Claims Management Software-as-a-Service (SaaS) Taking Technology to the Next Level

Scroll to:

Business technology is rapidly changing. The latest change in software delivery, Software as a Service (SaaS) has made a big splash on the scene for companies and insurers offering them cloud computing infrastructure, and a modern claims system.

Main Goals

One of the main goals for claim professionals is to manage claims at a low cost. With rewards such as reaping huge financial and operational gains the SaaS model equips the claims department with not just a software company providing a system, but an innovative IT department that equips each client with experienced industry professionals, and strategic thinking skills.

Why SaaS is Important to Claims Management

The software-as-a-service model for your claims management software takes your technology options to a new level. So why has the SaaS model quickly become the most ideal way to roll out new technology?

  • The vendor works on an ongoing basis for the client. The idea is to relieve the IT department of system maintenance. All upgrades should be automatically released as they are produced to give you the latest and greatest system at all times without additional fees. Have a new employee or need additional training? The SaaS model provides ongoing training at any point as a client.
  • Less-risky investment. The SaaS model results in the software being more cost-effective, high in quality, and low in risk. An affordable monthly fee makes the monetary risk lower and less scary without taking away from the high quality and superior service.
  • Scalability. As a business grows you want to make sure your claims management system grows with it. Being able to scale up or down to meet client demands is vital to insurers. The scalability also offers a wide variety of customization capabilities. The SaaS model gives the users an outbox functionality.  
  • Increasing your employee productivity. A SaaS claims system provides cross-channel access all departments are able to pull information submitted by support teams, through data entry, etc.  Employees are also offered help desk capabilities for troubleshooting and training on all updates.

Improving Companies with Cloud Technology

As CIOs move away from home-grown in-house systems, and further into a 21st-century technology direction of cloud-based systems, vendors will see a jump in companies outsourcing their IT departments. A claims system with a Software-as-a-Service (SaaS) model often affords insurers functionality, and the option to update workflows and processes to provide a streamlined approach to claims management.