(Image source: Doculabs website.)
Doculabs, a Chicago-based strategic consulting firm specializing in process and information management, has announced the release of its Claims Execution Management Solution. The Solution organizes and presents data from Celonis’ (Munich) process mining tool, providing insights into an organization’s current processes and revealing opportunities for improvement.
The new solution addresses many insurers’ struggle to make significant improvements to their claims process because they can’t identify execution gaps and sources of friction in their processes, according to a Doculabs statement on the launch. In the absence of a clear diagnosis, the insurers then have trouble implementing and monitoring the best course of action for each gap in execution, according to the vendor. In addition to its effect on productivity, the friction also negatively impact the customer experience, which can drive churn.
The Claims Execution Management Solution enables carriers identify execution gaps, such as underdelivering on customer needs, overpayment, and assignment to the wrong adjusters, according to Doculabs. The tool then helps executives and claims managers identify improvements, implement them, and monitor claims process execution against value metrics.
The Solution will support the following results as described by the vendor:
- Improve customer satisfaction, retention, and upsell
- Reduce inefficiencies caused by staffing and resource issues, including allocation and training
- Reduce rework, redundant processing, and reopened claims
- Reduce claims overpayment and loss adjustment expense
- Reduce long cycle times and NIGO quality issues due to lack of standardization, digitization, and automation
“Every insurance company right now is facing an imperative to provide a better customer experience during a claim process while keeping operating costs low,” comments Marty Pavlik, Practice Leader, Doculabs. “Our Claims Execution Management Solution is a quantum step forward in how Doculabs and Celonis can impact the customer experience through the creation of a frictionless claims process.”
Natively built on the Celonis platform, Doculabs’ Claims Execution Management Solution provides executives and claims managers an end-to-end application for improving the claims process efficiency and effectiveness, according to the vendor.
“This new app delivers on the promise of process mining via an easily understood interface that will help Celonis customers make sense of the immense amounts of data process mining uncovers. And once they understand their data, they can then use it as the basis for action,” comments Alexander Rinke, CEO, Celonis.