In about 15 minutes, this guide will examine the issues that make claims processing so problematic.

It will discuss how improving process efficiency through transactional applications based on an Enterprise Content Management (ECM) platform can address those issues. This guide will also provide a conceptual model that can be applied to claims processing and offer deployment guidelines and suggestions.

Introduction
If there is one area that can predict the success or failure of an insurance carrier, it is claims. Claims consume nearly 80 percent of insurance premiums in the form of payments or processing costs. So efficiently managing claims is something about which every insurance executive is justifiably concerned.

Claims is a trifecta of challenges—a three-headed beast. To tame it, insurance companies must:
• Reduce the cost of claims processing and improve fraud prevention and detection to boost profitability
• Streamline the claims process to accelerate claims settlement and increase customer satisfaction and loyalty
• Ensure regulatory compliance to avoid sanctions and penalties

Of course, there are obstacles to achieving these goals—foremost, a thicket of primarily manual, paper-intensive processes that force claims professionals to spend an inordinate amount of time on non-core, low-value activities.

Receive Your Complimentary White Paper NOW!

"15 Minute Guide to Digital Claims Processing"

Offered Free by: EMC

Where to start?
Realistic assessment is the first step in determining a deployment strategy for any technology. Digital claims processing is no exception. During assessment, some insurance carriers may decide to tackle the biggest challenges first. But often it’s more practical to choose a less ambitious goal, one where success is assured—the quick win approach. This helps build consensus for a larger roll out.

For example, intelligent capture and a unified repository are logical starting points for any digital claims solution. These are components that can be deployed for claims processing and leveraged for other business units as well. They do not require “re-engineering” of process models or workflows to deliver value. They also allow for a foundation of best practices, which boosts user adoption.

In either case, solution vendors must be able to offer a range of options based on a common, extensible platform that supports modular deployment. This enables organizations to make informed, cost-effective choices. The EMC Documentum content management platform is a unified, standards-based platform that supports web services and SOA, making it ideal for modular deployment and a gradual expansion across departments and functional business units.

About EMC
EMC Corporation (NYSE: EMC) is the world’s leading developer and provider of information infrastructure technology and solutions that enable organizations of all sizes to transform the way they compete and create value from their information. Information about EMC’s products and services can be found at www.EMC.com.

Take the next step
To learn more about enterprise content management from EMC and how it can serve as a foundation for digital claims processing, visit www.EMC.com or call 800.607.9546 (outside the U.S.: +1.925.600.5802).

Comments (0)

Name

Email

Comment

smaller | bigger

Add Comment