New Technologies to Improve your Claims Management
During the last decade, technology has come a long way and so has the compliance landscape for risk management and data protection. It is important to know about this advancements, so here are the top technologies that will help you in your claims management.
Data security is a hot topic these days. Fines up to £500k and a possible corporate prosecution can be filed for those who are guilty. A respectable risk management system provider must keep themselves informed of the latest security measures to make sure that your data integrity does not become compromised as technology quickly advances.
Workflow automation is becoming a lot more attainable and easier to configure. Your procedures for claims management can be built into an automated workflow. This will remove very time-consuming tasks in your day. It will also reduce human errors and inconsistencies between staffs. This will improve the accuracy of your data and help you meet regulatory obligations.
Document management and organization
This is now included as part of a claims management system that supports today’s “paper-free office” culture. A really good system must integrate with emails relating to particular claims and will automatically store any attachments in relevant claims file. This means it is always up to date and with version control in place too. This will make life easier since it takes a load of work off from your desk that you have to manually save documentation to the system.
Cloud based storage is slowly going from the latest thing to an increasingly accepted necessity. Cloud offers instant accessibility at any location on any device that can connect to the internet. This supports the popular and necessary drive on flexible working. Cloud also allows collaboration and sharing of important data with various departments and suppliers.
In line with the recent advancements in technology, the expectation of managers on data integrity and reporting has risen dramatically. A series of manually updated graphs in Excel are no longer enough. We are now expected to make the most of the data that we have.
Heat maps are the ultimate toolkit that enables fast visual trend analysis. Using this, you can now quickly identify claims hotspots and drill into important data. It will be also helpful in identifying possible fraud.
Technology has come on bounds and leaps. So, if your claims management system has not been updated recently, contact Ian Whittock.
Ian Whittock and Evoque Claims & Appraisals will give you the top appraisal services in the UK. With an Evoque appraisal report, you will have a comprehensive, up to date overview of your buildings and contents sum insured, that will ensure you have the correct levels of cover in place.
Ian Whittock is the Managing Director of Evoque Claims and Appraisals, Evoque Auctions and Identidot Coding. Please visit Ian Whittock Linkedin page here and Ian Whittock Crunchbase page here and watch Ian Whittock video on Youtube here.