Insurance Solutions > Introduction to ClaimsPath

Printer Friendly

The claims process is time-consuming, complex and costly. Reporting, investigating, documenting, managing, and ultimately settling even a simple claim involves the time and skills of far too many people, both inside and outside the insurance company.

With Castek’s ClaimsPath, you can do that and much more.  Once the facts of a claim are clear and coverage confirmed, the claims adjuster becomes the “buyer” of all the goods and services required to resolve the claim. Today, this buying is a hands-on phone and fax process. A typical commodity auto claim, for example, can generate 10 to 13 phone calls between the buyer and the sellers. What if you could change that? What if you could significantly increase the efficiency and accuracy of your claims process? What if you could slash the time required to adjust and settle claims, dramatically reducing your claims expense ratio? What if instead of using mail, fax, or phone, you could do all that over the Web?

Castek’s ClaimsPath is a true claims communication tool that connects adjusters directly with their preferred service providers. By coordinating the flow of information and decisions between adjusters and service providers in real-time, ClaimsPath offers you new opportunities to control the costs of claims processing, to enhance customer service levels and to provide management with real-time information every step of the way.

Here’s how it works. The initiator of a claim creates assignments and sends them to the appropriate suppliers. The suppliers, in turn, provide the adjuster with information and assignment status to manage the claims process. Information flowing between the adjuster and the supplier may be in the form of formatted data fields or attached documents, including images, data extracts from third party programs specific to the supplier industry or word processing documents. Data collected as a result of the claims process is stored for retrieval in the form of management reports and transferred into the insurance company’s claims system. ClaimsPath overlays the online procurement of goods and services with good claims management, allowing adjusters and suppliers to participate in collaborative commerce, while maintaining the proper balance between procurement efficiency and good claims decision-making.

Castek’s ClaimsPath delivers real and measurable bottom line results today.

Key Benefits

Improved Claims Efficiency

Fewer phone calls. Fewer faxes. Less paper. Welcome to a world where consistent information is delivered and available when and where you need it, without being keyed and re-keyed. A world where everyone in the process has access to the same information at the same time.

Improved Customer Service

The speed and efficiency of ClaimsPath, with claim progress and information available to the insured as well as the adjuster from anywhere at any time, helps maintain a high level of customer satisfaction.

Reduced Claims Severity

ClaimsPath supports your corporate service provider programs, enabling more volume to be driven to the suppliers of your choice. It actively monitors and measures supplier commitments and adherence to corporate service guidelines, resulting in decreased cycle times and reduced claim severity. ClaimsPath delivers proven results from reduced costs for auto rentals to on-time management of service providers to reduced service provider management time for your adjusters.

Enhanced Management Information

ClaimsPath improves your ability to monitor product quality and service. Timely and accurate reports compare service by supplier and adjuster, relative to expected and agreed service levels. Claim process bottlenecks are easily identified so that management can improve the overall efficiency of the claims service supply chain.

Quick Implementation

We can run the software for you. ClaimsPath can be hosted or easily installed in your environment, accessed through a simple Web browser. All communications are conducted over the Internet, following your claim process and using your claim forms. The result: Minimal training and quick implementation.