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Claims is a high-volume environment where effective business process management is essential. Chordiant Claims Management is a process and rules driven solution that enables carriers to reduce the premium dollars spent on claims related costs by improving claims processing efficiency. The Chordiant Claims Management solution orchestrates and streamlines the full claims lifecycle from first notice of loss across multiple channels through recovery, settlement and analysis in the back office service centers.
Chordiant Claims Management software manages the routing of claims and streamlines work tasks for all parties involved in the claims process including customer service representatives in the contact center, claims adjusters, subrogation specialists, agents and brokers, repair shops and third party claimants. In addition, the solution provides a process-driven, browser-based desktop to automate manual tasks and provide unified access to policyholder data and all claims related information, reports and status.
By orchestrating and streamlining the end-to-end process while leveraging core back-office claims systems, the Chordiant Claims Management solution speeds claims resolution times and improves decisions to minimize risk while reducing administration and settlement costs by 20-30%. Operational benefits include:
Speed Initial Claim Reporting
- Screen flow, prompts and scripts dynamically adapt to guide customer service representative efficiently through the capture of essential information
- Easily initiate emergency services, repair services and adjuster appointments from unified desktop for one-stop first notice of loss servicing
- Unified, real-time policyholder view including transaction and service interaction history enables quick verification of coverage during initial reporting
- Supports seamless reporting of claims across multiple channels to maximize consistency and policyholder satisfaction rates
Improve Adjuster Productivity
- Automated routing of claims to the appropriate adjuster based on skills, location, type of claim and workload
- Automated monitoring of active and deferred claims with proactive escalation based on carrier rules to ensure SLA compliance
- Best practices, rules and regulations are embedded in the process to automate and track review, recovery, subrogation and settlement activities and decisions
- Core claims and document management systems are directly integrated into the process to reduce screen navigation and provide fast access to death certificates and police, fire, proof of loss reports
Increase Revenue Opportunities
- Service center representatives prompted to relevant cross-sell offers during claim reporting interactions
- Automated prompting and advisory for relevant investment products improves reinvestment rates of death event proceeds
Improve Decision Making and Minimize Exposure to Risk
- Comprehensive decisioning and reporting capabilities provide analysis of losses, case loads and settlement costs to improve reserve accuracy and operational performance
- Automates complex decisions and subjective determinations to utilize external services such as medical exams
- Automatically directs adjusters to preferred vendors based on centralized performance factors to facilitate volume pricing
Chordiant Insurance Solution Customers
Examples of our Insurance Solution customers include:
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The SIGNAL IDUNA Group is one of Germany's largest all-round financial groups. The SIGNAL IDUNA Group offers all forms of coverage and financial products from a single source, combined in a single corporation. It holds an outstanding position among the ten largest German insurance groups, and is very strong in both its capitalization and its financial resources.
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21st Century Insurance is the seventh largest personal auto insurance company in California and insures over 1.2 million automobiles. 21st Century Insurance The Group had $965.3 million in net premiums written, $981.3 million in revenues, and assets totaling $1.5 billion at year end 2002.
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If you require additional information on the Chordiant Claims Management Solution, please call 1-888-CHORDIANT or contact your local Chordiant Office.
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