Property & Casualty Claims Rejuvenation Process Software

A significant portion of income that a P&C company earns in premium revenue is spent on the combination of Loss Adjusted Expenses (LAE) and Claims payouts. This is why optimization of the claims operation is important to the competitiveness and profitability of a P&C Insurance company. When a claim is filed it needs to be settled quickly or the company risks losing an important customer.

Instead of analytical work, adjustors are usually forced to spend much of their time dealing with requirements gathering, managing files, faxes, voicemail, email, normal mail and other media. Adjustors can spend as much as 20% of their day creating reports for management. Day to day concerns are loosing track of requirements that have been ordered during a case until the agent / broker or customer inquires, files get lost or misplaced and too many systems and screens that make the work environment awkward and unproductive.

The IPD Solution
The Ultera/P8 IPD application is a proven application that allows a claims rejuvenation project to be implemented mostly with configuration but yet is flexible enough to provide the ability to easily connect to other systems using industry standards and allows customization as seen fit by the insurance company.

The Ultera/P8 application can:

• Completely unify work environments and allow everyone to work 30%-50% more productively
• Significantly increase customer service
• Allow the insurance company to reduce LAE by 10% - 15%
• Provide an online interface with a complete work inventory for the claims operation
• Provide a user friendly intelligent graphical user interface (iGUI) that:
• consolidates the data from the most practical systems and applications to one
• allows users to see all documents and media that relates to the case file
• allows users to manage the life cycle of any case file and requirements gathering process with providers
• allows users to easily interface with brokers and agent
• Provide a comprehensive executive information system (EIS) for management so they can track and manage work
• Provide low risk and low total-cost-of-ownership (TCO) because most of the environment can be configured without programming and can therefore be managed by the business