Claims reporting can happen whether something minor, like a fender bender, or something catastrophic, like a house fire, occurs. We’ve outlined some of the basic steps to go through when filing a claim.
I. Assignment of claim:
After the claim is received, a professional will be assigned based on the type of claim it is.
II. First contact:
Claim professionals will contact the victim to gather facts, assess the total loss, and evaluate coverage. They’ll then run through everything with the victim and identify ways to protect the property from further damage.
III. Valuation and estimation:
A claim professional will check and document the damages to determine whether the loss is covered by the policy. Photos are sometimes taken, and if needed, witnesses are interviewed — after which the claim can be evaluated.
IV. Declaration:
After reaching a resolution, the customer is either compensated for the loss or they’re denied payment because of lack of coverage.
V. Shutdown the claim:
Once the claim is resolved under the terms of the policy, it is closed. However, it can be re-opened for investigation if any additional expenses are discovered.
To learn more about how Actec can assist your business in claims management, click here.
Author: Andrew
An Effective 24/7 Claims Reporting System Is Essential
Many individuals require an effective after-hours claims service. Today, most insurance businesses have 24-hour toll free lines for their clients to call up in times of trouble.
With Actec, you get the benefit of our professional staff that is trained to support a customer through a claim. We can also help with reporting the claim to your insurance company and will work with the customer and the company to ensure that the customer is satisfied with how their claim is handled.
Claims are not time specific and can happen around the clock; all the more reason to have a 24/7 claims reporting system available. Although loss is something people have no control over, when a customer calls in to report a loss, we can take control of the situation.
A lot of businesses today are outsourcing FNOL systems, to allow their own staff to focus more on their respective tasks. When you join hands with Actec, you benefit from having a representative present at all times to take a call and provide instant care.
To know more about Actec and our services, contact us.
9 Tips for Better Claims Management
The best claims management techniques will control costs, and improve a company’s employee retention. Mentioned below are 9 tips to do exactly that:
Understand the people and responsibilities of all participants involved.- Ensure that all individuals understand their roles and responsibilities.
- Document all injuries, whether they are major, or minor.
- Report everything without leaving out any detail.
- Train staff on filing claims, and encourage employees to take the appropriate steps.
- Work-related, and non-work-related claims must be treated equally.
- Do not be biased with employees, and ensure equal treatment of all claimants.
- Document, document, document everything.
- Cultivate your relationships with the claimants, even after settlements.
Companies should encourage their employees to be honest with the management. At the same time managers need to be respectful and patient with the concerned parties. To know more about Actec and how we can assist your business’ claim management procedures, click here.
Do You Know Where Your Employees Are?
Do you know why your employees aren’t at work each day? Most employers today are facing an increasingly competitive industry for locating and hiring new personnel. A lot of firms that face this problem today aren’t sure of how to address it.
An absence management system needs to have a well thought out plan to be implemented and needs room for flexibility too. The topic of absence is a broad issue that spans across a number of situations i.e. disability benefits, vacations, leave due to sickness and others.
No matter what the reason may be, absence from a business standpoint is a loss in productivity and ultimately affects the company’s bottom line. Keeping all of it mind, business managers need to employ a proper absence management system and protocol to reduce absenteeism, bearing in mind that employees are people at the end of the day and may have genuine reasons for not reporting to work.
To know more about Actec and how we can help you employ an effective absence management system, click here.
FNOL Is a Customer Centric Process
Customers are the very essence of every business. In fact, they are the most important asset for a company so it is vital that your FNOL system grants them the service and support they expect and require. At Actec, we believe that there isn’t anything worse than needing services from an insurer when they are closed.
Actec offers a 24/7 claim reporting system that will not leave your customers stranded in the middle of the road following a collision. We are there to fill in the gaps with experienced and well-informed personnel for the job.
Operating every hour of every day, Actec is prepared to provide top quality service to your customers, and maintain lasting relationships your business has with its customers. We understand the importance of being the first point of contact when notifying a claim, and are equipped with providing your clients with expert assistance in a friendly and professional manner.
To know more about the solutions available to you click here.
