Claims Processing (for Insurance)
Claims Processing Solutions helps Life insurers properly adjudicate claims
When original policy information is hard to find, processing a death claim can become difficult for Life Insurers. To properly adjudicate a claim, examiners must have access to all of the information pertaining to the incident.
OnBase improves claims processing by storing information in one central location and utilizing business process management tools (OnBase Workflow) to automate tasks like verifying coverage and tracking missing or required information. Because OnBase integrates with Claims Handling Systems, such as LifePro, as well as home grown AS400 Mainframe systems, examiners access documents and data from within one single interface.
For more complex claims product lines, such as short and long-term disability, cancer, accident and so on, the OnBase Case Management Solution allows insurer to dynamically interact with the claims process, handling even non-linear aspects of claims processing. Insurers create tasks on the fly, monitor items that are “Not in Good Order”, and access pend/diary items that need further review.
Insurers who use the OnBase Case Management solution are able to reduce costs, improve time to decision and reduce claims leakage. OnBase Insurance customers that have deployed the OnBase Workflow and OnBase Case Management solutions have found that, in many cases, automating just one step saved 30 minutes of work in claims. OnBase customers who manage the First Notice of Loss (FNOL) process in OnBase have experienced staggering results, resolving new claims that previously took days within 24 hours.