Claims Management Solutions
Insurance carriers are looking toward the future as they seek claims management solutions to help strengthen their value chain and optimize their internal processes. Insurers have ample opportunity to unlock hidden value in the claim cycle as they move towards increased automation of business processes and procedures. Implementing the right claims management software can help them effectively “trim the fat” and reduce leakage by increasing their operational efficiency. Pegasystems’ Better Business Software® offers a variety of customized solutions for insurers searching for anything from claims management solutions to streamlined customer service platforms to commercial insurance software.
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Claims Management Solutions for Property and Casualty Insurers
Pega’s P&C insurance software helps property and casualty insurers process their claims faster and more effectively. Some of the features and benefits of our claims management solutions for P&C include:
- Standardized enforcement of business rules, guidelines, and best practices while providing enhanced fraud protection.
- Ability to fully or partially automate internal claims processes resulting in maximum production from adjusters. Allow your personnel to focus their efforts on the tasks that truly require their attention.
- Increased customer retention with improved policy administration systems that deliver an optimized experience to claimants throughout the claims cycle.
Claims Management Solutions for Life and Annuity Insurers
Pega insurance claim software helps life and annuity insurers reduce costs and execute with consistency. Some of the features and benefits of this platform include:
- Ability to filter simple claims through automated processes while channeling complex claims to adjusters with the appropriate skill levels to handle such accounts.
- Use of adaptive and predictive analytics to determine the most relevant product offerings for individual clients and the best ways to interact with them. As a result customer satisfaction and retention increase.
- Pega’s life insurance software features an advanced search function that greatly reduces the time examiners must spend researching any given claim.
Pega’s Claims Management Solutions in Action
Several of the most successful companies in the insurance marketplace have benefitted from Pega’s claims management solutions.
- Chartis achieved a 30% reduction in claim handling cycle time and a 5% reduction in claim leakage. Using Pega’s claims management solutions they were able to standardize their claims process in over a hundred jurisdictions around the world.
- New York Life is using Pega to automate many operational processes as they build a scalable, customized platform that will help instill best practices and reduce manual inefficiencies throughout their organization.
- Farmers used Pega to enhance their customer experience and improve claims processing by 20%.