REDUCE INSURANCE CLAIMS PROCESSING TIME AND IMPROVE CUSTOMER SERVICE
ONE OF THE LARGEST INDUSTRIES
Over the past decade, the insurance market has grown substantially, with the United States having the largest insurance market in the world. In 2020, insurance claims made in the United States reached 1.3 trillion dollars. With the number and value of insurance claims growing substantially each year, information capture, document management, and processing have become more challenging than ever for insurers. As insurance companies and policy holders depend on fast access to critical policy and claim information, optimizing the claim handling process has never been more important.
MORE CLAIMS, MORE CHALLENGES
Insurance companies are faced with more and more challenges to process claims on time while experiencing rising document volumes, labor shortages, and increasing expenses. Insurers commonly receive thousands of claims per day, requiring several employees to manually sort and open thousands of envelopes, then prep documents for scanning. Prep often requires additional steps for staples to be removed, pages oriented correctly, small papers photocopied, and patch sheets created. Documents, like X-rays, need to be handled separately, adding more time to the process.
Outdated, manual, and time-consuming processes require numerous employees to complete intense prep work before moving on to downstream processes, which puts sensitive information at risk and creates bottlenecks that slow down the rest of the claims process. To accelerate claim processing, more than 75% of insurance companies plan to implement a form of automation in the next few years to correct outdated processes.
PROCESS CLAIMS DIRECTLY FROM THE ENVELOPE
Increase your profitability, improve turnaround time, and enhance customer responsiveness by eliminating the time spent on manual document prep and pre-sorting. The OPEX® Falcon+® RED™ document scanner with integrated mail opening and extraction processes documents directly from the envelope, creating high-quality images that improve downstream processing with only one operator. Load mail into the system for fast opening and immediately scan the contents. Scan documents of inter-mixed sizes, weights, and conditions without repair. Feed small documents, like receipts, photos, or prescription slips, directly into the scanner without photocopying. Capture images of X-rays and other 3D objects by connected an external camera to the Falcon+ RED system. Manage high labor costs and improve daily operations for your staff. With the ability to focus more time on other parts of the claims handling process, you’ll be able to deliver fast, high-quality service to your policy holders.
CAPTURE HIGH-QUALITY IMAGES AND METADATA
Speed up the delivery of information and maximize your return on investment with high-quality images and metadata that accelerate turnaround time. Powered by OPEX CertainScan® document scacnning software, the Falcon+ RED enables you to edit images at the level of your choosing in real-time or post-scan. Capture and convert metadata to your required needs with CertainScan Transform™ output conversion software, reducing the need for manual data entry. Easily handle costly downstream exceptions with the ability to make real-time decisions using custom workflows for handling certain document types.
DELIVER ENHANCED CUSTOMER SERVICE
Spend more time working with your clients and less time looking for their information. By automating your insurance claim handling workflows, you’ll be able to improve responsiveness and customer service quality. Integrate the Falcon+ RED with your existing ECM (enterprise content management) or document management software to make information easily accessible and searchable.
FAST AND EFFECTIVE MAIL OPENING
Easily tackle truckloads of incoming mail from your policy holders. OPEX offers a variety of solutions for fast and effective mail processing to help you process claims faster. Handle documents and supplemental claim information quickly with the OPEX Model 72™ envelope opener and contents extractor. Achieving rates of up to 3,600 envelopes opened per hour, the Model 72 is ideal for medium and large-sized insurers who receive thousands of mail pieces per day.
Accelerate your claims handling process even if you’re a small or mid-size insurer. For operations that handle between 200 and 2,000 mail pieces per day, the OPEX OMATION® Series 210 envelope opener and Series 410 envelope opener with sequencing capability are ideal solutions that improve turnaround time. Fit for larger operations, the OMATION Model 306 high-volume mail opener has the capacity to accurately open up to 40,000 mail pieces per hour.
Whether you specialize in healthcare, auto, life, casualty, property, or worker’s compensation, OPEX solutions help lower operating costs, accelerate turnaround, and eliminate document prep by providing cost-effective and efficient document handling.