Claims processing automation with Alfresco Digital Business Platform

Posted by Daniela Di Noi on 4/30/19 10:45 AM

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Recently, we co-hosted a webinar with Alfresco, entitled “Automating content-centric processes in Insurance”. We often hear from our Insurance customers what are their main drivers for systems modernization.

The high-level driver for the transformation is the evolution of the market and the evolution of the customers: insurers have to deliver products and services quickly and they need to reinvent itself with major revisions in operating models, document processes, value propositions and customer relationships. 

According to Accenture’s report, the new insurance customers are better informed and more demanding. They are more:

 

  • Self-Directed - Look for what they want, anytime, anywhere;
  • Experiential - Look for unique experiences tailored to their personality and preferences;
  • Co Productive - Engage with service providers in product co-creation;
  • Social - Rely on “wisdom of crowds” (social media blog) to share;
  • Connected - Switch on to multiple devices and channels,
  • Informed - Get relevant content with high frequency.

Millenial

 

Insurers are fully aware that their legacy technology is outdated, and they have tried several approaches to improve the claims process. Traditional claims processing is highly manual, time consuming, and error prone process. Many insurance companies are plagued by long processing times and process inefficiencies, which often lead to unsatisfied customers.

During the webinar, Xenit and Alfresco discussed common challenges in today’s claims processing, including:

  • High operational costs: claims processing is still based on manual and/or paper processes, such as data entry or data gathering, leading often to errors, operational inefficiency, and greater costs.
  • Lack of integration with legacy systems: desperate tools and platform, unavailable in real time, with the inability to digitized unstructured, often paper based content and lack of automated checks that lead to incomplete information and delays.
  • Compliance and regulatory risks: New policies and rules are constantly being introduced, making it difficult to keep up with changing regulations while executing efficient processes.

 

Claims Processing Automation

 

 

HOW ALFRESCO CAN HELP

Alfresco offers a complete content management system to seamlessly & efficiently orchestrate front-to-back-office customer on-boarding processes, accelerating claims processing and improving compliance and operational efficiency. It includes content management, process design & orchestration as well as governance in a single cloud-native platform.

Watch the recording of the webinar to discover a faster way to automate claims servicing by ensuring process, content and governance are seamlessly combined in Alfresco Digital Business Platform.

 

Topics: Alfresco, Digital Transformation, Insurance, Claims Processing, AI

About Xenit 

 

Xenit is a Belgium-based IT company, focusing  on content services solutions, and covering all document-related business processes, from data migration to digital archive to hybrid/cloud hosting solution, to help organizations get control of their information. Premier Partner and System Integrator of Alfresco Digital Business Platform, Xenit has more than 10 years of experience in Alfresco Content and Process Services.

 

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