In the highly competitive insurance industry, efficient claims processing is one of the factors that differentiate an insurance company from its peers. Aside from the benefits that the insurance policy offers, businesses require a seamless claims process to maximize profits and reduce insurance claims leakage that often slip through an inefficient system, resulting in 'unnecessary expenses.'
Track Four Infotec's AI and ML-based auto adjudication system, eOxegen, is one of the most advanced solutions available to simplify the complex and time-consuming process of claim adjudication. By ensuring the authenticity of the data submitted for the claim, the system expedites the claims process, benefitting the customer as well as the insurance company and improving user productivity.
The advanced features of eOxegen are used for pre-assessment in claims to control probable loss due to fraudulent claims, improving the predictive accuracy to prevent insurance fraud. With the use of technology and algorithm, data analysis is more foolproof, compared to manual analysis.
Claims processing can be a challenging and cumbersome process, where the claimant may miss out on certain items, leading to delays. To address this issue, eOxegen provides a handy list of 'red flags,' making it easier to manage the claim process and prevent fraud. Track Four Infotec uses this tool to maximize the benefit of the policy for the customer.
As a technology-driven company, we are committed to giving the best to our customers and protecting their interests. Our digitized systems minimize human error in manual processes, helping us manage the complex insurance process efficiently. By taking care of nuances such as distribution channels and the customer group, our detailed flow charts help us understand the customer's journey better, giving us a competitive edge in offering solutions.
Contact us today to learn more about how Track Four Infotec can help your business.
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