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Tuesday, 20 September, 2016

Digitizing claims processes: Optimizing claims management efficiency and quality with intelligent solutions

Fierce competition and high cost pressure, growing customer demands and increasing market transparency – these are the challenges that insurance companies and their service providers are facing these days. At the same time, the damage event is brought into focus more and more. Traditionally, heterogeneous systems and – often paper-based – manual processes turn out to become too complicated and intransparent and thus too time-consuming and costly.

As a leading digitization partner and provider of up-to-date and comprehensive auto parts and price data, Eucon supports insurance companies in the qualified and efficient settlement of claims. Eucon’s solutions are based on the intelligent linking of advanced technologies in the area of digitization, specialized databases and highly qualified services such as the expert check.

Use of new technologies and modern IT systems

Automating and standardizing data and information flows and connecting all parties involved in the damage event bears considerable value creation potential for insurance companies. Digital technologies must be flexibly and seamlessly integrated into existing claims management systems in order to ensure a dynamic development of the claims organization in the long run.

Digital and connected workflows reduce claims and process costs and enable a high degree of cost transparency. The automated check of claims processes based on individual rules and current market data as well as the intelligent management of claims documents help insurance companies increase their processing efficiency and service quality considerably.

Gaining transparency through intelligent check processes and uncovering savings potential

Be it a letter, an e-mail, a fax or already structured data, such as data transferred by the German Insurance Association GDV: Eucon gathers all the information and converts it into a structured format. Eucon’s specialized data extraction brings it all down to one common denominator and lays the foundation for an efficient checking and regulation process. In doing so, all documents are digitized and put at the insurance companies’ disposal for further processing.

Automated processes require less personnel expenditure and deliver flawless results. Practice-approved rule sets and comprehensive databases and specifications enable a qualified check of all claims documents according to insurance-specific parameters.

Comprehensive tools for digitized process handling

The standardized technical checking of quotes, expert reports and invoices and their smooth integration into existing insurance processes are key to efficient claims settling. The automated checking and analysis of processes based on individual rule sets as well as a results-based process management allow for a significant reduction of workload and cost.

We use our experience, thoroughness and high analytical skills to check claims documents for plausibility, causality and correct calculation principles. The expert desk is a tailored solution for the customer when it comes to the integration into the automotive claims settlement process. Automated processes support assessors with the help of a data-based rule check. In addition, Eucon offers a complete platform for the communication with associated workshops.

Data as key drivers in decision-making

High-quality check results allow the insurance staff to settle claims quickly. This leads to faster processing times per damage and a reduction of process costs. Significant indicators allow for a consistent expenditure analysis of claims and an efficient process control. Thanks to direct claims settlement, claims are rapidly closed and customer satisfaction is improved.

Following the processing, all analyzed results are available in the form of assessments, enabling insurance companies to immediately see where and how the expenditure for claims is impacted and to identify the driving force behind these changes. The insurance consulting department is there to assist clients with market or individual studies for more in-depth analyses.