Claim Management Processing Services

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Presentation Description

Hvantage Technologies is an ideal partner for insurance claims management as we are driven to give high-quality service within short turnaround times.We offer customized platforms, processes and resources specially designed for your business requirements.Our comprehensive array of insurance services ensures that all your requirements can be met within one place.

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Presentation Transcript

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Claim Management Processing Services A good claims’ experience is a prominent key to improve customer retention and safeguard a company’s brand proposition HVANTAGE TECHNOLOGIES INC. 23463 Haynes St. West Hills Los Angeles California 91307

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Table of Contents 1. Introduction 2. Why outsource Claim Management Process 3. Benefits 4. Our Claim Management Services 5. The Hvantage Technologies Advantage 6. About Hvantage Technologies 7. Our Other Capabilities

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Introduction ● The insurance industry is undergoing a major transformation partly due to disruptions brought in by new technology changing customer behavior and demographics and new distribution models. ● In addition insurers are grappling with economic uncertainty low interest rates global climate catastrophes and rigid local and global regulations. ● Insurance companies eventually have to focus on reducing cost structures embedding big data analytics and technology for better customer insights and improved business outcomes. ● Hence effective claims handling becomes imperative to maintain healthy operating and loss ratios.

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Best Solution is to Outsource

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● With market deregulation and escalation in risk as a result of natural disaster and terrorism looming large the insurance industry is facing a lot of cost pressure. ● Any industry with an immediate need for cost cutting is an ideal contender for offshoring. ● If your organization has to manage large volumes of insurance claims administration outsourcing this task will be cost-efficient. But Why Outsource Claim Management Processing

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Benefits Greater customer satisfaction Customer service of a high quality in spite of business volume fluctuation Reduction in operations cost Greater accuracy in settlement of claims Fraudulent claims management To improve the efficiencies of their processes for administration of claims more and more of leaders in the insurance industry are turning towards outsourcing. The benefits that can avail through outsourcing of insurance claims processing include the following:

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Our Claim Management Services ● Insurance Claim Setup ● Insurance Claim Eligibility and Estimation ● Claim Document Imaging ● Adjudication on a fast track ● Adjudication of full claims ● Subrogation ● Claim Support and Auditing ● Settlement of documents and Accounts ● Legacy Application Modernization ● Disbursement

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Our General Process

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1. Enter Assignment into Xactware: ● Property Owner / Risk Information ● Claim Information ● Client Group ● Policy Information ● Coverage Details ● Add Mortage Holder 2. Loss Notice / Personal Rule- Once we enter assignmenteach client has Adjusters as per the loss city and send notify about adjuster information to us. We check this and send adjuster details to Desk Adjuster by using standard format through Xact. 3. Adjuster Document Management- We upload document of adjuster received on email to Zoho crm. 4. ISO Entry of Proctor Assignments We run daily report and generating ISO results from regular process. Once we get ISO results we need to upload document in respective assignments. 5. Service Center Map: We run daily report and generating Service Center Map given Link. Once we get service center map we need to upload document in respective assignments. 6. Rechecking of assignments and Cat Code: We run daily report and match with Cat Report. If there is any discrepancy we need to update Cat code in respective assignments. 7. Creation of 0 Invoices: Once new assignment is entered in Xact We create invoice again new assignment in QB with “Zero” amount. 8. Creation of Main Invoices- Once Claim gets closed we receive email from reviewer to create invoice. We check that assignment and create invoice in QB as per applicable billing schedule. Also send invoice to Desk adjuster or assigned email id where needed.

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11. Receive Payment- We make all invoices paid in QB against which we received payment. 12. Creating Pay Roll- We make Pay Roll on fort nightly basis and send to all adjusters via email so that adjuster can come to know about payment with all details. 13. Paid Marking- After making pay roll we mark all these assignment as paid in QB so that there will be no outstanding show in QB. 15. Reconciliation of Monthly Payment v/s Invoice – We reconcile all the payment received against invoices we made. If we found any discrepancy we mention in our notes and send back to respective person. 14. Replies of Emails and Queries- In addition with all above we monitor email account and reply to all emails where needed. 9. SIMS Payment Entry – After creating invoices we enter same amount in SIMS so that client can pay the amount. 10. Transfer Request – After creating invoices we enter same amount in SIMS so that client can pay the amount. Apart from all these process we complete all other task which we received from Client.

