Touchless Claims
The claims process is crucial in the insurance value chain and weighs heavily on customer loyalty and retention ratios. Hence, sustaining a consistent quality of service delivery has become inevitable. Insurers must continue to re-invent, innovate, and optimize in managing claims cycle by focusing on loss payouts, fraud management, and expense control. Modern claims platforms and digital technologies, known as Touchless Claims, offer solutions to these challenges.
LTIMindtree’s Touchless Claims Ecosystem is the perfect balance of Generative- AI and human interaction desired in the claims process. After all, claims are the moment of truth from a customer experience standpoint. It brings intuitive human-centric design, persona-optimized processes, the power of Gen AI, a plethora of third-party data, and easy connectivity to an insurance enterprise through native APIs. The solution supports the claims operations team, field/ remote adjusters, and specialists with the following:
What the Touchless Claims Ecosystem Offers
Leapfrog upgrade analyzer
- A simplified and personalized FNOL experience
- Virtual assistance (AI-based) for critical decision-making
- A single view of the claims journey
- A cognitive claims experience
Leapfrog upgrade analyzer
- Advanced claims visualization
- Real-time claims monitoring
- Adaptive claims workflow
Functions and Features
Leapfrog upgrade analyzer
- Customer-centric claim model, using a combination of physical and digital claim channels and hyper-care claims services
- Optimized claim payouts using fraud control, accurate payout estimation, and risk prevention techniques
- Operational efficiencies through claim lifecycle automation and digital claim adjustment process
- Proactive catastrophe response strategy through advanced impact analysis, resource planning, and mitigation techniques
Leapfrog upgrade analyzer
- Enabling surveyors to assess the full impact of catastrophes on insurance claims to allocate resources to the site judiciously
- Advancing fraud management strategy with monitoring of key performance indicators
- Boosting the efficiency of the claims adjustment process with integrated image-capturing and video-sharing tools
- Diagnostic toolkit, which highlights strengths and areas of improvement for every step of the claims process
A simplified and personalized FNOL experience
Virtual assistance (AI-based) for critical decision-making
A single view of the claims journey
A cognitive claims experience
Advanced claims visualization
Real-time claims monitoring
Adaptive claims workflow
Customer-centric claim model, using a combination of physical and digital claim channels and hyper-care claims services
Optimized claim payouts using fraud control, accurate payout estimation, and risk prevention techniques
Operational efficiencies through claim lifecycle automation and digital claim adjustment process
Proactive catastrophe response strategy through advanced impact analysis, resource planning, and mitigation techniques
Enabling surveyors to assess the full impact of catastrophes on insurance claims to allocate resources to the site judiciously
Advancing fraud management strategy with monitoring of key performance indicators
Boosting the efficiency of the claims adjustment process with integrated image-capturing and video-sharing tools
Diagnostic toolkit, which highlights strengths and areas of improvement for every step of the claims process
Annual reduction of 10% - 12% in claims leakage
Annual reduction of 2% – 2.5 % in loss payouts
15% improvement in net promoter score
Reduction in medical bill claim cycle time by 20%
A 1% reduction in claim leakage through Advanced Fraud Analytics
