Government agencies have a lot riding on their claims management processes. Each organization or department has unique responsibilities that require vastly different approaches to the claims process. So it can be hard to identify best practices that apply across the board. There are also jurisdictional differences that impact how government agencies manage claims. Add to this the pressure from constituents, and you have what can be an intimidating claims management environment.
But with a digital claims management system, government agencies can tackle all of these challenges simultaneously, as well as establish best practices that other agencies can use.
Centralize Your Claims Management System
By centralizing your claims management solution, you unify your data, paving the way for insights that can significantly reduce your cost of risk. Instead of having to comb through several disparate systems to manually identify correlations, you can have actionable intelligence at your fingertips.
For example, let’s say your agency works in the transportation sector. You frequently have to deal with claims involving traffic accidents and property damage. But because you serve such a large area, it can be difficult to pinpoint the most impactful claim factors. As a result, you risk overpaying on your insurance premiums.
However, because claims management systems unify your data, they make it easy to identify loss indicators. For instance, you can gather data regarding all of the traffic accident claims over the last five years. The data can include both where and when the incidents occurred. You can leverage this information to identify which routes accidents are most likely to occur on. Then, if only a certain percentage of your fleet travels through those areas, you can use this factor to adjust your insurance coverage.
Use Data Analysis to Predict Claims Ahead of Time
Given the financial impact of claims on a government agency’s bottom line, the ability to predict which ones are around the corner can play into important budget conversations. While some claims are unpredictable, many follow straightforward patterns. With claims management software, you can use these patterns to see what’s most likely on the horizon.
A government agency that deals with public health, for example, needs to understand the number of claims they may face as a result of extreme weather conditions. In areas of the country where temps can spike into the triple digits, you may be able to predict the number of heat-related claims you could face over the next year.
The same goes for agencies in areas that have to tangle with snow storms. You can use your claims management system to figure out the average number of claims stemming from snow you’ve had to deal with in recent years. With this data in hand, you can make reliable predictions regarding how much you should earmark for the next winter.
Optimize Your Claims Processes
One of the most expensive elements of claims is the labor it takes to process them. But a claims management system can automate many processes, lightening the load for your staff and giving you more budget breathing room.
For example, a simple typo while entering claims data can reduce the accuracy of a claim and force staff to spend hours trying to sort things out. But with claim management systems, you can have large amounts of data automatically imported into a range of forms. If someone files a claim and enters the type of incident, location, time, name, and address, you can automatically port this information to other forms that require it.
This makes it far less likely for mistakes to derail or slow down your claim processing. But it also saves your claims team time because they don’t have to trudge through as much manual, tedious data entry.
Leverage a Central Claims Data Repository
With a claims management system, you can put all claims data into a single system, making it easy to access in a pinch. For instance, suppose a department working with the school system is dealing with an educational malpractice claim involving a student with special needs.
Your claim management system gives you a place to collect crucial data, such as:
- Which school the incident occurred
- The teachers and teacher’s aids involved
- Information about the parents and their specific concerns
- Visual claims data, such as pictures of the classroom or the layout of the building, which may play a role in the outcome of the case
Also, because you have all of this and more information stored in your system, you can pull it back up in the event a similar situation occurs in the same school or class, or involving the same personnel. This could indicate a problem endemic to that school. Identifying it can simultaneously prepare you for future financial consequences and provide data that administrators can use to train staff and create a safer environment for all students.
Ventiv’s claims management system is ideal for government agencies due to its automation, ability to turn data into insights, and easy-to-use, centralized processes. You not only make the claims process simpler for government employees, but you can also reduce how much taxpayer money goes into making your essential system work. Chat with an expert to see how Ventiv’s Claims Solution is right for your organization.
