Web Transforms Claims Process
Monday, October 23rd, 2000 TechnologyMost discussions about the Internet and insurance to date have focused on how the Internet can change marketing and distribution channels. Far less attention has been paid to how the Web and new technology can transform the back end of the insurance operation—automating the manual, inefficient process we know today, and bringing about electronic, seamless and ultimately paperless connectivity to the claims continuum. This process can transform the industry's cost structure and give insurers the ammunition with which they can compete much more effectively. The claims management process is primarily manual. Data entry, bill review and routing are often still handled this way. Potentially fraudulent activity, when it is detected at all, is usually spotted by an astute claims adjuster who sees something unusual.