Tips for Handling Employee Absenteeism
Most businesses rely on steady productivity supplied by skilled and driven employees to remain profitable. Without this basic operating principle, producing top quality goods and services becomes difficult, resulting in lost productivity due to unplanned absences.
Here are a few tips to control your employee absences:
- Fix a target business-wide rate of absence and move towards that target
- Classify attendance issues by examining absences by designations and divisions
- Keep attendance and absence policies updated and circulated
- Utilize aimed involvement strategies to reduce the level of absenteeism
- Have a formal back-to-work process that comprises a risk assessment
Our system of absence management offers fundamental intervention and robust descriptions. It allows a company to comprehend and decrease the expenses related to employee absence.
By using our system, your company stands to benefit the following:
- Increase productivity
- Diminishing the length of absences
- Diminishing the number of absences
- Improve claims reporting and reviews
- Track absenteeism and the expense rate
To learn how an effective program can mend and strengthen your business click here.
FNOL: The Backbone of Claims Handling
FNOL is the backbone for claims handling, outlining fundamental strategies to organize and improve tracking methodology. Though it speaks to the fundamentals, FNOL can be very complex.
The process of claims handling can cause anxiety for internal and external customers alike. They need care and compassion on your part. Yet it’s crucial that you ask the right questions to collect appropriately detailed information. These details must then be uploaded into a claims management system in a timely manner.
One mistake can prove costly to both your bottom line and your reputation.
It’s vital to have staff and employees trained in claim handling. They need to be equipped with the know-how of the situation. All the while being able to comfort the customer and carry out his/her job.
A capable FNOL specialist should provide:
- An extraordinary representative who is well informed about the process
- A representative who is always ready to talk to a customer
- A representative who can provide instant care for critical situations
Contact us to find out even more about Actec and our services.
Top 3 FNOL Guarantees
Most often then not when people make a claim they are under the impression that they are contacting their insurer. However, in many cases they are actually contacting an outsourced FNOL Call Center. Making a claim is a tough situation and we realize how important it is to handle it correctly. An effective FNOL service system is vital to the image of the company.
Even some of the biggest insurers are unable to implement an effective FNOL system. A lot of them try using an all hands on deck plan to pull all personnel to handle claim calls.
Actec offers an after hours reporting system that works around the clock and it has many benefits. Here are just a few:
- Serving customers 24/7, 365 days a year without fail
- A knowledgeable representative on the other end of the phone
- Optimum customer satisfaction and service
To learn how Actec can aid your business with FNOL systems click here.
Absence Management Fundamentals
Absence management pertains to any illness or unsanctioned absence from work. The rate of absenteeism can vary depending on the size of your company, but no matter the size it is vital to remember that absence is a cost for the company. This applies to the financial and operational aspect as well.
Given this, what are the main causes of absenteeism?
- Short/long term sickness
- Pressure at the workplace
- Worry and unhappiness
- Issues with family
There is no clear solution to absence, however firms can have procedures in place when an employee returns to work. Interviews and disciplinary actions will do the job well. Remember to always be careful to not to demean the employee.
One big reason to implement these protocols is to cut the employee costs and improve their engagement with the company, all of which will increase the all-round productivity. Similarly a key factor in cutting illness absence, is the commitment of senior level associates.
To know more about how our absence management system can aid your business click here.
Integrating For Better Claims Management
The truth about claims management is that it faces a lot of issues – issues with regard to long implementation cycles, claim processing being carried out inefficiently and much more. The biggest reason for this is that the claim system is not properly integrated.
With the changing times, radical integration of these huge and intricate processes can be attained by leveraging technology. There are several advantages of using an integrated system.
- Single user environments
- Optimized claims handling procedures
- Presentation of multiple data assets for enhanced alert competences
- Greater task automation openings
The technology developments attained with the aid of advanced integration can improve efficiency in adjusters, encourage improved decisions, and even produce greater customer experience. It creates a system that is centrally controlled and plays the role of an organizer for the entire claims processing procedure.
With all these new developments open for implementation, it aids in better understanding to identify and detect fraud cases. This brings about an overall decrease in the gravity in claims.
To learn more about how Actec can assist your business in claims management click here.