{"id":14289,"date":"2022-01-20T14:42:07","date_gmt":"2022-01-20T11:42:07","guid":{"rendered":"https:\/\/insly.com\/?p=14289"},"modified":"2022-01-21T11:24:59","modified_gmt":"2022-01-21T08:24:59","slug":"what-tools-to-use-for-efficient-claims-management","status":"publish","type":"post","link":"https:\/\/insly.com\/en\/blog\/what-tools-to-use-for-efficient-claims-management\/","title":{"rendered":"What Tools to Use for Efficient Claims Management"},"content":{"rendered":"
<\/div>

Claims management is an essential and integral part of the insurance workflow. Though, when it comes to development, claims handling and claims management are often not a priority for Insurers, MGAs, and TPAs compared to sales, underwriting, or financial processes.<\/p>\n

Legacy systems also fall short of expectations towards out-of-box solutions and quick roll-out. For agile software, Insurers and MGAs can buy a licence and start using it tomorrow, which is impossible for monolithic systems that require an implementation time of over half a year.<\/p>\n

What tools to use to make claims management more efficient without spending too much resources? To find that out, we had a chat with our Claims Product Manager, Eero Link.<\/p>\n

What is your professional background, and how does that come into play when building claims software at Insly?<\/h2>\n

I started in the insurance industry in 1995. I started as a Claims Handler and I\u2019ve dealt with claims throughout my entire career. Over the years, I became a management board member responsible for claims handling to client services.<\/p>\n

When I started, the systems in use were developed in the beginning or the middle of the \u201980s. Over time, old systems were replaced with newer ones, but this development has been uneven and without a significant impact until today. Can you imagine what it means for an insurance company to replace the IT system fully or even partly? It\u2019s painful. Various departments and areas use all your different systems with connections and relations. It takes a lot of effort, time, and money. Therefore, the change or development is often done partly, which may well be a step towards chaos.<\/p>\n

I\u2019m not saying that the systems must be developed or changed at once. I think this is not possible as it takes a lot of time to implement a new system. But by the time you have implemented it, there is already a new and improved version available. Unless you have a proper foundation for your system(s) together with a clear vision of what, when, and how to develop, you\u2019re not set up for success.\u00a0<\/span><\/p>\n

I have seen the mess in insurance companies\u00a0<\/span>in relation to IT. However, I have also seen some success stories. Today, the overall situation has improved, but it\u2019s far from good. With great confidence and peace of mind, I argue that most Insurers, MGAs, and TPAs struggle with their IT challenges. The leading causes for the struggle are:<\/p>\n