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Moving to a new claims management software is no easy task, and at times can seem complex and confusing to the user on where to start. With the increase of claims system providers, researchers looking to narrow down their options list have several software reviews to browse when making an informed decision. Pay attention to these features while browsing insurance claims system reviews.

The efficiency of Claims Management

A very good claim system properly manages the claim process starting from FNOL to final settlement. This includes organizing all file activity and correspondences and maintaining each report to ensure claims professionals have all the needed information to make the right decision. Claims systems should provide an improved and productive workflow that gives adjusters the tools to handle claims efficiently and accurately. The claim department’s goals are to provide excellent customer service and enhance the company’s overall performance. A comprehensive claims management system will provide efficiency to manage risks effectively and settle claims faster.

Easily Documenting and Maintaining File Activity

As talked about in the efficiency of a claim system, an organized filing system is a major part of keeping a backup of all data for future reference. The scenario that takes place from first notice of loss (FNOL) to claim assessment and processing should be fully documented and properly maintained in the software’s document depository.

System Security and Confidentiality

Claims information should always be kept secure and safe with the use of multi-level access passwords and encrypted data. All users should be given unique ids and passwords. No plain text version of any password should exist. If the claims management software gives users the option to reset a password while viewing an old password, that is an immediate red flag for an unsecured system. Data to and from the user should always be encrypted using standard SSL encryption to guarantee a secured network. Additionally, user access rights, authority levels, and hierarchy relationships with management for over-the-limit approvals are a necessity.

Claims Software Integration

Incorporating other software products like Microsoft Excel and Outlook helps to assist with the management of claims data. These new capabilities will give options to export/transfer claims data, and handle each claim quickly, more efficiently, and can automate the process. An automated process is the most ideal setup for a claims management system and reduces any chance of error. Working with an integrated system provides ease in just a few clicks to manage claims, eligibility, benefits, reports, and notes with the most up-to-date system.

As you embark on finding the most optimal claims management software, make sure a clear idea of what is needed to successfully manage all claims has been established. Have a common end goal of providing quality customer service and improving employee productivity.  These items will help insurers and risk managers enhance their service and give them a competitive edge over other companies.

How do you create your claim system provider shortlist?