Claims Management Services
A good claims' experience is a prominent key to improve customer
retention and safeguard a company's brand proposition!
Hvantage Technologies recognizes that claims handling is of paramount importance to our clients and we place the highest emphasis on the claims service we provide. Our philosophy is to act as your advocate throughout, and through expertise, dedication and perseverance, achieve favorable claim resolutions whilst minimizing disputes and contention often associated with complex claims. The insurance industry is undergoing a major transformation partly due to disruptions brought in by new technology, changing customer behavior and demographics, and new distribution models. In addition, insurers are grappling with economic uncertainty, low interest rates, global climate catastrophes and rigid local and global regulations. Insurance companies eventually must focus on reducing cost structures, embedding big data analytics and technology for better customer insights and improved business outcomes. Hence, effective claims handling becomes imperative to maintain healthy operating and loss ratios.
Why Outsource Claim ManagementProcessing?
- With market deregulation and escalation in risk because of natural disaster and terrorism looming large, the insurance industry is facing a lot of cost pressure. Any industry with an immediate need for cost cutting is an ideal contender for offshoring.
- If your organization must manage large volumes of insurance claims administration, outsourcing this task will be cost-efficient. Outsourcing insurance claims management provides immediate cost reduction.
To improve the efficiencies of their processes for administration of claims, more and more of leaders in the insurance industry are turning towards outsourcing. The benefits that can avail through outsourcing of insurance claims processing include the following:
- Fraudulent claims management
- Greater customer satisfaction
- Customer service of a high quality despite business volume fluctuation
- Greater accuracy in settlement of claims
- Reduction in operations cost
Overview of our Claim Management Services:
Providing consistent value-added service via our claims servicing team, we are proven specialists in our field and offer the following:
The Hvantage Technologies Advantage:
Our team at Hvantage Technologies is dedicated to adding value by generating savings, improving and increasing your core process capabilities by speedily and seamlessly migrating your processes:
- We provide end-to-end services across the claims value chain for personal and commercial lines of businesses including specialty lines.
- From First Notification of Loss (FNOL) to assessment, claims adjudication, subrogation, reserve management and payments.
- We offer an automated generation and archival process.
- We reduce transaction processing time without compromising on quality and accuracy of transactions
- We provide compliance with state, federal and industry regulated guidelines.
- We offer customized platforms, processes and resources specially designed for your business requirements.
Hvantage exceeds normal standards for quality and business ethics in all we do. Our high-end infrastructure and expertise in the insurance industry enables us to service a global clientele with all their insurance claims processing needs. Our services have been proven to reduce overhead costs, thereby, increasing efficiency, which leads to increased productivity across the board. Efficient and compassionate claims management is necessary for the sustainment of the carrier's book of business. Outsourcing claims administration leaves the carrier more time and resources for business development in addition to other business needs.