First notice of loss and absence management programs present a substantial opportunity for organizations to improve efficiency, decrease shrink, and increase the bottom line. The basic concepts of FNOL and absence management are simple enough, but it doesn’t take long to get bogged down in dense terminology and jargon. In this blog we’ll lay out some of the most important terms.
Incident Reporting – The process of transferring data from the initial instance of contact into a working claims document.
Workflow changes – Modifications to documentation and procedure based on new requirements set forth by legislation or corporate shifts in policy.
Intake Specialists – Personnel trained in first notice of loss and incident reporting procedures.
Claims Management – Processing incident reports to resolve necessary documentation, compensation, and other issues arising in the FNOL and absence management process.