Glossary

Claim Automation

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Agile Development AIOps Analytics Platform API Integration API Management Application Modernization Artificial Intelligence Augmented Reality
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Banking as a Platform Banking as a Service Big Data Business Analytics
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Claim Automation Claims Management Clinical Research Clinical Software Cloud Advisory Cloud Deployment Cloud Infrastructure Cloud Migration Cloud Native Development Cloud Security Cloud Strategy Cloud-native Security Core Banking Corporate Banking Customer Data Platform (CDP) Customer Experience Customer Experience Journey Customer Experience Strategy Customer Intelligence CX Strategy Cyber Resilience Cybersecurity
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Data Analytics Data Center Modernization Data Integration Data Lake Data Security Data Transformation Denial Management DevSecOps Digital Banking Digital Commerce Digital Engineering Digital Experience Platform Digital Front Door Digital Health Platform Digital Insurance Digital Lab Digital Mosaic Digital Payments Digital Platform Digital Transformation Digital Wealth Management
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Edge Computing Enterprise Integration Enterprise Security Experience Transformation
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Healthcare Payor Healthcare Technology
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Identity Access Management Intelligent Automation
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Legacy Application Modernization Life Sciences Technology Loan Origination
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Machine Learning Medical Devices Microservices Mobile Edge Cloud Monetizing 5G
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Network API Network Assurance Network Performance Network Transformation No-code/ Low code Application Development
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Process Mining and Process Excellence Product Engineering Product Sustenance Public Cloud
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Ransomware Retail Banking
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Software Application Development Software Development Software Engineering Software Modernization Software Product Development Software Product Modernization

What is Claim Automation?

The first step in automating insurance claims is using data extraction technology to examine and analyze claim-related documents. Insurance companies expedite claim resolutions by sending information via email and other internet channels.

A digital claim is a mode customers use to reach an insurer in the least possible time when insurance is most needed.

Claim automation can improve the efficiency of all insurance processes, including marketing, renewals, and sales. One of the most widely utilized tools in insurance automation is RPA (Robotic Process Automation).

RPA can assist insurers in developing a responsive, high-growth business while keeping costs low. RPA performs repetitive administrative tasks based on rules and does not require decision-making or planning.

What are the business benefits of Claim Automation?

  • Claim automation software improves operational efficiency by reducing turnaround time in the insurance claim process.

  • Claim automation process is transparent as it leaves an audit trail behind it, i.e., the enhanced audit process.

  • It improves cost-efficiency as there is no use of physical resources for data extraction and physical form filling due to automation.

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