Reduce Losses and Expenses with Claims Management
The Informatica solution for claims management supports limited or no-touch claims processing to reduce insurers’ losses and expenses. The solution integrates data from internal and external sources quickly and cost-effectively and improves the overall quality of claims data.
- Reduce loss-incurred ratios by avoiding fraudulent claims, reducing claim leakage, and streamlining customer policy verification
- Lower allocated loss expenses by reducing non-value-added expenses and specialized adjudication, minimizing legal fees, and improving the supply chain function with third-party services
- Decrease unallocated loss expenses by increasing productivity, improving operational efficiency, and reducing unnecessary expenses
- Make better, faster claims processing decisions and increase customer satisfaction
Claims Management Challenges
Largely manual and paper-driven, claims management can be a cumbersome, labor-intensive, and expensive process. Most insurance companies struggle to contain costs and reduce claims loss ratios, loss adjustment expenses, and claims leakage.
At the same time, your insurance company needs to process claims quickly and accurately to keep customers satisfied. Top-quality customer service is a key competitive differentiator.
Claims Management Solution Key Features
-
Accesses all data—regardless of its source or structure—from arcane mainframe systems, as well as from relational databases and applications
-
Converts structured and unstructured data to and from more broadly consumable data formats (e.g., ACORD) to support business-to-business and multiple-enterprise transactions
-
Conducts high-precision, high-performance searches on identity data—and associated product, asset, and financial data—to find matches accurately and quickly, regardless of language, structure, format, location, duplication, omissions, or errors
-
Analyzes and cleanses all data—including customer, product, and financial data—and measures, monitors, tracks, and reports on data quality at multiple points across your company through scorecarding and interactive remediation with the business
-
Integrates massive volumes of real-time transactional and analytical claims data—residing both inside and outside your enterprise
-
Enhances data integration, data quality, and the use of real-time analytics