Simplified Claims Management
It is widely agreed that the claims function is the single largest and arduous overhead in an insurance company, accounting for between 75% and 90% of total administrative costs. Inefficiencies in the claims process drive these costs. Old, legacy-based and paper intensive systems are still common place. Repetitive or routine interactions that largely have little impact on the outcome of a claim are frequently a large part of an insurance employee’s day. These inefficiencies, coupled with an increase of claims fraud, represent real challenges to insurers and their third-party suppliers to simplify the process for their employees and customers, remain competitive and run profitable, growing businesses.
Automation for “One View of the Claim”
By removing legacy systems and integrating web-based technology, disparate parts of the Claims Management process can be joined up, enabling insurers to track claims from start to finish through their lifecycle. Ideally these solutions also give suppliers access to the web-based application, so that jobs and services they deliver can all be checked and accessed electronically for greater efficiency and effectiveness. Finally, customers can also check the progress of their claim online, also accessing the online solution without having to contact their insurer. This all cuts down on administration time, saves money and removes customer hassle. Automation also can provide a comprehensive view of the claim to all parties involved so that the details and the current status of the claim can be accessed immediately, giving “one view of the claim.”
Introducing IT-Freedom’s ICE Solutions
IT-Freedom’s family of insurance components, ICE solutions, let you rapidly deploy, integrate and implement a web-based Claims Management process in your business and with your key business partners and solves the complex problem of managing your business through the provision of easily obtainable information. Uniquely our ICE solutions can be managed by you without constant recourse to IT skills, keeping down the cost of ownership.
ICE Claims™– A fully web-enabled Claims Management solution comprising claims servicing and case management to give “one view of the claim” for Motor, Household and General Insurance claims.
ICE Track™– A reporting and analysis solution designed to put you in control of your business by providing you with the vital information to support not just your claims decisions but also policy and underwriting.
ICE Consultancy – As well as working on the development of our own ICE solutions our seasoned insurance consultants specialise in project management, business analysis and integration to ensure that you continue to get the best from your investment.
ICE Hosting – Our sister company IT-Switch was founded to provide working IT infrastructure and to manage that infrastructure to customers in the general insurance market place. Our goal is to offer a menu of services that can provide everything from a complete virtual IT department to one specialist support element e-mail and internet access.
