Powerful, Accurate Real-Time Claims Data

In insurance, information is key, and being able to harness accurate information, fast, is the ultimate aim that may seem unattainable. However, this is precisely what Rightpath Insurance Solutions has delivered, with one travel insurer employing real-time policy data at claim setup for 70% of their claims online as a result of direct API integration for claims.

Missing or inaccurate information can derail a claim from the very start, leading to many unnecessary handler touch-points and extreme frustration for the claimant. This need not be the case, when policy information can be harnessed directly from the insurer’s own systems via secure connection, instantly, for claims accuracy and reduced journey times.

Furthermore, when accompanied by accurate, real-time reporting, up-to-the-minute scheme health observations can be made in an instant, providing timely opportunities for scheme protection and improvement as required.

The Challenge
Accurate scheme performance data is dependent upon accurate claims data. But when claims and sales/distribution systems are often organisations, as well as systems, apart, accuracy is nearly impossible to attain. Customers often don’t fully recognise the policy they hold, and frequently make mistakes. Incorrect policy attribution can draw out a claim to multiple times its natural lifecycle.

The net result, frustrated customers seeking their next insurance policy elsewhere.

To solve this challenge, Rightpath Insurance Solutions’ innovative data stack is the answer for insurers seeking to lead the way in accurate data synergy and pro-active scheme management.

Claim Setup: Accurate Claim Attribution with Policy Data Integration
To help ensure instant unification of policy and claim data across systems, on request, Rightpath delivers direct, secure connectivity (via API) between clients’ scheme administration systems and Rightpath’s own powerful claims platform, ATICS.

This provides a seamless connection, instantly attaching the claim to the precise customer policy, for both online and offline journeys. Furthermore, via this method. policy association and associated detail can be imported in real-time, and policy information becomes right first time, every time.

Additional Benefits:

• For the customer, when policy information is pre-loaded. significant portions of claim setup can be skipped because the correct individual policy information is already entered into the claims journey, direct from their insurer.
• By return, the insurer is notified of the claim instantly once the claim is created by the claimant from their browser. Just one way in which Rightpath’s claims solution is enhanced to offer valuable real-time data insights.

Claims Reporting: Accurate Scheme Performance MI in Real-Time
With Rightpath, the accurate scheme performance data can be reported on in aggregate and made available to underwriters and insurers with data served in real-time. This makes complex and time-consuming collation of separate datasets or wait times for pre-scheduled reporting obsolete.

Additional Benefits:

• Optional, secure client dashboards provide access to rich, up-to-the-minute scheme performance data around the clock. Information is presented in easy to understand tables and dashboard formats, depending on the insurer’s preferences.
• Report templates can also be configured to the insurer’s specification, with up-to-date copies downloadable from the client portal at any time.
• Accurate, live data delivers the ability for insurers to react to events or trends affecting scheme performance as they occur. This is a significant advantage that can guide both informed and timely decision-making for scheme protection or improvement, where otherwise, key opportunities to take remedial action are frequently missed.

Conclusion:
Real-time data integration for claim setup also improves customer service by streamlining claims processing. Real-time claims data, whether aggregated or at the policy level, is crucial for insurers as it enhances decision-making and improves risk assessment. It allows for immediate insights into claim trends, facilitating prompt adjustments to underwriting practices and pricing models. Despite its clear benefits, we believe the real-time data capabilities provided by Rightpath remain unique due to the complexities of integrating disparate data sources and legacy systems, making it a competitive advantage for insurers who choose Rightpath as their scheme administration partner.

Rapid Onboarding Solution
Rightpath recognises that switching claims administration provider can be a daunting and time consuming step for many insurers. That is why we created our Rapid Onboarding Guide, designed to streamline the due diligence and onboarding process so that insurers can transition to Rightpath with minimal effort. For your copy, or to find out more, contact us today.

To find out more about data-led, added value and cost efficient claims administration services from Rightpath Insurance Solutions, contact us today on: 01268 214096, or email us at marketing@rpisolutions.com.