Claims Management
A unified claims solution to plug leakage and improve turnaround time
Claims processing can pose major headaches for insurance companies. One big problem is claims leakages, which can cause big losses and punch a hole in the bottomline. The other problem is the high costs and long timelines to process claims/ payouts. A unified claims management system can solve these problems.
Mastek Elixir Claims Component has been designed to address these specific issues. Its 'one-system' design -- with sophisticated business rules, automation tools, and workflow management systems – is capable of servicing every product line. What's more, leakage is reduced to the bare minimum. The result is that you have a unified claims management system that helps you make huge savings in claims and payouts.
The Elixir Claims Component raises the bar by offering a truly browser-based, one-system solution for claims management, bill review, policy underwriting, case management, billing and events management.
Here are some of the key benefits of the Elixir unified claims management system:
- Reduction in claim turnaround time
- Lower claims leakage
- Improvement in the combined ratio
- Reduction in claim processing costs
- Significantly lower maintenance costs because of the unified claims engine
Claims Express: Reducing claims processing time by 50%
The customer, a large Fortune 1000 company, is a leading financial services provider to credit unions and their members worldwide.
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