For the past decade or so, insurance companies—like many other industries—have turned to IBM FileNet as a core enterprise content management (ECM) system and to help digitize insurance claims processes. FileNet Content Manager can provide companies with a solution for managing and sharing documentation used during the insurance claim process, letting employees access shared documents, add recommendations to the files, and resolve claims.
That said, when used in isolation, content manager software alone may leave efficiency gaps when managing claims processes in a secure, timely manner. With a slew of different document sources and formats, insurers must be able to quickly access, read, and flag documents to streamline reviews and client exchanges. This warrants the use of advanced tools that can help enhance your content manager software.
In this blog, we'll look at how insurance companies can best leverage FileNet to streamline the insurance claims process by integrating the appropriate, high-performance software to overcome any barriers throughout the insurance claims lifecycle.
The Problem With Processing Information in the Traditional Way
Insurance claims processes rely on access to information. Assessors and their partners need to access everything from witness statements to claimant identification documents with minimal delay or processing. While this may seem a simple challenge, the reality of the insurance sector is somewhat more complex.
Too many formats
Not only are assessors entrusted with many files, photographs, and reports to study, but these documents can come in various formats. A typical assessment might include everything from high-resolution photographs delivered as TIFF files to lengthy PDF contracts. Depending on the type of claim, assessors might even need to access complex CAD drawings or files from legacy office programs.
Compliance and security barriers
Not to mention, these files often contain personally identifiable information (PII) or sensitive data. Effectively evaluating and processing these files while meeting strict compliance regulations can be time-consuming and error-prone if done manually. Plus, claims assessors must be able to justify all decisions made, meaning all actions and their triggers must be contained in detailed and compliant audit trails.
Assessors rarely work on claims in complete isolation. They must collaborate with many people during a claims process, including witnesses, investigators, repair teams, and the claimant. This is in addition to internal experts and team members at different branches.
Being able to safely, securely, and quickly collaborate on documents with a diverse array of third parties can be challenging when using conventional document-sharing systems, such as email. Even if the third party can open the file, collaborating in real-time with these stakeholders can be challenging when they are not part of the assessor's organization. This fragmented process often causes delays and errors.
Furthermore, many insurance companies still rely on old systems that make editing large or unwieldy files difficult. This can make it hard to track changes or see the most up-to-date document version.
According to an article from EY, "speed, efficiency and transparency are the most important characteristics of a quality claims experience". To provide the best possible customer experience, organizations need to find tools to help streamline claims processing and reduce customer response times.
Using IBM FileNet To Streamline Claims Processing
The specifics of insurance claims can vary significantly from one case to the next. This variability can require case workers to start discretionary processes, involve new roles, and change how and when tasks are completed as the claim is routed through the organization. IBM Case Manager helps associate data about a specific claim and the submitter with the supporting documentation as it is submitted, providing a more efficient, automated way to manage tasks and content.
When customer information arrives, the case management system can be configured to route it to the appropriate department or system automatically. This helps to ensure that the data is processed correctly and reduces the likelihood of error.
Furthermore, content management systems act as a repository to help federate information to easily access content stored within FileNet. But what about complex file formats and documents stored within other source systems and applications? Insurers need fast, easy access to files without the pain of having to download and open each document individually. By enhancing your FileNet content management system or case management system with a web-based content viewing solution, insurance companies will have the complete toolset needed to offer the best possible claims management experience.
Going a Step Further with Web-Base Content Viewing
Web-based content viewer technology allows users to securely view, manage, and collaborate on any document format, from any source system, in a matter of seconds. High-speed content viewers like ARender sit on top of ECM systems viewers to enhance the document management and viewing experience for various business processes. Insurance claims processing is no exception.
Integrating a web-based content viewer software on top of your ECM system lets you transform various forms, loans, and portfolio information into actionable data for more efficient insurance claims, invoices, and loan processing for insurance organizations
Real-time Information Access
Perhaps the most valuable benefit a web-based document viewer delivers is the ability to provide fast, secure access to any information in real-time.
Claims assessors can easily access documents, whether the user is sitting in the head office on a powerful desktop or working from home on a laptop or tablet. In addition, web-based content viewers like ARender allow users to view and work on over 300 file types, including PDF, TIFF, MS Office, and even engineering drawings, without needing specialized software or hardware.
A document viewer can alleviate some of the pain and delay associated with handling the vast array of documents needed for a successful claims review process without any installation or bulky downloads.
To streamline the insurance claims process, it is essential to be able to quickly and easily collaborate on documents. Because a web-based document viewer handles all interaction through a standard web browser, it's simple to invite third parties, such as experts and claimants, to collaborate on documents without fielding IT support questions and without sacrificing the integrity of the underlying file.
Having every user open the same file, regardless of where they are based, makes it easy to stay on top of version control. There's no need to try and reconcile several versions of the same document, all with differing comments and corrections.
Built-in Security and Compliance
In an increasingly stringent and tightly-regulated industry, ensuring ongoing compliance and complete auditing can be a laborious process with conventional document management systems. However, web-based document viewer solutions like ARender provide multiple levels of security and allow for integrated compliance management. From full audit trails to automated redaction features, every action is carefully controlled — and as an added layer of protection, any changes or updates will not modify the underlying documents or files.
ARender For Insurance
In a landscape where customer service is increasingly valued, insurance organizations need solutions that offer the most timely and personalized service and customer engagement possible. ARender's solution for IBM FileNet integrates seamlessly with IBM Content Manager and Case Manager to provide a more complete solution to ensure a more streamlined claims management process, from gathering customer information to processing claims.
While managing insurance claims will always be a complex and highly-regulated process, insurers shouldn't settle for inadequate document management—especially when other avenues are available. A complete solution that includes high-performing content viewing software and a standard ECM solution like IBM FileNet can help decrease response times, simplify risk management and ultimately increase claimant customer satisfaction.