Insurance Claims Software System

How the insurance claims software reduced administrative processing and supported insurance claims tracking and risk management.

Requirements:

Insurance requirements as described by the customer indicated the process for reporting insurance claims, including automobile liability claims, asset liability claims, and third party liability claims frequently led to missing or incomplete insurance claims information. The company needed a way to have those employees that were at remote site offices enter claim and event information rather than one person in the corporate office. These people were closer to the event and therefore more qualified in knowing the insurance liability claim details.

The company also needed a way to share insurance liability claim data to executive management while making certain insurance claims available to middle management for follow ups and insurance cost tracking. The more accurate the insurance liability claims were tracked, the better the company cold take steps to reduce organizational liability and strengthen enterprise risk management.

The company needed a way to measure liability claim trends – There was no way for managers and decision makers to view an accurate depiction of how the company’s risk management practices and results had changed over time. The company was also unable to determine how to improve the organizational risk management programs to reduce, for example, automobile liability.

A1 Enterprise implemented a custom web-based insurance claims software which provided automobile, third party, and asset loss claim reporting. This online insurance crm had both human resources software integration and accounting software integration. This ensured that data on the required OSHA reports remained accurate and readily available on demand.

Results:

The insurance claims software made available the necessary electronic forms to track insurance claims across the organization both timely and with accuracy. This insurance software replaced the single user software forms and there was no longer a requirement to fill out claim forms long-hand and fax to a corporate office. Project managers and risk managers receive insurance claim and asset loss email notifications each time an event is reported. Managers also proactively handle high risk situations to make rapid management decisions to ensure high-risk sites have the attention they need for resolution. The insurance claim software offers software integration with human resources software, ERP software , and the OSHA accident prevention software which eliminated 100% data entry duplication for employee and payroll data. The new insurance software leveraged additional information from the fixed asset software such as equipment details and replacement costs, job site details, and employee information. Reports that used to take 24 hours to compile now took managers 5 minutes and the data on the reports are now complete and accurate.
Return on Investment:

Upon implementation of the insurance claims software there was an immediate improvement in company risk management processes. The time spent by an administrator inputting data and submitting liability insurance claims to insurance carriers reduced because the system allowed an administrator to submit electronic insurance claims to insurance carriers upon receiving notification of an event. Data was input by risk management staff and provided accurate and real-time information. This eliminated duplications in faxed forms and submittals.

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