Through Insure3 Claims Castek
Provides Better Business Through Simplicity
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NUCO CLaims eNews - September 2002
Mark O'Brian
In the consideration of claims-processing systems, there is little
simplicity apparent. To the contrary, between first notices and
salvage — factoring in files, phone calls, and faxes —
there appears to be little but complexity. But appearances can
be deceiving. And they may be a product of your claims system.
With a little discipline, the right perspective, the right system,
and a little help from a medieval monk, life — and claims
processing — can be much more simple. A medieval monk?
Simple By Design
William of Ockham was a 14th century Franciscan friar. His principle,
also called the "law of economy" or "law of parsimony",
states that entities are not to be multiplied beyond necessity.
The notion is more simply expressed this way, "'Don't make
things more complicated than you have to." We employed it
in the development of Insure3 Claims.
First, we developed Insure3 Claims for customers,
with customers. To ensure Insure3 Claims meets the
real-life challenges of customer satisfaction and cost-control,
we enlisted the collaboration of two major, multi-line U.S. carriers,
operating nationwide through multiple channels.
Second, we built Insure3 Claims on the same advanced
architecture for which Castek is recognized throughout the industry.
That means Insure3 Claims is open, scalable, flexible,
and easily integrated with existing CRM systems or claims Hubs.
Finally, we made our Insure3 suite of products tightly
integrated yet loosely coupled. That means you can have lower
total cost of ownership by purchasing the suite — or run
any of our modules with your existing or third-party systems.
Simple Application
The insurance industry faces consolidation, reduced earnings,
increased losses, hardening rates, a proliferation of disparate
and competing technologies, expanding distribution channels, and
consumers that grow more sophisticated and skeptical. What’s
simple about that? Nothing … unless we look beyond appearances
— and appeal to our Franciscan monk.
In designing Insure3 Claims, we applied the Principle
of Ockham’s Razor by remembering that:
Processes should not be multiplied beyond necessity. Insure3
Claims provides seamless support for the full claims lifecycle,
from first notice through assignment and adjudication, to settlement
and recovery.
Systems and software should serve your processes, not vice versa.
Insure3 Claims automates workflow processes and recommends
service-provider assignments.
You should rely on systems and software to simplify the processes
for which you are responsible. Insure3 Claims establishes
separate reserves for losses and expenses and tracks them in real-time,
so financials are always up-to-date and at hand.
When two competing systems perform exactly the same processes,
the simpler one is the better. Through our experience in developing
core business processes for insurers, we understand what functionality
insurers can use today to get real savings now.
If, as insurers, you cut through appearances of complexity by
the terms of Ockham’s Razor, you will make better decisions
about your claims systems; you will differentiate your businesses
by delivering improved service through improved processes; and
you will make life easier for your customers and yourselves.
Isn’t that simple?
This article orginally appeared in the September 2002
issue of NUCO Claims eNews.
Reprinted by Permission.