Improve Productivity and Manage Growth with Modernized Claims Processing
Claims processing is a critical part of a carrier's business, and the most visible touch point with their customers. Many carriers have bloated, manual, error prone, time-consuming, black-box claims processes trapped in legacy systems built decades ago. These environments do not lend themselves to today’s demands for rapid response, real-time visibility, and agility. Modernizing claims with TIBCO automates the claims process from end to end, while interfacing with existing legacy assets across lines of business, and even with external partners.
For example, a Property and Casualty (P&C) carrier can institute on-the-fly workload balancing to ensure consistent service levels when catastrophes such as Hurricane Katrina occur. A Life insurer's customers, agents, and customer service representatives all view the same up-to-the-minute customer data, because customer service, billing, policy, and claims are linked in real time. And an insurer can react to market trends by quickly offering 24x7 online self service or accident-reporting mobile phone applications.
TIBCO's business process management (BPM) technology provides an independent layer that models, automates, and executes the claims process while allowing manual review and approval steps. Processes can be quickly changed and provide complete visibility at every step. TIBCO's real-time infrastructure handles the messages and integration between an insurer's systems and with external partner's systems, also enabling real-time updates of all systems.