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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. 

    Through InHub, insurers can access a wide variety of technologies to digitalise their businesses, optimise their operations end-to-end, and create exceptional digital experiences for their customers.

    Built by insurance and technology specialists, InHub is a marketplace where insurers can select the solutions that best fit their business requirements. Whether you need a total outsourced solution to transform your organisation, selective upgrades, or progressive modernisation to blend legacy systems with new systems, InHub will provide all the answers.

    Our InHub marketplace 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 solves insurance problems and is an invaluable resource for insurers who want the best technology available backed by strategic advice from experts who understand the challenges and opportunities facing 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.

     

     

    "The deep insurance market knowledge of the Charles Taylor InsureTech team combined with their tireless commitment to excellence in delivery made them a great choice of partner."

    COO, Insurance Broker


    "We were looking for a strategic technology partner to work closely with us in our ongoing plans to modernise the group. 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