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The Hvantage Technologies Advantage Our team at Hvantage Technologies is dedicated to adding value by generating savings improving and increasing your core process capabilities by speedily and seamlessly migrating your processes: ● We provide end-to-end services across the claims value chain for personal and commercial lines of businesses including specialty lines. ● From First Notification of Loss FNOL to assessment claims adjudication subrogation reserve management and payments. ● We reduce transaction processing time without compromising on quality and accuracy of transactions ● We provide compliance with state federal and industry regulated guidelines. ● We offer customized platforms processes and resources specially designed for your business requirements.

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About Hvantage Technologies

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● Founders: Founded in 2011 by Neelesh Jain - serial entrepreneur in telecom real estate ● Locations: 2 offices in Indore India with 150 technology and operations team ● Expertise: Development Support Back Office Support Customer Support E-Commerce Management Support Offshore Outsourcing Support Services ● Domain Expertise: Healthcare Banking Finance IT Technology Internet Shared Economy and e-Commerce ● Lean Operating Model: Sales and support in US operations in India - - Our Clients

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Our Other Capabilities….

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User Experience Web Mobile Desktop Internet of Things Business Process Rules Workflow Transactions Data Store Real-time High Performance Business Intelligence Analytics Insights Trends Big Data Preparation Processing Product development and management Mobile Web Desktop Application Design and Development Technology Services Desktop and Infrastructure Support Technology Capabilities Analysis Development Quality delivered using Agile Process. Build Product management strategic alignment architecture assessment. Manage Continuous improvement product support training. Support Onsite creative team to design multi-platform dynamic effective user interfaces. Design

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24/7 operations support across three countries USA Onsite BrazilNear Shore and India Offshore High tech operations office in India Expertise in ECommerce Logistics General Administration Accounting Desktop and Infrastructure Support Operations Capabilities We have carefully built a culture where customer is our first priority. Care We practice industry standard technology processes to secure your information. Security We provide competitive advantage to our customers with operational innovation and efficiency. Efficiency Our talented operations team is fluent in English trustworthy experienced in operational management execution. Talent

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Native mobile applications iOS Android Windows Dedicated onsite designers and developers. Faster time of market with existing tested mobile components to plug in. End to end development including deployment to app store. Mobile Capabilities Hvantage creates designs that reflect client’s outlook Design Using innovative ideas result-oriented implementations to develop successful digital strategy for your business Idea Meticulously thought out design development SEO E-Commerce and Back Office support services Plan Generate relevant traffic to your website from various search engines SEO

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Our Offices Office No. 1 18 Office No.2

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Hvantage – India Location – Indore City Indore is an inviting opportunity with quality infrastructure at low cost. - Talent/Opportunities: Only city in India with the presence of most reputed international colleges Indian Institute of Management IIM and Indian Institute of Technology IIT. There are over 50 colleges and educational academies in Indore feeding the talent to domestic international businesses. - Cost: A Tier 2 city keeps the TCO almost half of the big 5s. • Comparing to Los Angeles its half in area and population 562 sq/km for 2.1 Million. • Indore has 2 operational and 1 proposed IT park with presence of InfoSys TCS Collabera. • Indore is connected with an International Airport Rail/Road. • Bus Rapid Transit system keeps traffic in control. • Indore provide the key ingredients of life including great weather food variety entertainment parks sight seeing malls hospitals sports institute education and a family friendly place to retain the talent. • Resources: Wikipedia IIM Indore IIT Indore

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20 State of art facility center in Indore India Hvantage’s India office is a state of the art facility designed around maximum productive software development environment. The open floor design encourages communication and collaboration both between techies and with our clients. • 8000 sq. feet professionally arranged space 2 offices • Seating capacity 150 associates • 6 manager’s cabins • 24 hours power backup • Large conference rooms • Internet connection up to 100 mbps multiple leased lines for client requirements • Ample parking space • 24 hours security guard • Server room with restricted access Hvantage India Offices

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CONTACT HVANTAGE TECHNOLOGIES INC infohvantagetechnologies.com www.hvantagetechnologies.com Address: 23463 Haynes st West hills Los Angeles California 91307 Phone:+1-323-250-0588 +1-347-918-3427

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THANK YOU

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