Insurance claims process optimisation

We provide a fast and efficient insurance claim process backed by strong fraud prevention, unlocking success for every insurer.

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Speed and efficiency

Providing a fast and efficient insurance claim process backed by strong fraud prevention is critical to success for every insurer. While customer experience depends on how quickly and smoothly a claim is resolved, speed must never increase the risk of fraud – particularly as fraud already costs insurers huge sums every year and fraudsters are becoming more adept at exploiting weaknesses. That’s why ideal insurance claims processes must combine speed and efficiency with ever-tighter security.

Automation

At Charles Taylor, we achieve this goal through an automated end-to-end insurance claims process that ensures superior performance and optimisation across the full claims lifecycle. Notification of loss, triage and handling, verification and fraud management, and settlement can be optimised on a single SaaS platform that draws on the best digital technology available.

Insurers can manage all types of claims on the same platform, both bureau and non-bureau, decrease loss ratios and fast-track genuine claims. As a result, they will reduce the average time to pay customers and ensure that the insurance claims process is a competitive differentiator.

Optimisation in action

The benefits of our claims solution include:

Customer satisfaction and retention
Customer experience is improved because genuine claims can be quickly identified, speeding up the insurance claims process.

Streamlining and cost control
Automation replaces manual processing and improves straight-through processing, reducing admin time and the cost of claims handling.

Better business decisions
Analytics and business intelligence lead to more informed business decisions.

Transparent and compliant
Compliance and responsiveness to regulatory changes are strengthened.

Strong fraud prevention
Combining optimisation with fraud prevention (see below) minimises claims leakage.

Fraud prevention

Combating fraud is a strong component of optimising the insurance claims process. It validates and fast-tracks genuine claims while rooting out fraudulent claims that would damage the bottom line. We use artificial intelligence and machine learning to identify fraud and continually refine fraud detection.

We can also connect to external data sources to gather additional insights to increase protection. Collectively, this is a powerful defence that can strengthen underwriting strategies and help to avoid future fraud.

Key benefits include:

•   Predictive algorithms
•   Cognitive analysis of claims documents
•   Configurable decision model
•   Historical claims analysis
•   Claims rules engine
•   Automatic damage detection
•   Dashboards
•   Relationship analysis
•   Case management
•   Analysis of external data

InHub is our versatile and innovative technology base. It includes our cloud-based SaaS platform and integration framework, which form the foundation for our Insurtech solutions spanning Digital Transformation, Digital Modernisation, London Market, and Managed Services.

InHub is our middle-layer platform specialised in insurance. Designed for seamless integration, InHub is extensible and acts as a unifying layer to integrate modern technologies with legacy systems.

It adopts an API-first approach, providing modern APIs for efficient interoperability between systems. InHub also integrates with customer ecosystems, bridging the gap between new applications and legacy systems, thus facilitating modernisation efforts.

Our InHub store offers ready-to-use standard business solutions such as personal and commercial lines quoting and issuing portals, self-management or after-sales portals for policyholders and partners, pre-integrated payment gateways, and more.

InHub is an invaluable resource for insurers who want the best technology available backed by strategic advice from experts who understand the insurance industry.

Get in Touch

We would love to help you better understand our solution, walk you through the key features and answer any questions you may have.

Please complete the attached form to get in touch with one of our experts.

"We are replacing IT systems that are almost 30 years old. We needed a partner that could help us in implementing standard insurance processes that are generic rather than product specific so that we could use the same approach for all our products. Charles Taylor InsureTech has been this fantastic partner for us and this will help us create new products more quickly."

Ron van Eijk, Program Manager, Dela

"I can certainly say that today we have a partner in Charles Taylor InsureTech that has the expertise and agility to help us in the implementation of our strategic and operational business vision, and has bought into and shares that vision with us."

Jeannette Palacios, Project Manager for Core Change, Sura Seguros

"We were looking for a strategic technology partner to work closely with us in our ongoing plans to modernise the group. Charles Taylor InsureTech has made a clear long-term commitment to building its business in Latin America and has the global reach to support our growth ambitions. Its solutions and capabilities are also highly rated by independent analysts."

Luis Ramos, CIO, Seguros SURA Corporate

"(The Core transformation) wasn’t an easy process to start, but Charles Taylor InsureTech knew how to bring about change in their teams and vision. Today, they are a partner helping us in implementation – with the business vision and agility we need. We want to continue along this vein with all the developments we are seeing in the world of insurance."

Seguros SURA, Core Transformation Project Manager

"Through the new Core, we are integrating different platforms with different fronts so that clients can login and have a good experience. Charles Taylor InsureTech has been a great partner to help achieve this."

Seguros SURA, Core Transformation Project Management Leader