Virtual claims processing sounds excellent in theory, but what does it take to put it into practice so you get the most significant benefits and avoid hassles? The secret sauce of successful virtual claims processing is a blend of data and technology application, third-party relationships, workflow transformation, and speed.
Making Claims Automation Real
There are opportunities for automation that streamlines and enhances the claims process all along the way―making it easier for customers and insurers, including:
Companies that support the insurance sector are increasingly offering turnkey solutions that enable some or all of these capabilities. Digitization creates a foundation that accelerates these capabilities. But it all has to gel together cohesively.
In this video, William Brower, Vice President, Auto Claims for LexisNexis Risk Solutions, explains how becoming proficient at handling virtual claims takes more than technology. It requires creating new workflows and monitoring new third-party capabilities, all with an emphasis on quick responsiveness.