Benefits of a Standardized Business Process
12.14.2022
Setting up a standardized claim process is critical before your business needs grow. For example, FEMA has reportedly logged 44k claims due to flooding from Hurricane Ian alone. The only way for agencies to manage a sudden increase in claims well is through a standardized claim process. Creating a standardized claim process clearly defines the process the claim goes through for both the client and those processing claims. Process standardization establishes a set of rules, or an order of events given to a task or a sequence of tasks.
Businesses that process claims should be acutely aware of the claims process that their clients experience. Streamlining and ordering tasks so adjusters can clearly communicate to clients the sequence of events a claims process takes—bolstering client confidence in the firm's ability to handle their claim timely and consistently.
A standardized claim process can reduce the confusion and mystery of the claim management process through:
Uniformity- Business-driven necessary fields ensure that every claim contains the information each individual business needs to process claims successfully. We know that with each agency, your claims process is unique to your business, and we ensure that your system is set up to require the necessary fields. Successfully capturing all critical claim information during the initial claim entry- ensures that there is no time gap needed while adjusters take time to gather essential information that is missing.
Order- Set up a standardized claim process by way of business automation triggers. With the creation of each claim, merge field letters automatically generate necessary communication and ensure that each customer and vendor receive uniform attention, all while reducing the task burden on adjusters. With a set sequence of events in the claim process, action during the claim process will trigger a task or communication. Ensuring that each claim is given the same attention needed to settle in a timely matter.
Simplicity- With a system equipped with 50+ standard business processes from FNOL to finalized, the claim process can be managed through a streamlined consistent process. Upon creation, each claim file generates standard information menu options such as notes, diaries, loss details, as well as reserves. Reminders and notices are also generated when tasks are overdue, ensuring that adjusters, managers, and claimants stay informed. A standardized process is built within the claim, with specific tasks triggering notices and further tasks.
A set sequential claim process not only ensures that the claim process is standard throughout the business, but by automation and trigger tasks, the burden of ensuring the claim process is given due diligence, the system automatically reduces the workload on the adjuster and claim manager.
Security- Software databases with increased activity and access points pose an increased security risk. A secure database, as an essential part of the claims process, ensures that the business is not interrupted by cyber-attacks. With cybercrime on the rise, a SOC-compliant system utilizes data security and ensures that the increased task load does not compromise sensitive data and disrupt the claims process.
If you are interested in setting up a standardized claim process and ensuring that all claims receive the necessary attention to capture customer value and confidence, talk to someone from our team today.
