Weather experts are predicting a cold winter ahead, however claims management companies (CMCs) will already be feeling the chill following the payment protection insurance (PPI) deadline. The bonanza peaked in August with a huge surge [...]
You’ve made the decision to self-administer some or all of your insurance claims and now you need to decide on which claims administration software best meets your needs. But where do you start? Who [...]
The decision to self-administer claims should not be made lightly nor quickly by any organization. Claims self-administration requires taking full control of the claims handling function in-house versus leveraging the stability and expertise of a [...]
The insurance industry uses data analytics to support its critical business decisions –i.e. whether to provide an organization coverage, what types of coverage to underwrite, and what level of premiums to set. All of [...]
Your claims administration software contract has been finalized and signed. Now what? How do you go from looking at claims administration software vendors for the past six months to actually using claims administration software in [...]
Incorrectly coded claims, paper forms, missing claim information, and physically walking files over to another department all add time and effort to the claims process. What’s not added is value. A few seconds here, a [...]
Modern claims administration software is designed to move every claim through the system with maximum efficiency to resolve even the most complex claims quickly, easily, consistently, and fairly. The latest software platforms support the entire [...]
Thinking about committing insurance fraud? The consequences could make life difficult as the latest campaign from Cifas, the cross-sector fraud data-sharing organization, outlines. In recent years, organized crime activity has attracted more attention, in particular [...]
It’s an exciting time within the insurance sector at the moment, as artificial intelligence is increasingly making its presence felt. However, there are still, some challenges ahead in terms of how insurers look to utilize [...]
Claims generate an abundance of data. But numbers alone are just, well, numbers. You have to figure out what it means – and put it to good use. Artificial intelligence combined with big data can [...]
Claims are a big-ticket item that often ends up in the crosshairs when the C-suite goes looking for a place to cut costs. But simply slashing costs can backfire if customer service suffers. (Thanks [...]
The clock is ticking for claims management companies, with the Financial Conduct Authority poised to take over regulation of the sector – around 1,700 firms – on 1 April 2019. A new regime is coming [...]
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