Let’s face it, implementing a new technology into existing processes and systems is no easy task. … Navigating the Choppy Waters of Claims Technology ImplementationRead more
Claims Technology
Leveraging AI as a Decision Support Tool in Claims Processing: A Balanced Approach
AI in claims processing: A powerful ally, not a replacement. This article explores how insurers can strategically implement AI as a decision support tool, enhancing human judgment while maintaining ethical standards. We discuss key strategies including AI-powered insights, bias mitigation, and continuous learning, showing how this balanced approach improves efficiency and fairness in claims resolution.
3 Types Of Claims Metrics Every Department Should Be Looking At
Good news! – claims departments are now flooded with great data.
Seems like great news doesn’t it. It is great news, or can be, if you’re using the data to help improve the operations, lower cost or predict the future. However, many firms aren’t using the data they have to provide valuable information for the operation. With the advent of more modern claim technology there has been a push to input more and more information about claims.
Claims Predictive Modeling: Using The Numbers To Improve Operations And A Change Worth Exploring
Claims Predictive Modeling (CPM) is one of the big buzz words in the industry. After a few decades of improving claims technology systems and creating vast databases of claims information, CPM is an attempt to use that information more effectively. In our latest post we discuss CPM and what it means to make changes to adopt this new metric.
Everybody Wants to Make Improvements In Claims But No One Actually Makes It Happen
There is so much that needs to be done in the world of claims. Operations need fixing, technology needs improving and a futures need to be defined. For some reason however, we are all really good at talking about it and not so good about doing anything about it. The industry needs to take action. Claims departments need to think creatively and “out-of-the-box” if we are going to attract new talent to the industry. This also means acting and not just talking about acting.
What Would Steve Jobs Do In A Claims Organization?
So what would Steve Jobs say about our claims industry? Well, having heard about his reputation I think I will leave what he would say out of this post. Regardless, I think Mr. Jobs would see an industry with tremendous opportunities to innovate and improve the way they deliver and manage claims services. In our most recent post, we explore a claims world in as it may be in the world of a master of product design and marketing.
Why Don’t Claims Organizations Track Claims Through The Process The Way UPS Tracks A Package?
Today as a customer you can track your packages from the moment they leave the store to the second they arrive at your door. During that time you can see where they are in the process. Truly amazing. Why can’t claims organizations do the same thing? How much better would a claim be if we could track it through the system in the same way UPS can track a package. Something to think about when reading the latest from theClaimsSPOT.
5 Must Haves To Consider When Implementing a New Claims System
Implementing a new claims system can be fraught with issues and concerns. It is important to understand the people aspect both before and after a system is put into place. At the end of the day the system must support people and those people should be involved in the process way before you go live. This week we learn 5 suggestions to assist in the implementing a claims system learned from Paul Tuhy, Global Head of Claims for XL Insurance who recently spoke about technology at the most recent Americas Claims Event in New Orleans.
Looking Back On 2010 And Forward To 2011 In The World Of Claims
The year began with continued economic concerns, a poor job market and no recovery in sight. It has come to a close with a booming stock market, improved job numbers and a better outlook for 2011. Looking back on the year in claims and looking ahead to the future of claims is always a fun exercise this time of year so here we go! The Claims SPOT adds to the debate about the past and the future.
Thanks for reading and have a happy and healthy holiday season and New Year!
Quick SPOT: 6 Security Tips To Keep Portable Technology Safe For Claims
If you are like me you keep everything on your laptop and cell phone. Numbers, corporate information, claims data, and even some of the dreaded non-private personal information of others. Claims data is filled with information that if lost or stolen could be detrimental to both the company and the individual. Many companies today issue corporate cell phones and blackberry devices as well as laptop computes in place of desktops. It’s a modern world and we are all expected to be connected. Partial work at home arrangements also mean this information is traveling from location to location which can increase the risk that things may be lost or stolen.
Take a look at these suggestions to help keep your claim information safe and secure in the latest post from the Claims SPOT.