The claims management process is complex, and any gap in the documentation, wrongful claims, or mismatching of quotes can result in rejected, delayed, or fraudulent claims. Insurance companies are increasingly implementing claims management software with advanced AI-automation features to digitally transform the reviewing and settlement of insurance claims, ensuring quick & transparent payouts.
In this blog, we explore in-depth the claims management software, its features, and the best software available in the industry for P&C providers’ digital transformation projects.
Insurance claims management systems are used by enterprise insurance agencies & independent insurers to support agents in managing their clients’ claims. It primarily facilitates the knowledge and information essential for evaluating claims with a centralized record system. These applications improve operational efficiency, reduce claims management costs, and automate insurance workflows.
Claims management software decreases fraudulent claims by monitoring the authorization process and ensuring that all claim details, such as litigation, policy terms, and claim assessments, are recorded within a centralized system.
Additionally, insurance claim software automates the calculation & payment process, streamlines case management, and provides better overall claim insights.
✓ Thank you, the whitepaper will be sent to your email
Claims management software includes several features designed to guide users through the automated workflow.
Here are the most crucial features of P&C claims management software:
Here are the best claims management software for P&C companies to automate claims and provide faster, more compliant claims processing:
It offers a holistic insurance platform for policy administration, claims management, underwriting, agent quoting and inquiry, contact management, billing, imaging, printing, data warehousing, and reporting. The software is deployed using Amazon Web Services and receives continuous updates for maximum security, efficiency, and durability at scale.
G2 Review Score: 4.0 out of 5 stars
Price: BriteCore pricing is composed of four components: BriteCore Access: 1% of Premium BriteApps Access: .25% of Premium Services Work: $200/hr (Avg) AWS Hosting: $500/month
Guidewire claim software solution in based in California offers an automated end-to-end insurance claims management system ClaimsCenter. ClaimCenter is for personal, commercial, or workers compensation, designed to eliminate the need to perform repetitive tasks associated with managing claims. Gartner recognized Guidewire as a leader in GMQ 2016 and recommended this solution for organizing cross-department processes, reducing costs, enabling collaboration between teams, and tracking performance.
Features offered by Guidewire include:
G2 Review Score: 4.2 out of 5 stars
Price: Offers custom pricing based on features, customizations, support & training requirements.
Applied Epic is a cloud-based agency management system that provides powerful automation capabilities and clear visibility across the business. It’s a single open application that integrates well with your existing CRM application to efficiently manage customer policies and benefits, sales automation, and financial accounting processes.
The prominent features of Applied Epic include:
G2 Review Score: 4.5 out of 5 stars
Price: Applied Epic offers custom pricing based on customer requirements.
Pega Claims Management platform is is an easy-to-use claims management system that improves the efficiency and effectiveness of claims management and modernizes your underwriting environment on an enterprise scale. It allows insurance agencies to create intelligent, dynamic business rules to drive automated end-to-end claims processes that are agile and deliver higher ROI.
G2 Review Score: 3.6 out of 5 stars
Price: Pega Claims Management system offers custom pricing based on customer requirements.
FileHandler Enterprise is a scalable & intuitive claim administration system designed to streamline and automate the workflow for claims and risk management organizations. FileHandler Enterprise system sets a new benchmark in the insurance industry by providing tools like reporting and analytics, business intelligence, and security features to ensure a seamless claims management experience.
The platform is designed on a Microsoft platform. It enables professional employment organizations (PEOs) to schedule notices about critical updates or claims-related tasks and display key activities with date and time stamps.
Teams can also use the optional imaging tool to upload attachments and images to improve claim verification further. The key features of this software include:
G2 Review Score: 4.6 out of 5 stars
Price: Filehandler Enterprise offers custom pricing to its customers.
Snapsheet is a leader in the insurance industry due to its claims innovation. It facilitates the deployment of the fastest digital auto insurance claims process. Snapsheet works with more than 100 customers as a trusted partner, including many of the largest insurance carriers, third-party administrators, MGAs, insurtech, and sharing economy disruptors.
It is a cloud-based claims management software that focuses on digitization, engagement, and intelligent workflow automation. It provides unparalleled software and processes to enhance customer experience, drives organizational agility, and deliver transformational benefits via its Snapsheet Cloud software suite and Appraisal Services offerings. A few of the key features offered by Snapsheet are:
G2 Review Score: 4.0 out of 5 stars
Price: Snapsheet offers feature-based pricing to its customers.
LexisNexis Carrier Discovery identifies critical insurance carrier information at various points throughout the claims process. It assists with call center scripting and makes the adjusting process more informative and efficient throughout the life of the claim settlement process. The software effectively improves the adjustment process, policy management, changing the claim course, and identifying fraudulent claims.
G2 Review Score: 4.6 out of 5 stars
Price: The organization offers custom-based pricing.
A1 Tracker is easy-to-use, web-based insurance software supporting all types of insurance. Insurers can personalize the software instance by choosing a language, currency, and hosting option. The software allows insurers to track policies, applications, premiums, certificates, renewals, billing, payments, commissions, & sales opportunities.
Features offered by A1 Tracker include:
G2 Review Score: 4.8 out of 5 stars
Price: $8000 per year
360SiteView offers a digital no-code insurance claims platform that tracks the actions of all participants. It further reduces costs via end-to-end automation and supply-chain orchestration, allowing them to empathize and reassure the customers.
G2 Review Score: 4.7 out of 5 stars
Price: The organization offers custom feature-based pricing.
A claims management software expedites your claims processing and settlement by minimizing the turnaround time, reducing operational costs, and improving accuracy. It further automates the payment and calculation process, streamlines case management, and provides better claim insights.
With a variety of insurance management software available in the market, you should look at the following criteria before implementing a new software:
Digital adoption platforms such as Whatfix help boost employee productivity with better P&C insurance software training. You can create better onboarding and training programs to improve your organization’s P&C solution adoption and proficiency.
It also allows users to create interactive walkthroughs and task lists for different employee personas such as account managers, claims offices, and underwriters. Whatfix further integrates directly into P&C apps such as Guidewire, Duck Creek, and other popular P&C platforms.
Learn more about Whatfix for claims management software adoption now!
Request a demo to see how Whatfix empowers organizations to improve end-user adoption and provide on-demand customer support