The reputation and image of insurance company depends on the speed and efficiency with which it settles a claim. Hence, managing claims in a systematic and comprehensive manner becomes essential for all insurance companies. Claims department also acts as a de-facto marketing department, since customer retention and loyalty is shaped during the claim administration process.
The Claims component designed and developed under FirstApex Insurance Component(FIC) framework is a comprehensive Claims Management system, which facilitates the automation of the core claims process. It provides complete on-line transactional information on claims on real-time basis and supports the entire life cycle of claims business process right from notification, registration, adjustments, payments, recovery to revise reserve etc.
Key Benefits:
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Full operation control and enhanced productivity
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Efficient RI recovery ensuring effective cash flow management
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Support for Full Claims cycle thus ensuring optimisation of systems and processes
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Enhanced Customer care by providing real time information and updates on the claims
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Analysis Aided Decisions based on the rich underlying data that is captured
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Catastrophe Claims Tracking thus effectively helping in tracking exposures and recoveries
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