Life Insurance Claims Processing

Claims processing software helps life insurers properly adjudicate claims

Hard-to-find original life insurance policy information makes processing a death claim difficult for insurers. To adjudicate a claim properly, examiners must have access to all of the information pertaining to the incident.

OnBase improves life insurance claims processing by storing information in one central location. Then, business-process management tools like workflow automate tasks such as verifying coverage and tracking missing or required information. Because OnBase easily integrates with claims handling systems, as well as homegrown AS400 mainframe systems, examiners access documents and data from within one single interface.

Optimize life insurance claims processing solutions with case management

For more complex claims product lines, such as short- and long-term disability, cancer, accident and so on, the OnBase Case Management Solution allows insurers to dynamically interact with the claims process, handling even non-linear aspects of claims processing. Insurers create tasks on the fly, monitor items that are “Not in Good Order,” and access pend/diary items that need further review.

Dynamic results for OnBase life insurance customers

Insurers who use the case management solution can reduce costs, improve time to decision and reduce claims leakage. Benefits we’ve seen include:

  • Insurance customers that have deployed both workflow and case management have found that, in many cases, automating only one life insurance claims processing step could save up to 30 minutes of work.
  • Some customers managing the First Notice of Loss process in OnBase have resolved new claims within 24 hours – a process that once took days.