In the insurance industry, processing errors can have costly and far-reaching effects including delayed or rejected claims, intermingled or incomplete records, and broken trust with customers. The quality and accuracy of the data collected to feed or enhance business operations are only as good as the collection process.
How do you know if you have a good collection process? The most obvious answer is to maintain a metric that describes your error rate. While that’s a good place to start examining the effectiveness of the transfer information within your organisation, it is also a reactive measurement of errors that have already occurred. Good or bad, your error rate can only show you the percentage of processing errors. It cannot tell you how to prevent errors in the first place.
It may seem an impossible task to eliminate all processing errors, but using state-of-the-art, smart document capture technology, as outlined in these seven steps can position your insurance organisation for greater accuracy and success.
Download this guide to find out more about seven steps insurers can take to eliminate random claims processing errors.