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Insurance
Approval Process Solution
Comwave provides solutions
for the Insurance Approval Process, including :
‧New Business
‧Claim Processing
New Business
Given the competitive insurance
marketplace, the accurate processing of new business is essential in
maintaining customer satisfaction. New Business Solution can control the
cost of new business processes (over whatever channel), achieve Straight
Through Processing (STP) by automating and streamlining process and help
monitor Service Level Agreements (SLAs) and aid
compliance by providing audit trails for every transaction and access to
real-time management information.
The challenge of introducing new procedures is reduced and the
ability to cross sell becomes a reality.
Claim Processing
In all lines of insurance, the
claims process (including origination, processing and management) is a core
part of insurance business and a key service deliverable. Efficient claims management require
effective integration of activities that cross from the insurer to outside
suppliers and partners. However, as
is still common practice today, these interfaces between parties are
predominantly manual or at best semi-automated and can often lead to the
occurrence of human errors, poor claims tracking and lack of management
information.
Comwave Insurance Approval Process Solution using Staffware
BPM technology to enable the end-to-end automation and integration of the
claims process from the customer interface through to the back office. Benefits include :
‧
Reduced unit costs by
streamlining and automating costly, labor-intensive processes
‧
Improved customer service
through online tracking for customers on the progress of a claim
‧
Increased productivity through
automated routing to underwriting, minimizing the need for manual
intervention
‧
Enhanced management
information and audit trails for meeting SLAs,
monitoring KPIs and fraud detection.
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