How Does One Choose A Claims Software Vendor?
How Does One Choose A Claims Software Vendor?
Claims Management Software should utilize technology to create innovative solutions - revolutionary methods for Insurance claims software, workers compensation software, and custom services where insurance claims software and all associative professions would realize greater efficiency. A responsive technology and development crew specifically required to respond to every insurance software request has always been an intricate part of the decision-making when choosing a software vendor. "When do you need it?" is the appropriate response for every request. Talented developers and highly skilled professionals must rise to every challenge.
"Solutions Providers", found in the mission statement, is a required consideration when choosing a vendor. Years of developing claims management software products should not overshadow the core mission providing a continued high standard of service with a unique problem solving support staff.
Your vendor must understand the competitive nature of claims management software in today's marketplace, the intricacies of the economy and the credibility issues that can only be overcome through the long term commitment to client service. Today, as in the past, any small slip can result in a giant fall. This is especially true in insurance claims software where due diligence and community reign high. Vendors make choices based upon referrals. "Follow Through In Everything You Do", should be the vendor motto.
If you are an adjuster and the phone is ringing off the hook, you need Claims Management Software, Workers Compensation Software for all your insurance claims, with built-in but data mapping and presentation based on the line of business. Be sure your system has sophisticated search capabilities to locate the claim file you need. Also, capture all relevant claim information, document all file activity, incorporate all reports and correspondence and maintain permanent transaction records for multiple claims and/or multiple clients? A one stop shop system is preferable.
Some things to look for:
Total documentation for all activity
Powerful user access rights to control user levels and authorities
Encryption capabilities especially for browser based applications
Highly efficient time log/diary/alarms/claim notes. Many programs are now interfacing with outlook calendars
Supports related activities like bill review, case management, policy admin interfaces
Capability for custom interfaces like HR &Accounting
Standard user interface for all lines of business
Multiple carrier client line of business relationships and single database
Document depository in workflow management systems
Audit trails, due diligence Sarbanes (SOX) compliant when used with other programs
A TPA likes software with time and expense billing capabilities with invoice and accounts receivable generation.
Finally, with Internet applications, client portals, vendor portals, and other web based accessibility portals should be available for related activities. Consider options like vendor invoice uploads (eliminates clerical time and allows vendors to monitor invoice and payment activities without calling). Reinsurers can monitor claim activity and produce reports adhering to carrier and TPA guidelines since all remote access should be controlled.
A final thought: most niche Software Products satisfy the majority of the user's needs, but rarely all. It's a comfortable feeling to know that the developer is willing to make minor or major modifications to the software to accommodate current and future needs that may not have been addressed in original package.
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