Doculabs, a strategic consulting firm specializing in process and information management, today announced the release of its Claims Execution Management Solution, powered by the Celonis Execution Management System. The solution organizes and presents data, provides insights into an organization’s current processes, and reveals opportunities for improvement. Optimizing the insurance claims process is critical for controlling operating costs, increasing working capital, as well as improving customer satisfaction and retention.
But many insurance companies struggle to make significant improvements to their claims process because they can’t clearly determine the execution gaps and root causes of the “friction” in their processes. They then have trouble implementing and monitoring the best course of action for each gap in execution.
That friction isn’t just a drag on productivity; it affects customers. Customers in the claims process are already under stress experiencing frustration that they need to find a new car; worry about paying a medical bill – and a poor claims experience can send customers to another provider. In fact, Forrester research has shown that 30% of customers who have a poor claims experience find another provider.
“Every insurance company right now is facing an imperative — to provide a better customer experience during a claim process while keeping operating costs low,” said Marty Pavlik, Practice Leader, Doculabs. “Our Claims Execution Management Solution is a quantum step forward in how Doculabs and Celonis can impact the customer experience through the creation of a frictionless claims process.”
Claims Handling Execution Application Identifies Execution Gaps and Takes Action to Mitigate Risks
Doculabs’ Claims Execution Management Solution addresses these challenges. It is a process optimization solution for claims organizations, natively built on the Celonis Execution Management System platform. The solution provides executives and claims managers an end-to-end solution for improving the claims process efficiency and effectiveness.
Vince Barrett, VP, Partner Management for North America, says, “This new solution delivers on the promise of execution management through an easily understood instrument that will help Celonis customers measure and improve their claims process efficiency and effectiveness. Once they know which execution gaps have the highest impact, they can use it as the basis for action and ongoing monitoring”
The Claims Execution Management Solution is used to identify execution gaps, such as underdelivering on customer needs, overpayment, and assignment to the wrong adjusters. The tool then helps executives and claims managers identify improvements, implement them, and monitor claims process execution against value metrics.
The Solution will:
1. Improve customer satisfaction, retention, and upsell
2. Reduce inefficiencies caused by staffing and resource issues, including allocation and training
3. Reduce rework, redundant processing, and reopened claims
4. Reduce claims overpayment and loss adjustment expense
5. Reduce long cycle times and NIGO quality issues due to lack of standardization, digitization, and automation