Claims processes are one of the most time-consuming and resource-exhaustive areas for insurance companies. From verifying customers and processing their details, to making payout decisions, releasing customer payments, and recalculating policies, there are complex factors that affect each stage of the claims funnel.
Find out how automation can transform insurance companies, and enable businesses to operate efficiently with streamlined straight-through-processing:
What is Claims Automation?
IA software can automate the claims process, creating a unified, front and back-end system that correlates and enriches data and uses decision-driven automation processes to resolve. Increase efficiency in key areas of the process, allowing you to upskill your valuable workforce to other cognitive or areas of the business which require personal engagement or interactions. By delivering a higher quality service, you can translate your gains into a lower claim cost that benefits customers and your bottom line.
The Benefits of Claims Automation for Insurance
How is automation transforming the insurance industry? By driving efficiency, automation is revolutionising the sector and bringing advantages to the businesses that embrace it. These benefits include:
- Increase efficiency of claims processing
- Deliver a joined-up omnichannel experience
- Reduce operational costs
- Pass savings onto customers
- Pivot skilled operators into high priority tasks
- Prevent manual error
- Identify and reduce fraud
- Faster resolution of claims for customers
- Correlate data to deliver accurate consultations
- Futureproof your business
- Reduce customer churn, giving a stronger profit margin
- Deliver a product and customer service that stands out from competitors
Scaling Growth to the Rest of Your Business
Whilst claims automation can bring a digital evolution to a key role within your insurance business, our IA capabilities can extend far beyond this area. From automating the onboarding of clients and helping bring new products to market, to back-end processes including HR and compliance, Cortex’s capabilities can be scaled to deliver a digital transformation across your enterprise operations.
Get Started With Claims Automation Today
Discover a wealth of opportunity for your organisation with claims processing automation and our IA platform capabilities. To learn more about the end-to-end benefits our software can bring, you can book your free exploration session, where our team can help you start your journey to autonomous operations. Book your free consultation today.