is easy to see why claims management is one of the most critical functions of your business. Reducing ... Provide custom
Claims Management
REDUCE THE COST OF CLAIMS MANAGEMENT WHILE IMPROVING CUSTOMER SERVICE Losses and fraud are increasing, and clients
Four ways Software AG will help you solve
are becoming more fickle and self-reliant.
your claims management challenges:
How will you transform your claims
1. Minimize loss costs
processing to improve your profitability? If you are like most insurance companies, your claims management costs comprise nearly 7590% of your overall cost base. And since the claims process directly impacts client loyalty, it is easy to see why claims management is one of the most critical functions of your business. Reducing claims management costs, even by small percentages, will have a significant impact on the bottom line, and improving customer service during the claims process will improve customer retention.
• Reduce fraud with real-time alerts of
• Identify costly processing bottlenecks and inefficiencies
• Improve partner integration to streamline processing of routine engagements.
possible abnormal activity, greater claim visibility and better access to data
3. Improve customer service
• Integrate with external service providers
• Minimize customer interaction to obtain
and improve supply chain management
data, negotiate settlement, and deliver
• Minimize erroneous claim payments (claims leakage) by integrating information for improved decision-making
• Improve subrogation and salvage recovery by automating identification and management
goods/payment
• Reduce resolution time by automating routine claims processing
• Decrease claim errors with a single view of the claim, better data capture, and better integration with partner service providers
• Provide customers with a single view of all 2. Reduce processing costs
• Automate claims processes and decisionmaking, and implement continuous process improvement
• Reduce time wasted on overhead and non-
relevant information from across your network of partners
• Allow customers to access the claims process across many channels (e.g. SMS, Mobile, Internet, Call Center, Broker Offices)
Fact Sheet
value-added tasks
• MetLife Insurance shares business process logic across the enterprise with a robust and scalable Software AG platform. • Canada Life used Software AG to integrate core financial and investment systems with customer management systems. • American Fidelity Assurance streamlined channel operations and enabled acceptance and issue of policies without human intervention – all with Software AG.
• Define the process, access information easily, and receive real-time alerts throughout the claims lifecycle
• Use a rules engine to automate routine claims decisions - freeing staff for more complex claims
• Recommend decisions for human approval in complex claim situations
Why Software AG?
KEY BENEFITS
Proven track record in the insurance industry
• We have successfully delivered solutions to leaders across the insurance industry, including brokers, insurers, underwriters, and
Reduce loss costs by 15% Minimize loss costs, identify fraudulent claims, and improve recovery activities.
market makers
• These industry leaders rely on Software AG for the mission-critical systems at the very heart of their businesses Successful delivery of the complete
Lower process costs by 30% Improve visibility, control, and responsiveness of your claims process. Reduce overhead costs and focus on core activities. Deliver better process integration with partners.
business solution
• Our industry expertise, professional services team, and world-class partners bring together business solutions tailored to the specific needs of our clients
• Our best-practice methodology and approach
Improve customer satisfaction Improve client relations with a single view of each customer and claim. Reduce resolution times, increase automation, and minimize client touch points. Deliver more channel options.
ensure the quality, timeliness, and cost of the solution
• Software AG’s Business Infrastructure Suite provides the best-of-breed business integration platform for your business challenges
Increase control for more consistent decision-making Improve visibility, automate decision-making, and utilize predictive analysis to improve quality and performance.
Pedigree in integration
• Software AG and webMethods have been in the integration business for many years – our
Take the next step to managing your Web Services — faster.
pedigree and considerable experience are based on both enterprise-level and business-
To find the Software AG office nearest you,
to-business integration
please visit www.softwareag.com
• Software AG not only provides the best SOA and BPM solutions on the market, but also leads the industry for emerging technologies such as semantic metadata and SOA governance and sets the benchmark against which the industry is measured
ABOUT SOFTWARE AG Software AG is the world’s largest independent provider of Business Infrastructure Software. Our 4,000 global customers achieve measurable business results by modernizing and automating their IT systems and rapidly building new systems and processes to meet growing business demands. Our industry-leading product portfolio includes best-in-class solutions for managing data, enabling service oriented architecture, and improving business processes. By combining proven technology with industry expertise and best practices, our customers improve and differentiate their businesses – faster. Software AG – Get There Faster © 2007 Software AG. All rights reserved. Software AG and all Software AG products are either trademarks or registered trademarks of Software AG. Other product and company names mentioned herein may be the trademarks of their respective owners.
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4. Control and improve decision-making.
