Your profitability is influenced by claims payments and LAEs. Your ability to assess and process claims — and to mitigate loss — quickly and accurately can positively impact your bottom line. That’s why it’s important for insurance agencies to shorten processing times. Adjudicating claims quickly, efficiently, and accurately leads to cost savings for both you and your policyholders.
And even if you have a policy management system, by integrating DocFinity with all line of business applications, you can create a more comprehensive policyholder record. And by adding workflow processes around this information, you can automate the claims process for straight-forward claims while focusing on the exceptions, including red flags for fraudulent activity.
Standardize processes from FNOL through complete
Automate FNOL capture.
Allow self service for policyholders, adjusters and agents.
Allow straight-through processing of first-pass claims.
Provide secure access to files and data, when and where
Deliver business intelligence to management for any claim
at any time.
You can expedite processing even more with self-service options that enable agents, adjusters, policyholders, and other parties to claims to update information and check their status online. By improving their experience, you’ll improve your retention. And DocFinity’s automated signature tools, email management capabilities, and reporting tools further reduce turnaround times and help ease compliance efforts, financial exams, and audits.
Adjudicating claims quickly, efficiently, and accurately leads to cost savings by all parties involved, as well as satisfied policyholders. DocFinity’s ability to locate data quickly in disparate line-of-business applications – and to put all the pieces together – can save time and money otherwise lost to delays and/or continuing or worsening damage.
Decisions are made more quickly, keeping claim amounts from increasing unnecessarily, enabling insurers to expedite settlements, keeping claimants informed and happy.
Documents fulfilling the checklist and matching predefined acceptable rules flow through the following steps.
Documents are captured, indexed, and stored. A claims workflow is triggered based off of a specific metadata value.
DocFinity holds files in checklists and compares metadata values with predefined rules.
Exceptions, or documents not matching predefined rules, are pulled for a closer look by staff.
The system can trigger a letter and check issuing process when the job completes.
DocFinity stores the claim and associated files according to the pre-set retention rules.
A custodian is notified when claims are to be disposed of.
If your policy system automates part or all of your process, DocFinity can still be the comprehensive repository for all of your claim and policy documents. DocFinity enables more ways for policyholders, agents, and adjusters to get their information and images into the system.
Checklists ensure that claims are processed only when all needed information is received, and reminder notifications are sent automatically when checklists are awaiting fulfillment.
As your claims processors work within their familiar policy administration system, a simple click will display a hitlist of the documents associated with the claim stored within DocFinity for review. They will see only the files and information they're authorized to view, keeping sensitive information safe and secure.
Standardize processes from FNOL
Automate FNOL capture.
Allow self service for policyholders,
adjusters and agents.
Allow straight-through processing of
Provide secure access to files and data,
when and where needed.
Deliver business intelligence to
management for any claimat any time.