-- The challenges and opportunities associated with creating an
integrated casualty claims solution: Lower costs via more effective claims
processes;
-- Boosting customer satisfaction by increasing claim satisfaction to
drive competitive advantage;
-- Driving loss costs downward with better handling of critical claim
segments such as 3rd party injury claims;
-- Fighting fraud in medical claims; and,
-- Effective casualty claim cost management through predictive modeling.
Out of the many topics discussed at the conference, the issue of how to use
data analytics to reduce loss adjustment expenses (LAE) and achieve
operational excellence in managing casualty claims emerged as the main
attraction.
"Claims handling for the casualty claim industry, including reviewing
medical bills and evaluating bodily injury and property damage liability
claims, has historically been characterized as inefficient and error prone
due to the manual nature of the tasks involved," said Tom McCarthy, Sr.
Vice President and Founder of Mitchell Medical. "Automation and decision
support tools leveraging powerful predictive modeling techniques can
provide insurers an opportunity to improve the efficiency and overall
effectiveness of their claims operations."
Employing best practices in managing casualty claims is just one aspect of
a well run claims organization. Speaking about the importance of a
customer's experience in the claim process, Kevin Keegan, J.D. Power and
Associates, said: "When an auto claim occurs it becomes a decisive moment
of truth with customers, accounting for 44% of a customer's perception of
their carrier. How well the customer experience is managed drives renewal
behavior, their willingness to recommend their carrier and their tolerance
of price. It is important for carriers to pinpoint and execute the
practices that will surprise and delight their customers."
About Mitchell Medical
Mitchell Medical is the preeminent supplier of casualty claims solutions to
the insurance industry. Mitchell's Decision Point auto medical bill
re-pricing application and ClaimIQ decision support suite for liability
claims suite are the only products focused exclusively on the auto
insurance market. Leveraging a database of 500 million patient encounters
and a powerful analytical modeling approach to claims, Decision Point and
ClaimIQ help drive an optimized claims process while maintaining effective
controls on claim settlement costs.
About Mitchell International, Inc.
Mitchell International is a leading provider of information, workflow, and
performance management solutions to the automotive insurance claims
industry, serving carriers, collision repair facilities, and other
commercial participants in the physical damage and auto-related medical
claims markets. Mitchell facilitates millions of electronic transactions
between more than 16,000 business partners each month to enhance their
productivity, profitability, and customer satisfaction levels. For more
information on Mitchell International, visit its Web site at
www.mitchell.com.
Contact Information: Contacts: Jennifer Forman Marketing Manager 800-238-9111 x6585 Email Contact or Kam Hashim Boston Communications 617-619-9803 Email Contact