straight through processing

Claim auditing and handling is often a time and cost intensive process. This solution enables you to allocate your human auditing effectively and efficiently by focusing on the claims that have a high probability of being invalid or fraudulent and optimize your return on auditing costs. Improve your STP by predicting which claims have low probability of being fraudulent. For consumers this will result in faster payouts, shorter periods of uncertainty and higher customer satisfaction.

Fraud

Predicts the probability that a claim is invalid or fraudulent

Business results

  • Up to 80% of invalid claims detected
  • 20% of claims straight through processed
  • 98% accuracy­ on straight through processed claims

Consumer results

  • *Shorter waiting times* for customers in times of uncertainty Shorter waiting times­ for customers in times of uncertainty

speed up the claim handling process­ 

Let your auditing agents focus on what matters 

DETECT FRAUDULENT AND INVALID CLAIMS
Deep analysis of claim data reveals indicators and customer characteristics which have higher probability of being fraudulent. Using text analysis invalid claims can be detected by finding written indicators for invalidity.

ALLOCATE HUMAN EFFORTS EFFECTIVELY
The predicted probablities of fraudulant or invalid claims assist your claims handling agents with acceptance decisions. Allocate the precious time of your human agents only to the high likely fraudulant and invalid claims and increase return on auditing.

FAST PAY-OUTS MEANS HAPPY CLIENTS
Claims with low probabilities can be handled by straight through processing enhancing the speed of claim handling. Now your honest customers will be helped immediately and will be positively surprised by the fast pay-outs, resulting in higher customer satisfaction.

COLLECT ONLY THE NECESSARY INFORMATION
Let the algorithm decide which additional information is needed to make the acceptance decision based on the type of claims and let your auditing agent focus on the decision itself.

INTERESTED IN THIS SOLUTION?

Get in contact with our Business Development & Solution Expert

foto van NAAM

SHAHIN RASTI­
BUSINESS DEVELOPMENT & SOLUTION EXPERT

I'm looking forward to brainstorm about the possibilities of Straight Through Processing in your organization. Don't hesitate to get in touch!

Ask Shahin