How do you manage your claims process presently?
There is always more than one way to manage a claims process, ranging from the extremely manual to the use of cutting-edge technology, and this is absolutely the case in our experience when it comes to claim & incident management.
Over years of conversations we’ve had with organisations, we’ve uncovered a wide range of processes, from manual paper records, notifications sent through the post, self-built Access databases, and scenarios where there seems to be a different spreadsheet for every possible variance.
Now, all these processes fulfil the need to record a claim, but I think we’d all agree that it isn’t the best way, and there will undoubtedly be challenges around:
- Data loss / back up
- The control of user access
- Duplication of effort
So how can the management of your claims process be enhanced?
Using software built specifically for the purpose is the best way to avoid these challenges, and Software as a Service (SaaS) is good for minimising the need for backups and improving software access so that you simply turn on the computer, click a few buttons and away you go.
But just getting a decent piece of software isn’t the only answer, and thinking about what functionality would enhance your process is also an important consideration at this stage as there are so many elements of additional functionality that can add real benefit and value to the process of claims notification and management. An important part is how data about the claim is populated and managed, for example, the claimant and the business asset(s) involved, whether that’s a vehicle, piece of equipment or property.
Some systems will support the capture of this in a field within the claim detail, but that’s often where it stops. But wouldn’t it be useful to know lots of the same information whenever the same car is involved? Wouldn’t it be useful to obtain reports to be able to track not only the claims but also identify whether there is a trend occurring with certain types of equipment you have on site? For example, is there a trend where handheld equipment is being reported as stolen when working at a specific location or with a particular sub-contractor? The ClaimControl property and motor module can help you gain insight from your data so that you can take steps to mitigate risk and save money both from direct cost but also consequential losses, like downtime and more expensive insurance policy renewals.
ClaimControl is the answer
The property and motor module allow you to build up your own database of vehicles and properties within ClaimControl or integrate directly with an existing system like a fleet management system or property software and this could mean you benefit from having the most up to date information at your fingertips. For example, with our property module, you can associate any claims specific to a building, but also link specific policies to the properties, as well as apportioning premium to the properties covered by any policies. This can be hugely beneficial when it comes to preparing for insurance renewal as you can get a snapshot of everything to do with the property from one place e.g., historic claims, active claims, coverage needs and previous policy data.
At Alphatec we work hard to develop and enhance our systems to make them work smarter and ensure that you can improve the way you manage your claims processes. To talk to us click here