As Thanksgiving approaches and you prepare to spend quality time with your family and friends, we thought it would a good time to review the technology advancements you can be thankful for in work, and in everyday life!
One of the biggest technology advances in business today is cloud technology. In fact, 88% of businesses now use cloud technology in one way or another. You may not use it for your core business applications, but consider your email account. Can you access your email account on any device with an internet connection? Your emails are stored in a secure cloud environment allowing you to access them using your personal identification username and password. Two level authentication can also be used in some instances to enhance security.
Automation is one of the big time-savers in claim processing activities. Claims automation reduces data duplication, the need for manual tasks, and reduces paperwork.
File-sharing platforms are a relatively new initiative used in the workplace. These platforms allow multiple people to edit and share a document online. Google Docs is a good example of this, where colleagues can collaborate on a document. Each person can edit as they see fit, and suggest changes they would like to see. This platform can also be used to share pieces of content while restricting editing privileges. Dropbox is another great tool for sharing files with colleagues.
Mobile applications are available in abundance for all types of businesses, including claims processing. There are various ways claims can be initiated these days, through call centres, phone calls to management, mobile applications, or using online forms. These mobile platforms, also known as portals, are changing traditional communication channels. Employees can use the portal to initiate a claim while supervisors, when on the go, can use the portal to review employees out on leave.
Since claim systems have become more integrated, the analysis of this data provides employers with various opportunities as outlined in this previous blog posts. Fraud detection is one of the most popular uses of data analytics for insurers. High-risk claims can be flagged using pre-determined factors to assign claim scores. This ensures the review of high-risk claims before processing, so the rate of fraud detection is reduced.
The combination of cloud technology, mobile platforms and heightened security measures allow employees to work remotely more than ever before. In fact, 30% of CIO’s surveyed stated that this was one of the key benefits of cloud technology.
These are only a few hand picked technology advancements which have helped improve claim processing capabilities. Are there other technological advancements you think have had a bigger impact on your claim processing?