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FINEOS Claims for TRAVEL

As the world gets smaller and consumers travel more and more, the number of travel insurance claims grows. With easy to buy policies and consumers demanding high value, low cost cover, the travel insurance industry is growing in competitiveness all the time. FINEOS Claims can help travel insurers to stay successful by helping them to offer keenly-priced and differentiated policies, superior customer service and a swift and simple claims process.

Streamline the Claims Process

FINEOS Claims automates tasks within the claim life cycle and supports auto-adjudication. Repetitive and administration-intensive processes such as generation and distribution of claim-related documentation are automated and documentation is managed electronically thereby reducing time consuming paper-based work. FINEOS Claims is highly configurable dependent on your pre-defined business rules and practices and can automate workflow to the correct skill and authority level.

Reduce Expense

Studies indicate that between 5% and 10% of people who buy travel insurance file claims against the coverage, so shortening the time it takes to process a claim results in lower overhead expenditure. FINEOS Claims helps you increase the automatic throughput of claims, reducing processing time and operational costs. The solution allows you to establish thresholds for automatic straight-through processing, lessening the need for assessor intervention. Claims that fall below a configured financial threshold can be fast-tracked - automatically paid and resolved. This lowers the time spent on low-value claims. FINEOS Claims uses your business rules to match claims against existing standards and protocols, decreasing the number of claims that get held up due to false-positive fraud investigations.

Better Customer Service

Due to the wide range of hazards and incidents covered by travel insurance, providing detailed and high-quality customer support can be challenging. The range of issues covered is diverse and includes delays and cancellations, medical expenses for accidents and personal injury, damaged and lost personal effects, and winter sports. Given that consumers may be covered for short periods by their travel insurance carrier, it is vital to provide them with excellent customer service to foster high customer retention levels. FINEOS Claims can help you to provide the best service available to your customers by giving you a real-time, single view of your customer. Case managers are empowered with detailed, up-to-date information at all times and the solution enforces best-practices to ensure that claims are resolved within operational deadlines.

Consolidate Lines of Business

FINEOS Claims can also help you to consolidate claims management for multiple products and businesses onto a single platform. FINEOS Claims is web-centric and designed to be delivered in an open Service Oriented Architecture (SOA) as a component-based infrastructure for enterprise claims management. This consolidation allows you to manage multiple claim types such as travel and motor, making it possible for you to detect possible duplication of claims across different policy types, enabling you to provide better customer service and helping you to identify cross- and up- selling opportunities.

FINEOS Claims for Travel goes beyond traditional claims processing to deliver all aspects of a total claims solution:

• Fully automated claims and case management
• Integrated customer management
• Comprehensive financial management
• Optimal provider management
• A flexible, modern, rules-driven technology platform