Insurance claim management software is designed to help insurance companies evaluate and manage insurance claims. It minimizes the risk of fraud while staying true to the principle of payments for those in need. What are the best claim management solutions out there and how can you get inspired for your product?
What exactly is insurance claims management?
The product in question should have a few functionalities that are necessary for insurance companies. Among them are:
storing information about claims in the database
allow users to submit claims
analyze data and historical patterns to highlight potential frauds
provide risk assessment functionalities through analysis of claim complexity
automate business processes – client onboarding, claims analysis, payments
medical evaluation
the revision process for annuities
appeals and complaints
court cases
recourses
reimbursements
integration with an accounting system
integration with the home-banking system
Comprehensive insurance claim management software is not an easy thing to develop. In fact, due to compliance and delicate matter, insurance software development is one of the toughest fields out there. That’s why you want to make sure the previously mentioned functionalities are identified and successfully implemented.
Claims management systems for insurance are about people, not data
Consumers use products, but in fact, trust the people behind them. That’s why it’s important to design claim management solutions in a way that enhances customer experience. Make claim uploading process seamless, analysis short, and decision making automated. Not with a human touch, though. It’s hard to automate and generate trust at the same time. That’s why we have made this list of insurance claim management software. Take a look at what’s already there and think about how your claim management solutions, implemented in your application, can help the market. You may also want to check our insurance compliance software list.
101
Claim Technology Platform
10-49 Employees
London, United Kingdom
Est. 2018
Claim Technology has created the first marketplace for pre-built Insurance automations, known as Accelerators.
These offer incredible benefit across the whole insurance value chain, enabling any insurtech vendor to launch a new business model on the Claim Technology platform.
Legacy technology is holding today’s Insurance companies hostage, and while many companies might have begun the route to digitization, none are truly ‘digital-first.’
Our Accelerators make it easy to start a digital conversation with your customers in a smart and omni-channel way, automating specific tasks as standalone solutions, or creating a digital journey in a low/no-code environment.
Accelerators allow vendors to offer quick solutions to their customers, enabled with one click using a low-risk SaaS based model.
This not only improves time to value, but also reduces the cost of product development, and helps any insurance vendor to test and validate a new idea, immediately trialing and checking for interest and value without lengthy purchase, implementation and release cycles.
ClaimSpace’s web-based, data-driven engagement platform delivers a more efficient, collaborative and digital claims experience for customers, claims staff and stakeholders alike.
ClickClaims is a Software as a Service (SaaS) claims management solution for Property and Casualty Insurance Carriers, Independent Claim Adjusters, Third Party Administrators, and Specialty Claim Service Providers.
Our turn-key applications are hosted, managed solutions that are integrated with Xactware, Symbility Solutions, Policy Management Systems, and over 50 carrier dispatch systems.
Your Claims are Our Commitment.
Please book a meeting so we can learn more about your needs and find the right approach.
111
Cloud Claims
10-49 Employees
Norwalk, United States
Est. 2003
Cloud Claims handles all commercial lines including P&C, workers’ compensation, auto, PL, GL, and more. User-friendly and aesthetically clean on desktop or mobile browsers, Cloud Claims accurately and easily manages the entire claims lifecycle -from first report of incident through payments and collections. Its rich features include dashboards, reports, document management, reserves, payments, notes, diary, and subrogation/recovery.
FileHandler Enterprise is an intuitive Claim Administration System designed to help streamline and automate the workflow for claims and risk management companies. Complete with new dashboards, reporting functionality, business intelligence tools, and the latest security technology, the FileHandler Enterprise system is the new benchmark for all claims management systems in the industry.
FileHandler Enterprise helps TPA’s, Carriers, Risk Pools, Risk Managers, and a variety of other business professionals administer claims, payment, and employee data to effectively manage their business.
FileHandler Enterprise is scalable and can be adapted for companies ranging from a single employee to hundreds. Contact us to set up a demo.
Five Sigma claims management platform helps claims organizations optimize their operations and reduce claims leakage. Using innovative SaaS and digital technologies and an unique implementation approach, claims organizations can make sure that their teams are making decisions while their software helps them and takes care of everything else.
IMS is an industry-leading claims/risk management system, covering all commercial lines including P&C, workers’ compensation, auto, and general liability. IMS accurately manages the entire claims lifecycle, from first report of incident through issuing payments and collections.
Metromile offers the industry’s most advanced touchless claims platform, harnessing the power of AI and end-to-end digital automation to deliver the best customer experience at the industry’s lowest cost.
NIS – Cloud based insurance software for automated insurance administrations /management
10-49 Employees
Bergen, Norway
Est. 1996
NIS is a low cost license software for any insurance concept! It is 100% built as a web based cloud solution, meaning it´s fully operational on any device (pc/pad/mobile) anywhere, with an internet connection. It is built and hosted on Microsoft cloud platform: MS Azure, so it´s scalable to any needs/size for automated growth.
A selection of NIS moduls – They are all connected for automated interaction, but can also be operated individually:
Policy administration (with automated renewal)
Broker administration
Billing
Sales portal
Customer portal
Risk supplier portal
Tailor-made reports
Engines (Price, UW, Commission, etc.)
Claims handling administration
Claims supplier portal
How automated do you want your administration to be? It varies, but the set up for one of our clients gave them a proximately 90% automated insurance administration. Their growth is incredible.
QuickCap is an advanced healthcare claim processing system built for IPAs, PHOs, MSOs and other management organizations. It is designed to process EDI and manual claims, capitation, eligibility, referrals, authorizations, premium billing, case management and other healthcare related items.
Enables customers to easily describe how the incident happened and add supporting photos and videos, helping them submit and manage their claim in a faster, more transparent way.
Please book a meeting so we can learn more about your needs and find the right approach.
131
RiskVille
10-49 Employees
Blackrock, Ireland
Est. 2018
RiskVille is a flexible scalable cloud solution for insurance companies, insurance brokers, insurance agencies, and captive managers with modules like:
1) CRM
2) Rating, Quoting, Policy Management, and issuance
3) Billing and reporting
4) Claims Management
5) Document and Mail handling.
Its single data storage accessible 24/7 for managing personal lines, commercial lines, or benefits.
Our know-how allows us to set 3 times lower price than competitors.
We can implement it for you within 3 days.
SpyGlass is a web-based medical claims software that handles health, dental, vision, standard or lifetime disability, time-loss payments, COBRA and life claims.
Claimable prides themselves on making simple, affordable claims management software. Their software has been carefully crafted to provide the tools necessary for timely and efficient claims management.
ClaimWizard assists your public adjusting business by providing powerful tools for managing every step of the claim process – from origination to settlement and beyond. ClaimWizard helps you stay on top of your adjusting case-load, proactively guiding you through your process, and providing improved customer service. Its client-centric approach helps to increase your company’s capacity, providing you with the tools you need to grow and succeed.
The # 1 ranked Claim management system for independent adjusters, TPA’s, MGA’s, & Mutual Ins. Co.’s. System does not apply to Public Adjusters. Entire system is based on the input from our 1000’s of Users. Integrates with Outlook, Quick Books, Xactimate, Xactanalysis, Symbility, NFIP/NFS, LEDES and Google Maps.
ted offers insurance in a modern and innovative way – transparent, simple, digital and of course with first-class customer care and guaranteed data security. Whether it’s basic security, all-round security or old-age provision – with ted you can comfortably determine, administer and cover your entire insurance needs.
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