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Insurance companies set aside numerous efficient resources and considerable amount of time to attract potential customers and get new policyholders every day. Besides, they also invest enormous time and money in accurately managing and processing insurance claims of clients, whom they have been serving for long. It is a well-known fact that insurance carriers will lose a fraction of their book of business at each renewal. With the tremendous growth in the insurance market, customer attrition has become one of the harsh realities of this industry. Opting for an efficient insurance claims management provider will help insurance businesses in minimizing customer attrition.
Often, the manner in which insurance claims are managed can make or break the relationship between the carrier and the client. Having said that, it is crucial to ensure that claims processing goes as smoothly as possible, considering the needs of the clients, but still efficiently by verifying the authenticity of each claim with the help of a dedicated team. Flatworld Solutions is a leading insurance claims processing company based in India which helps insurers successfully retain their existing customers and also attract new ones.
Insurance Back-office Support
Who Will Benefit from Flatworlds Insurance Back-office Support - Flatworld Solutions
Insurance Companies, Agencies, Carriers, and MGAs across US, UK, Canada, and North America have benefitted from Flatworld Solutions’ Insurance BPO services by improving their business bottom line and cutting down on the costs.
Services We Offer
At Flatworld Solutions, we understand the significance of efficient claims processing and hence, provide highly efficient services within a quick turnaround time. We help insurance carriers streamline their processes. Besides, we follow a responsive approach, where our claims management first response unit (FRU) will be assisting our clients, as soon as they approach us. Our key insurance claims management services include -
Series of business-specific data capture fields for First Notice of Loss
Incident definition will be provided to all the persons involved
Correspondence creation and tracking
Claims Case Management
Secure views and access control and object and data levels
Track claim payments to service providers and claimants
Authorization-based processing and ensure secure claim settlement
Reinsurance and coinsurance management
Manual and automatic claims allocation based on business rules
User-related task management with feedback
Network partner tracking
Claims Document Management
Claim document to digital document repository conversion
Marking and digital signature features
Document number creation and allocate to link with claims
Mobile scanner and portal integration for agents
Effective fraud detection from the input data
Indications and alerts for fraud detection
Icons to draw attention to key events such as litigation, possible fraud, fatality, etc.
Risk escalation to assessors
Integrated policy and coverage verification
Fast track claim determination
Decision support process
Investigation and fraud detection features
Claim history review facilities
Claims Cost Containment
Deductible and sums assured control
Payment arrangement creation and tracking
User and vendor management
Organization contact management
Allocating roles and functions
Scorecards and Dashboards based on user's role and function
Easily configurable for additional functions
Industry standard key performance indicators
Monitor performance efficiency
KPI analysis against the targets
Payments and Recovery Support
Automated authority checking, reserve, and limit
Security levels to access the claims management system
Track recoverable from reinsurers
Follow-up of recoveries
Claims Management Reporting
Claims trend ad-hoc reporting tool
Configuration of dashboards and reports to suit your business needs
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Benefits of Hiring Us for insurance Claims Management
Flatworld Solutions has been a leading service provider for insurance claims management in India for over a decade. We have met the claims processing administration needs of insurance carriers worldwide. Our claims processing systems give our clients an edge in this rapidly growing, highly competitive insurance sector. Some of the major benefits, which can be availed by outsourcing insurance claims administration to us include -
Increased Customer Satisfaction
We ensure that our top-quality claims administration services help businesses enhance their customer satisfaction
Trained Insurance Agents
By outsourcing insurance claims processing services to us businesses can get access to our best, well-trained insurance specialists to handle all their requests
We follow a streamlined insurance claims management process. Therefore, when an insured makes a claim, the FRU receives the insured's request and verifies the policyholder's information. The FRU is the backend unit which verifies the claim, coverage under the policy, and conducts background checks. In addition, we have procedures in place to do our bit in preventing the processing of fraudulent claims.
We provide top-quality claims processing services at highly cost-effective rates, thereby helping insurance providers on cutting down on unnecessary overhead costs
We ensure that all the information shared by the insurance companies will remain completely secure by strictly following data security policies
We have access to state-of-the-art infrastructure, which allows us to deliver accurate results quickly
Quick Turnaround Time
We have a track record of providing the efficient insurance claims management services within a quick turnaround time without any compromise on the quality
Outsource Insurance Claims Processing & Management to Us
Flatworld is one of the leading insurance claims management companies in India. We understand the unpredictable and complex nature of the insurance industry. Therefore, we combine our highly evolved claims processing software with skilled and efficient professionals to provide prompt and proficient claims processing services. Hence, partnering with us will help insurers maximize their customer loyalty. We exceed the quality standards for business ethics and offer world-class services.
Our industry-best infrastructure and domain expertise enable us to successfully assist global clientele with all their insurance claims processing needs. Our services reduce overhead costs, and help insurers retain their customers. This type of claims management is necessary to sustain the carrier's book of business. Furthermore, outsourcing claims administration also leaves the carrier more time and resources to focus on business development and cater to other business needs.