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| | Problem
Anyone who has ever made a car insurance claim knows just how frustrating the process can be – phoning the insurance company, filling out endless forms, chasing the insurer for action at every turn. It can be a time-consuming process and is definitely something we can all do without at a time when we’re at a low ebb anyway.
But the process is also time-consuming for the people on the other end of the phone dealing with your claim. A single claim can generate reams of paperwork and associated actions that need to be carried out before the claim can be put to bed and settled. In the case of a car accident, for example, a phone call from a customer making a claim initiates a whole chain of events that need to be carried out in a specific order and with a great deal of follow-up involved. Things like contacting a car hire company for a replacement vehicle, obtaining estimates for repair and commissioning the work to be carried out, and so on and so forth.
This is a lengthy and laborious process, both for the insured party, sitting at home car-less and possibly injured, and for the insurance company responsible for settling the claim through the labyrinthine claims system.The implications for the insurance company trying to run a profitable business and motivate and retain staff in an environment as complex as this are obvious.
Every claim has to be handled multiple times, people have to be chased for the next action to be carried out and there is an enormous opportunity for mishandling of claims, wasted time and money. The consequences for customer satisfaction, productivity, profitability and staff retention are clear.
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| | Solution
As a reply to the problems faced by the insurance company, Methodus developed the Claims Management solution, which assures a high degree of systematization, resulting in a reduction of the time and resources necessary to process accidents, on a better service to the customers, in the reduction of processes in litigation office, in the reduction of clinical assistance costs and in better management of reserves and payments.
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| | Description
Claims Management Solution as been implemented successfully in companies in Portugal and abroad. It includes functionalities such as accidents claims management, document management and interconnection with Call Center, CRM, ERP and Back-Office systems.
Work Management
Wizard opening process: application, based on one wizard, used by the agents to open accidents claims and sub-claims, do the first responsibilities definition, affect the necessary coverages, place an initial reserve and define the probability of fraud. With this tool we will be able to do the connection with the prefered organizations, as well as scheduling the entities in the resolution of an accident such as the estimators, lawyers, investigators, etc.
Claims Handling: application, based on one wizard, used by the agents for, among other functions, do the accidents process and sub-process management, from the inspections management to replacement vehicles, modify the reserves and do the necessary payments.
Process Agents: Aplication that automates many tasks (for example, the correspondence creation).
Remote Acess: allows remote participants in the claims process (estimators, investigators, auto repair facilities, etc.) to view and manage claims or sub-claims.
Document Management
Scan and index: Scanning and indexing of related documentation for an auto claim.
One key indexing: Single key indexing populates a data entry form based on a single keyed index field. Fax and email integration: Allows documents to be introduced into the system automatically via a fax or email.
Digital photography: Allows digital images of property damage (vehicle and other) to be included with the claim or sub-claim.
The solution includes functionalities related with sending faxes to rent-a-cars, investigations schedule, sending information for the estimators, estimatives calculation and photograph capture with digital cameras, allowing to reach one high level of systematization, automatization and a significant reduction in the time and resources necessary to the processing of a claim.
Some of Claims Management solution most important functionalities are the increase of the efficiency levels and service, the payments control, the process total control, from a claim opening until its end, allowing reduce the human intervention in the process and consequently the process life time.
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| | Benefits
While Procurement offers the largest opportunity for cost/productivity improvements, e-Procurement is one of the most effective ways to enhance the management of indirect, direct, and sourcing processes. An effective e-Procurement strategy will be key to competitiveness in the future.
Firms usually attempt to improve sourcing by increasing competition—soliciting additional bids and negotiating harder. While these are helpful, other strategies that can unlock additional savings are often overlooked. Innovative strategies include the following:
- Increasing price transparency by disaggregating bids;
- Reducing complexity by establishing uniform standards;
- Reducing the number of suppliers within a given category;
- Improving monitoring and enforcement of contract compliance;
- Creating a global procurement structure to leverage the organization’s global purchasing power;
- Working in partnership with key suppliers to jointly lower costs.
Strategic sourcing is a critical tool for financial institutions that want to achieve sustainable cost savings. A holistic approach to sourcing can not only reduce overall spending, but can also yield additional benefits including better service levels and improved access to the latest technologies. Strategic sourcing is more than a tactical cost reduction effort. Instead, it is integral to developing sustainable long-term competitive advantage.
Most enterprises today are debating these issues and searching for solutions that shorten time to market, reduce operating costs, free capital for investment and provide solutions to cope more strategically with continuous change. Ultimately, enterprises that implement these solutions successfully will attain long-term competitive advantage.
How Internet sourcing can benefit your organization
- Reduction in prices of materials/services (5% - 20%): Rapidly establish competitive bidding space, access new suppliers and expand geographical reach;
- Shorter procurement cycles (25% to 30%): Automate the RFP/RFQ process, streamline order-to-pay processes and faster Time to Market;
- Reduce administration costs: improve buyer productivity and reduce/eliminate paper-based processes for better services and quality;
- Improve ability to create/manage optimal supply base–Improved market data: minimize demand peaks;
- Improve ability to create/manage optimal supply base–Improved market data: minimize demand peaks.
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| | Technology
This solution combines several technologies, namely Client/Server, MTS, Relational Databases, Integration with the BackOffice System, Call Center, CRM, ERP, Workflow, Document Management and Remote Access.
The front-end application was developed in Visual Basic and runs on Windows NT/2000. Data is stored in an Oracle or Microsoft SQL Server database. The database server and the workflow server run on UNIX (e.g. AIX) or Windows NT/2000.
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Process Management
