Claims management firms have long used data, alongside continuing to embrace technology, to drive operational improvements. Charlotte Harrison, senior business development manager at Gallagher Bassett, shares how data can be used to achieve good customer outcomes
Data is essential to driving impactful claim solutions because it helps to identify opportunities, design solutions, execute and integrate those solutions at the highest levels and confirms the resultant impact on claim outcomes.
Reinventing the approach to quality
When it comes to claims quality, the most standard industry approach is to conduct open and close end audits on claims files.
Although valuable information is derived from this long-standing process, it has several flaws when an organisation is scaling rapidly and wants to drive performance swiftly. For example, not all auditors will interpret the facts of the claim the same way, which can create confusing results.
Plus, auditors are often limited in frequency, which can make it difficult to understand and identify data trends.
It is important to focus on delivering specific, measurable, achievable, relevant and timely measurements to improve the claim’s outcome.
Utilising technology to reduce insurance fraud
Technology provides tremendous help in identifying and investigating claims fraud.
Beyond traditional approaches, such as identifying claims that may be related to previous injuries, the power of data analytics allows you to knit together thousands of variables to identify patterns that indicate heightened risk of fraud from claimants.
Technology also assists in the investigation of potential fraud, such as the use of video capture or social media investigations to confirm injury claims.
These enhancements allow you to deter, identify, investigate and pursue fraud, ensuring that those entitled to coverage and compensation have a vibrant insurance industry to count on.
Marrying science and real-world experiences
At their core, claims are a deeply personal experience which require sincere, caring and professional interactions.
We are not simply ‘administering claims’ - we are restoring lives, protecting brands and resolving disputes on behalf of clients. Having this mentality as part of your firm’s DNA will inform everything that you do - from hiring, to training and any further developments you make in technology and innovation.
It is best to view data, technology and innovation as ways to enhance the claims experience and personal touch, not to disintermediate it.
If we remove an administrative task from a claims professional, that creates more time for them to speak with a claimant. If a claimant can check on the status of their indemnity payment through a mobile app, that allows more time for a claims professional to engage with and update clients on the progress of claims.
By providing analytical tools to help claims handlers identify opportunities in their portfolio, they then have more time for robust claim strategy discussions that benefit both claimants and the insurer’s total cost of risk.
