Many life insurance providers have come to the realization in recent years that their operational processes need updating. The claims process has become bogged down with tedious, unnecessarily repetitive work that is being done manually in many instances. These companies are seeking claims management solutions to help identify bottlenecks and streamline the entire system. The right life insurance software can help solve these issues and improve the overall efficiency and effectiveness of business process applications.
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Life Insurance Software from Pegasystems: Bringing Simplicity to Complex Processes
Examiners often find themselves spending countless hours scouring through antiquated systems in search of relevant information pertaining to a specific claim, while striving to adhere to a strict regulatory framework. In many cases, examiners must then manually record that information several different times. This kind of system results in a considerable amount of time wasted on “busy work” and increased instances of human error.
Pega’s life insurance software streamlines and accelerates the claims management process while providing complete visibility into all information relevant to a particular case. We’ve worked with many leading insurance carriers to automate their claims management processes with cutting edge insurance claim software that increases straight-through-processing rates, reduces errors and redundancies, and cuts costs.
Achieving Streamlined Automation with Pega’s Life Insurance Software
Pega life insurance software supports end-to-end automation and optimization of the claims management process:
- Individual cases can be assessed for complexity using our claims management software, and automatically routed to examiners with the most appropriate skill level and experience to handle them. Specialized access to sensitive information can be granted to examiners based on assigned roles within the system. Simpler cases are candidates for straight-through-processing.
- Pega’s customer service solution for life insurers enables service representatives to engage with claimants through any channel, meeting customer needs while also furthering company objectives. Customized forms and communications can be generated automatically throughout any phase of the claims servicing process. Throughout the process, Pega’s life insurance software allows for automated enforcement of rules and guidelines to ensure regulatory compliance and adherence to best practices.
- With Pega, insurance managers have the ability to oversee the entire claims process from start to finish. Individual claims can be found and analyzed at any stage in the cycle, with an abundance of relevant information pertaining to those claims readily available in each file. As a result the entire system runs more smoothly with less miscommunication and errors.
Pega’s life insurance software features all the tools insurers need to bring their policy administration systems up to speed with the changing landscape of today’s insurance market. We also offer solutions for new business generation, including a dynamic insurance product configurator that can power the development of new products and benefits, as well as marketing solutions that help you make the right offers to the right prospects at the right time.