Claims processing is one of the most important processes that happens in an insurance company. Yet, it’s riddled with inefficiencies and slowdowns that prevent you from giving your customers a good insurance experience. Claims are the reason why customers pay for insurance after all. It is up to you to modernize your claims processing so you can provide exceptional service to your customers.
Here are five ways that you can evolve your claims processing in today’s digital world using the right technology—like Rubex.
1. Requesting Documents From Customers
Collecting various types of documents from customers is the first step to kicking off the claims process.
Then: In traditional claims processes, documentation from customers was gathered only after the insurance provider notified them of the required list of documents. From there, customers likely submitted their documents through email that the provider had to review for completion.
With Rubex: Easily collect every document from your customers by sending them a secure link. This link can take them to a portal requesting all of the required documents that they can upload with just a click. Additionally, you can request specific forms with required fields for them to fill out completely before submission is permitted.
2. Standardizing the Processes
Carrying out the claims process the same way every time can help you easily train new employees and ensure that they stay efficient.
Then: There may have been a set “best practices” for claims processing across an organization, but it often missed the mark because there were still individuals that saw room for improvement and wanted to overhaul the process. With manual processes, you may have tried to pinpoint areas that could be improved, whether or not they follow the standardized process.
With Rubex: It doesn’t matter who the adjuster is in each claims process. Automation technology for claims is what actually can standardize the process. It replaces the human work that has room to improve with the computer work that’s done efficiently every time. With a full overview of processes, it’s easy to adjust your processes across the board without any disruptions.
3. Extracting Data
Upon receiving a form from a customer, your team will have to thoroughly review it just to determine what they want and what workflow needs to be applied.
Then: Manual data extraction was the only option to get information that you could use for other purposes later on. Specific employees had to be tasked with manually extracting the data and transcribing it into something that could be used in the future. This was a slow process that was prone to errors.
With Rubex: Data extraction can be completely automated when you use Rubex’s Zonal OCR. It extracts key metadata that can be used for future purposes, such as triggering workflows, further organizing data, and searching. You can completely avoid any human error that plagues data extraction with this tool.
4. Reviewing and Approving Claims
With all the approvals a single claims submission must go through, keeping it efficient can help you avoid significant hold-ups.
Then: Just to get a single approval, countless reminder emails had to be sent to the approver. This was time-consuming because it was unclear whether the claim hadn’t been approved because the person hadn’t seen the document, was busy with other things, or had just forgotten to route it to the next person. Too often, documents just sat there with no one working on them.
With Rubex: With today’s advanced technology, reviews and approvals can be completed in just a few minutes. A single click of a button can approve a document and automatically move it to the next step of the claims process—or be routed to the next person. Notifications are automated and items are given priority to appear immediately before the right user.
Properly storing all of your customers’ documents that you can easily refer to later will keep your organization in adherence with strict insurance industry regulations.
Then: Filing away important documents into a physical filing cabinet, your computer desktop, or a number of other locations worked, but wasn’t especially efficient. When it came time to locate them, misfiled and mistitled documents and the time it took to determine where you stored your documents set your entire process back.
With Rubex: A centralized database gives you access to all of your documents in one place, instead of spread across multiple systems. When paired with advanced search capabilities that include full-text search, you can find any document in an instant, even if it has been filed under the wrong name.
How Rubex Helps You Evolve Your Claims Processing
If the added simplicity of the claims processing evolution isn’t enough for you, there are three main benefits that will completely change the way you do business.
- Faster time for customers to receive payment after submitting a claim
- Increased efficiency allows employees to get more done in less time
- Improved accuracy that helps you to get things done correctly the first time
It may seem overwhelming to know how to start modernizing your organization’s workflows. Rubex not only makes it possible, but it makes it easy. Rubex offers impressive features that can improve every aspect of your claims processing (document requests, standardizing processes, data extraction, simplified approvals, centralized data access, and more). Revolutionize your insurance business today!
If you’re ready to take the step towards an evolved claims process, let’s talk.