Automated FNOL and Claim Intake

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September 20th, 2016

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absence management video image borderMany companies are looking for ways to improve their claim intake process. Technological solutions are often a high priority. Such technology boasts electronic crash detection, automated first notice of loss (FNOL), prognostic solutions that aid in the vehicle repair process, and more. It works for insurers similar to how OnStar functions for drivers. However, while there are benefits to such technology, there are a number of drawbacks as well.

 Benefits

  • Collision injury support. The technology includes contacting rescue support in the event of a collision. Even if the driver is not injured, knowing that assistance is on the way can help keep them calm. This is helpful for drivers who do not have security systems like OnStar.
  • Automated claims. Many policyholders are shaken up after an accident. They may not think to contact their insurance right away or may be too panicked or injured to do so.
  • Reduce hit and run incidents. This technology can help eliminate hit and run collisions. If the policyholder flees the scene of the accident, their insurance company will still know about it. The police will be able to subpoena the insurance company for the information and help aid the other individual involved in the accident.

Concerns

  • Fender benders. If an accident is not severe and the damage caused is negligible, the policyholder may not wish to contact their insurance. Accidents increase insurance rates, so some policyholders opt to pay for repairs out of pocket. This technology would inform the insurance company regardless, triggering the first notice of loss.
  • Overtaxing law enforcement. While the technology can assess the severity of the crash, it will always notify local law enforcement. Minor incidents do not often require a police presence.
  • Damage to the vehicle. In order to get the most accurate damage estimates, a physical person should inspect the vehicle. If the predictive technology is imperfect then the policyholder may not receive adequate money to repair the vehicle. The vehicle may even be beyond repair.

To achieve similar benefits without the significant drawbacks of such an implementation, it’s best to develop in-house solutions that work and improve your FNOL and claims process. To learn more about how to improve your claims management process, contact us.

FNOL Strategies: Efficient Data Entry Strategy For Claim Management

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September 1st, 2015

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Claim management is a critical element of a First Notice of Loss (FNOL) system. The efficiency of data entry, quality assurance and information systems help companies save money and adhere to policy requirements. One of the first aspects of claim management is an efficient data entry strategy.
What Is Entered Matters
When call center operators assist consumers with a FNOL report, the information entered during that contact will set the tone for the rest of the claim process. If the operator is able to capture vital information quickly and enter it into the system, the company will be able to continue the next stages of the process efficiently. If, however, the operator fails to answer the right questions, obtain all of the necessary information or properly document the conversation then extra steps will be needed to complete the process.
Software Isn’t the Only Concern
The right software is an important element of claim management. The ability to create customized fields so that operators can ask the right questions will help make the intake process fast and efficient. Organizing the screens so that operators spend less time moving through pages and more time entering information is also important. But operator training and company policies are also vital.
Operator Training
Good customer service skills and empathy are important traits for call center operators who handle first notice of loss contacts. They need to be able to collect information from people who are distraught and may not be thinking straight at the time. The ability to help a person relax and remember details will help the operator obtain a complete report on the situation.
Company Policies
How companies teach operators to enter information into the system will help employees to be thorough and fast while still creating legible notes for quality assurance and claim processing. Medical codes, insurance codes and a company shorthand will help create a consistency to data entry that will increase efficiency.
The data entry strategy for claims management needs to be comprehensive, detailed and enhanced by the latest technology. Efficiency in claim management improves the customer experience and is a better return on investment for businesses. Outsourcing this aspect of the business can help increase efficiency and ROI. For more information about FNOL and 24/7 claim reporting, contact us.

Electronic Data Interchange (EDI) is Now a Cost-Cutting Tool

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June 10th, 2015

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An electronic filing system allows you to transmit data electronically to other parties while minimizing mistakes and saving time. FROI, SROI and medical bills can be carefully reviewed before submission to avoid delays. Additionally, these are some other benefits of e-Filing:
Improved Customer Service: Timely, resourceful and cost-effective services that help streamline communication with customers.
Quick turnaround time: Mailing, handling and other paper documentation are eliminated as well as processed and reclaimed faster.
Minimizes cost:  Compared to manual processing, EDI allows for cost reductions that give staff resources that can be redistributed to other areas.
Other probable savings: Costs associated with procurement, printing, postage, storage, replacement, stocktaking and distributing printed forms are minimized (and sometimes eliminated) with the use of electronic state filing.
Different states have various requirements for EDI filing, so always consult with a professional.
At Actec, we’re committed to helping you with your EDI filing requirements. To find out more about our services, contact us today.

Speech Analytics a Valuable Technology for Insurance First Notice of Loss Centers

Posted on

May 13th, 2015

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Speech analytics is one of the fastest growing technologies in contact centers. Speech
analytics is the process of analyzing recorded calls in order to review and improve customer interactions with company representatives. The general focus of the analysis includes:

  • topics being discussed
  • emotional character of the speech
  • analysis of speech patterns, and
  • the amount, frequency and location of non-speech patterns which generally represent hold times)

Valuable Tool
Speech analytics is used to gather critical business intelligence that would otherwise be difficult to obtain. Phone interactions between representatives and customers are analyzed and categorized. Useful information is gleaned in a process called audio mining. Companies are finding this technology is useful for understanding more about the customer experience and what customers really think about their company. This gives them the opportunity to evaluate and make adjustments to their customer service policies and procedures. Speech analytics are a valuable tool for determining the training and coaching needs of customer service representatives.
Precision and Recall Measures
While speech analytics have come a long way since they were first introduced into the business world, it still can be difficult to make meaningful comparisons between the accuracy of varying speech analytics programs. What matters most to the evaluator (and the person being evaluated) is the accuracy of the program to point out real issues. Typically, precision and recall measures are used to quantify the responses of the analytics search system. Precision measures the proportion of search results that are relevant to the topic being analyzed. Recall measures the proportion of the total times a relevant search was returned. For example, if a researcher is looking for a specific phrase, precision would be the proportion of times the phrase was found within the context of the overall audio file, and recall would be measured by how many times the phrase is found within the file.
The information gathered through speech analytics technology makes it easier for supervisors, analysts and others in the company to spot changes in customer behavior and make refinements to the customer service delivery process that, in the end, increases customer satisfaction.