stright through processing of insurance claims _rama warrier_air conference 2003
TRANSCRIPT
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Straight Through Processing of ClaimsStraight Through Processing of Claims
RamaRama Warrier & LWarrier & L SreedeviSreedevi
-- mprov ng process e c encymprov ng process e c ency
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AGENDA
Insurance Claims- a snapshot
Solution to boost claim efficiency- STP
What is STP?
Insurance Claims- a snapshot
Solution to boost claim efficiency- STP
What is STP?
STP in Claims AIR conference 2002 2 www.conzulting.in
STP - In Action
Business benefits of STP in Claims
Challenges for STP in Claims Conclusion
STP - In Action
Business benefits of STP in Claims
Challenges for STP in Claims Conclusion
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INSURANCE CLAIMS a snapshot
Strategic importance of claims
Insurance claim settlement is the single most critical process in
the insurance client relationship continuum
Strategic importance of claims
Insurance claim settlement is the single most critical process in
the insurance client relationship continuum
Efficient claims management is critical to customer perceptionand retention.
Multiple players/partners are involved in claim settlement
Direct and indirect costs of wrong or / and late claim
settlement are high Volume of transactions in claims is high
Maximum customer grievances occur during claim settlement
Efficient claims management is critical to customer perceptionand retention.
Multiple players/partners are involved in claim settlement
Direct and indirect costs of wrong or / and late claim
settlement are high Volume of transactions in claims is high
Maximum customer grievances occur during claim settlement
STP in Claims AIR conference 2002 3 www.conzulting.in
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Key issues to be addressed in claims processing
STP in Claims AIR conference 2002 4 www.conzulting.in
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What is STP ?
STP in Claims AIR conference 2002 5 www.conzulting.in
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Solution to address key issues - STP
STP in Claims AIR conference 2002 6 www.conzulting.in
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STP in insurance
STP in Claims AIR conference 2002 7 www.conzulting.in
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STP claims for which it is suitable
STP in Claims AIR conference 2002 8 www.conzulting.in
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As Is process automobile claims
STP in Claims AIR conference 2002 9 www.conzulting.in
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As Is process automobile claims some pain points
STP in Claims AIR conference 2002 10 www.conzulting.in
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As Is process automobile claims
STP in Claims AIR conference 2002 11 www.conzulting.in
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To Be claims process
STP in Claims AIR conference 2002 12 www.conzulting.in
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To Be Claims process - features
STP in Claims AIR conference 2002 13 www.conzulting.in
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Issues addressed by STP
STP in Claims AIR conference 2002 14 www.conzulting.in
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A close-up of Claims Optimisation
STP in Claims AIR conference 2002 15 www.conzulting.in
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As Is : Appointment of Assessor
STP in Claims AIR conference 2002 16 www.conzulting.in
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To Be : Appointment of Assessor
STP in Claims AIR conference 2002 17 www.conzulting.in
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Road Blocks for implementing STP in claims
STP in Claims AIR conference 2002 19 www.conzulting.in
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Two aspects of STP implementation
STP in Claims AIR conference 2002 20 www.conzulting.in
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Conclusion
STP in Claims AIR conference 2002 21 www.conzulting.in
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Thank YouThank You
www.conzulting.in