Claims Case Management Life Insurance Solutions

Claims processing software helps life insurers properly adjudicate claims

With the OnBase claims processing software, claims administrators or examiners manage all aspects of a claim, from early assessment to investigation to settlement. From the onset of the claim through the determination, insurance carriers must complete many tasks – collecting, reviewing and maintaining the supporting documentation to assess the claimant’s coverage, validating statements and negotiating the payment of claims.

The insurance claims processing software allows claims examiners to easily access information, schedule tasks, and create notifications and time-based reminders. The information and content are centrally stored and accessible, and workflows automatically route information, verify coverage, and track missing or required information. OnBase integrates with claims handling systems like LifePro and homegrown AS400 mainframe systems from one interface. For this reason, insurers experience an increase in efficiency across claims operations even during times of higher volume.

Additionally, OnBase claims processing solution seamlessly integrates with financial systems to manage payment schedules, providing better control over the release of funds and providing the ability to track and audit claims-related activities to reduce compliance risks.

How Guarantee Trust Life Uses Claims Management Software

Relying on paper was making things difficult for Guarantee Trust Life (GTL). With hundreds of filing cabinets and delayed processing times, the organization’s leaders decided it was time to move toward a paperless environment, and they selected OnBase Claims Management from Naviant.

With OnBase, the insurer automatically scans documentation as it comes in the door and stores it in a single, central location. Instead of searching through dusty filing cabinets or waiting for couriers to deliver files from storage spaces, the insurer makes information instantly available to 206 users across the enterprise. Further optimizing the claims process, workflow automatically forwards complete and accurate claims packages to keep work moving, while flagging incomplete or inaccurate packages. It also automatically notifies everyone as it does so, keeping stakeholders in the loop. This provides much-needed visibility into the process.

Lesley Hanslope, VP Claims, said: “Our biggest life insurance claims management compliant prior to implementing OnBase was the inability to find files.” With OnBase, the employees have everything they need to keep work moving right at their fingertips. They can serve their clients faster instead of asking them to wait. Also, by decreasing dependency on paper customers save thousands annually on office supplies alone.

Key Benefits of Life Insurance Claims Processing Software

  • Streamlines the claims process by integrating with existing claims handling systems
  • Enhances customer service with information and answers being instantly available
  • Increases productivity by reducing the need to search for information across multiple data sources
  • Ensures tasks are completed in a timely manner with reminders, timers, notifications, and other communications
  • Improves compliance through greater visibility, audit ability and adherence to internal controls
  • Reduces time to decide with immediate access to information