The Submission
The Issue at Hand
Customers feel anxious while
navigating claims
Every claim begins and ends with the customer. It is important that the insurer secures their peace of mind at every juncture of the journey.
Who is the customer? It could be the person insured, or a friend, relative, or anybody acting on the insured’s behalf. Regardless, they are the ones submitting the claim to the agent.
Once the agent has the claim in their hands, they have the responsibility to not only check the insured’s identity and documents submitted but also navigate them through the journey.
The Neutrinos Advantage
Let customers take control with intuitive submission & OCR capabilities
The Neutrinos platform makes it possible, and easy for the customer to intuitively submit the documents digitally, without the fear of intimidating insurance parlance.
Bypassing the agent means that the customer has the means to track their eligibility at any given time, at the click of a button.
Crucially, the OCR capabilities of the platform automatically extracts relevant information from the multitude of documents and consolidates it all together for easy consumption.
The Verification
The Issue at Hand
Medical officers are overburdened
with admin tasks
The agent then passes on the documents to a medically qualified officer. While this person is expected to adjudicate the eligibility of a claim, the manual, laborious nature of the task can result in delays in processing.
The medical officer has to check the documents submitted with intense scrutiny. Worse, they not only have to check everything from a medical point of view, they are also burdened by administrative tasks, which is not their domain of expertise.
In addition to deciding if a claim is eligible for a pay-out, they also have the added responsibility of deciding how much to pay.
The Neutrinos Advantage
Simplify administration with automated eligibility checks & payout determinations
The Neutrinos algorithm is such that it can extract information from new documents, aggregate information from existing ones and then consolidate them to support the new claim.
Aside from determining the eligibility of the claim and the final pay-out, the algorithm also dictates when a medical officer’s intervention is required to confirm the diagnosis for more complex claims.
By removing these administrative dependencies, medical officers can now focus on just delivering their expert judgement and customers can be assured of an efficient process.
The Investigation
The Issue at Hand
Insurers need to identify fraudulent claims
& investigate without bias
Consistency is key in insurance claims. Customers should not feel like the decision taken has been accompanied by bias and insurers need to ascertain that a claim is not fraudulent.
For this, insurers need to maintain a keen eye for detail and conduct investigations free of any personal opinions. However, the process itself is long and can become redundant without the right sets of data.
If insurers are not able to control fraudulent practices, customers would be burdened with increased premiums and may also leave themselves more vulnerable to risks.
The Neutrinos Advantage
Protects customers & insurers with intelligent pattern recognitions
The Neutrinos algorithm is designed to analyze patterns and behaviors and determine if any of them may result in possible fraud or risk.
The algorithm will scan patterns in terms of frequency of claim, nature of the claim, and also data about the person and their background to determine if the claim is fraudulent.
By building these capabilities into the system, insurers can avoid a tedious process and also maintain their credibility as insurance companies.
The Communication
The Issue at Hand
Customers are left feeling uninvolved
or ignored in the claims process
Unlike online shopping, the systems and processes in insurance are unfortunately not built to provide clear insights about the status of a customer's claims.
Communication between customers and insurers is also broken. Sometimes, a customer may be unclear on the details required and will have to wait days before they can get a call from the insurer about their claim’s status.
This lack of transparency is a result of archaic technological integration and can result in customers becoming frustrated and insurers losing credibility.
The Neutrinos Advantage
Build trust through transparent online communication
The Neutrinos Communication Module allows insurers to monitor all email correspondence with internal and external stakeholders from within the platform.
By adding this layer of transparency and efficiency, customers enjoy more open communication with insurers and can feel assured that their claims are being processed meticulously.
The Settlement
The Issue at Hand
Outdated payment methods have been
slowing insurers down
Finally, we move on to the claims settlement and payment resolution. Insurers in the 21st century still depend on outdated payment methods to disburse money - either through cash or check.
Those that do use digital payments, find that the process can be time consuming when trying to transfer the data to their banking systems.
Most insurers lack the technology to do instant integrations and cannot avoid the excessive effort that is needed to build such capabilities on legacy platforms.
The Neutrinos Advantage
Combine legacy platforms with modern tech using instant integrations
The Neutrinos platform is built to allow instant integration that avoid having to build capabilities over and above their pre-existing legacy platforms.
