that ensures superior performance and optimisation across the full claims lifecycle. Notification of loss, triage and handling, verification and fraud management, and settlement can be optimised on a single SaaS platform that draws on the best digital technology available.
Insurers can manage all types of claims on the same platform, both bureau and non-bureau, decrease loss ratios and fast-track genuine claims. As a result, they will reduce the average time to pay customers and ensure that the insurance claims process is a competitive differentiator.
Fraud prevention
Combating fraud is a strong component of optimising the insurance claims process. It validates and fast-tracks genuine claims while rooting out fraudulent claims that would damage the bottom line. We use artificial intelligence and machine learning to identify fraud and continually refine fraud detection.
We can also connect to external data sources to gather additional insights to increase protection. Collectively, this is a powerful defence that can strengthen underwriting strategies and help to avoid future fraud.
Key benefits include:
• Predictive algorithms
• Cognitive analysis of claims documents
• Configurable decision model
• Historical claims analysis
• Claims rules engine
• Automatic damage detection
• Dashboards
• Relationship analysis
• Case management
• Analysis of external data
Optimisation in action
The benefits of our claims solution include:
Customer satisfaction and retention
Customer experience is improved because genuine claims can be quickly identified, speeding up the insurance claims process.
Streamlining and cost control
Automation replaces manual processing and improves straight-through processing, reducing admin time and the cost of claims handling.
Better business decisions
Analytics and business intelligence lead to more informed business decisions.
Transparent and compliant
Compliance and responsiveness to regulatory changes are strengthened.
Strong fraud prevention
Combining optimisation with fraud prevention (see below) minimises claims leakage.
https://store-images.s-microsoft.com/image/apps.12768.d97a4ef9-d2f4-46b3-97a8-462af33b0d7b.9d15cac2-f476-4afb-9b75-db796745abd0.f2e781f9-251e-49d1-be59-dd1a6ae79a17
https://store-images.s-microsoft.com/image/apps.12768.d97a4ef9-d2f4-46b3-97a8-462af33b0d7b.9d15cac2-f476-4afb-9b75-db796745abd0.f2e781f9-251e-49d1-be59-dd1a6ae79a17