Insurance Claims Management System

Reduce claims leakage and drive better customer experience

Claims are at the heart of customer experience in the insurance industry, but many claims managers still use legacy processes and systems that are labor-intensive and time-consuming.

We offer claims management software solutions that drive a unified, omnichannel claims experience. Maximize the efficiency of your claims processes while improving the claims experience for everyone: claimants, agents, and adjusters.

Robust Claims Management Features

The Nuxeo Platform offers robust claims management capabilities with a full range of traditional features, including:

• Ingestion
• Classification
Search
• Browse
View
• Check-in/out
• Lock
• Document editing
• Version control
• Audit

Implement Straight Through Claims Processing (STP)

Today’s insurance consumers consistently complain about the lack of communication and transparency into the claims process, which is largely relying on the intuitive knowledge of experienced claim handlers.

With pressure to increase profitability, higher customer experience expectations, and a talent crisis at hand, STP is the only scalable way to accelerate the end-to-end process without sacrificing customer satisfaction.

What is straight through claims processing?

STP optimizes the entire insurance process, simplifying the process for insurers and speeds up customers’ results. Automating the traditionally tedious claims review and approval process, transforms the insurer’s business, and delights customers.

What are the benefits of straight through claims processing?

Reduced Costs & Increased Profitability

By reducing or eliminating human touchpoints, insurers can reduce overall costs and manual errors while focusing those resources on more complex claims.

Exceeding Customer Experience Expectations

Today’s consumers expect claim settlement times and communications with their insurers to be fast, personal, and accurate.

Institutionalized Business Knowledge

Operationalize decades of personal experience and build on it with business rules and artificial intelligence-based algorithms.

↗30%

McKinsey estimates that insurers who successfully implement digital self-service options, STP, and lower call volume can reap efficiency gains of 30%.

More about straight through processing

Utilize Virtual Claims Handling

According to LexisNexis, 38% of insurers now utilize virtual claims handling, reducing cycle times to two to three days, compared to 10 to 15 days for traditional methods.

What is virtual claims handling?

Virtual claims handling transforms the traditional process by replacing the forms, phone calls, and adjuster assessments with information collected online from customers, local police departments, and business systems. By collecting damage information from customer-submitted photos and video, police accident reports, and body shop estimates, insurers streamline the claims process and greatly reduce the need for on-site inspections.

What are the benefits of virtual claims handling?

Decreased Claims Cycle Times

Remove the repair shop as the sole source for estimating damage and repair costs – which often leads to conflicts and settlement delays.

Decreased Loss Adjustment Expenses

Replace the slow and subjective nature of human-based estimating with consistent outcomes based on comparisons of thousands of images of similar damages.

Seamless Customer Experiences

Provide more accurate estimates, fewer touchpoints, and lower cost for the insurer while delivering faster settlements and a superior claims experience to the insured.

Reduction of claims cycle times by
↘80%
Reduction of touchpoints by
↘50%
Reduce Claims Leakage

Reduce Claims Leakage

Controlling claims leakage is difficult because insurers must decide between the time and cost of thoroughly investigating a claim vs. the impact to customer satisfaction and retention resulting from a protracted claim settlement experience.

Claims leakage accounts for an estimated 5 to 10% of all claims paid, and in the life insurance sector, that number can be as high as 25%!

What causes claims leakage?

People

Human error, an over-reliance on manual processes, and insufficient training

Process

Inefficient review processes, failure to perform and document investigation results, and lack of real-time claims monitoring

Technology

Legacy and disparate, siloed systems, poor data quality, and ineffective use of analysis tools

We help insurers proactively address the early warning signs of claims leakage with automation, artificial intelligence and machine learning. In the US alone, claims leakage is a problem in excess of $30B per annum. You could save billions of dollars!

Learn more about claims leakage

What makes us different

Nuxeo Platform isn’t like any other claims information management solution in the marketplace. Instead of straitjacketing your business into one way of managing and processing claims, the Nuxeo platform adapts to your needs with unmatched speed, flexibility, and future-readiness.

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Federation

Connect claims documentation from all your systems regardless of format, type, or size, and integrate that content with process automation for seamless processing without error-prone handoffs.

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Artificial Intelligence

Use AI and ML for smart, instant classification and distribution of incoming claims documents. Automatically investigate claims history for quicker, easier fraud detection.

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Low-code

With fast, easy development on the Nuxeo platform, respond faster to regulatory changes, bring new functionality to market faster than ever before, and keep your applications up to date without disrupting operations.

The X Factor

Today’s insurance customers demand seamless, omnichannel experiences – from underwriting to policy administration and claims. But the information needed to optimize these customer interactions and processes is often locked in siloed systems.

It’s time to replace those outdated, inflexible Enterprise Content Management systems and single-use solutions with a modern Content Services Platform. See why some of the largest insurance companies have chosen to work with us.

Content Management Solutions for Insurance Companies

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