TransUnion, a leading South African credit and information management provider, has launched Claims Enabler, a one-stop solution for the insurance industry that empowers faster, more efficient claims processing.
Claims Enabler integrates multiple data sets across the TransUnion portfolio, aggregating all of the information insurance providers need to make faster, more accurate decisions and expedite the claims process for enhanced customer service.
“While all of the data used in Claims Enabler was already available from TransUnion, it required collating from a variety of different sources. Now, insurers can access this intelligence far more quickly, with customised reporting available depending on their requirements. This unique offering is the only solution on the market that incorporates consumer credit and automotive and insurance information into a single reporting solution. By bringing these databases together into a single, intuitive reporting interface, insurers can gain maximum output from minimum input,” says Ian Logan, senior director of Business Development: Insurance and Partners at TransUnion.
Claims Enabler is composed of Insurance Data Systems (IDS) data along with a number of other data sets for a complete and accurate decision around claims. These include fraud scoring and HAWK fraud protect, which monitors identity and address and facilitates the flagging of anomalies that can highlight potential fraud. The solution also comprises IDV identity verification, consumer credit report and profile, AIS vehicle valuation and verification and eNatis data to enable the verification of drivers’ licenses as well as registered vehicle status.
At the claims screening stage, this enables efficient claims prioritisation and quicker fulfilment. During claims processing or investigations, Claims Enabler provides validation and verification as well as automated processing to expedite applications and increase productivity.
Armed with this information, insurers are empowered to better understand claims and mitigate risk at the decision stage for both claims and investigation. For insurers, this results in reduced costs and processing time, better claims prioritisation, and a faster, more efficient processes that improves productivity. For clients of insurers, Claims Enabler enables improved customer interaction, as well as a fast and efficient customer service as claims can be processed more quickly and with greater accuracy.
“Insurers are rated by how quickly they pay out claims. With Claims Enabler, this process is dramatically improved and is also highly accurate and cost effective. This not only helps insurers gain a better rating, but also mitigate their own risk. Claims Enabler is just one of the products we have on offer to add value throughout the insurance lifecycle, by providing multiple layers of insight through data and analytics,” Logan concludes.
Claims Enabler is available immediately as an online platform with web services, to enable it to be integrated into insurers’ existing platforms as well as utilised on tablets and smartphones.