FINEOS to Present and Exhibit at Eastern Claims Conference

FINEOS Corporation, the market-leading provider of group and individual core systems for life, accident and health insurance, will present and exhibit at the Eastern Claims Conference taking place in Boston, MA from March 31 to April 2 2019.The Eastern Claims Conference is an educational conference devoted to Life, Disability, Accidental Death and Dismemberment and Accident and Health Claims Management. The program is designed to serve a broad target market, from entry-level associate personnel to senior management. The ECC’s only function is to present an annual conference for the benefit of those who serve the insurance industry in the claims handling process.On the opening morning of the conference, David Schulman, FINEOS and Rob Waterman, MassMutual, will present “Life Claim Automation”. As insurance companies look to expand capabilities in the digital space while automating the Life Insurance Claims process, the need to identify and authenticate parties to the claim and detect situational claim fraud, becomes critical to the process. In the session, Mr. Schulman and Mr. Waterman will discuss how this space is changing and what companies can do to improve with the use of various automation tools.In an ever-changing landscape of shifting federal, state, and municipal regulations, absence management grows exponentially more complex. FINEOS Absence simplifies the complexity, automating processes around both paid and unpaid absences. FINEOS Absence integrates seamlessly with FINEOS Claims, HRIS, and third-party systems.The flagship product, FINEOS AdminSuite is designed specifically for the Life, Accident and Health market. A comprehensive, flexible and agile suite, it includes absence, billing, claims, payments, policy and provider. FINEOS AdminSuite is built on the robust FINEOS Platform and is designed to connect to the partners and digital platforms that increasingly define the insurance landscape.FINEOS staff will be available throughout the event and would love to meet there to discuss how FINEOS can assist with your next project.

Administrative Strategies Resolves Claims 54 Times Faster with Encircle

Administrative Strategies, industry leading provider of catastrophe response and National Flood Insurance Program (NFIP) claims handling solutions, has chosen Encircle Inc. as their collaboration, documentation, and field productivity software solution provider. Administrative Strategies is dedicated to delivering on their promise to quickly and accurately put people’s lives back in order after a loss. However, traditional system processes, distance, site access, and resources can make this promise challenging. Administrative Strategies selected the Encircle platform to digitally gather information and streamline workflows resulting in a significant gain in efficiency and customer satisfaction.“Encircle Link helps us deliver on our promise to get our customers on the road to recovery within hours and not days,” explained James Gardner, Field Claims Manager and Adjuster, Administrative Strategies, LLC. “We can now confirm flooding at first contact, get the Advance and Preliminary Report started before an inspection even occurs, and submit it before the adjuster leaves the property! This gain in efficiency has allowed us to improve the customer experience and to deliver on our promise.”Without downloading an app, the insured can provide photos, details of the loss, and signatures from their smartphone or tablet using Encircle Link. The time from initial contact to payment request drops from 10.8 days to just 0.2 days when using Encircle Link; making the process 54 times faster than their traditional process. This reduction in time enhances customer interaction at their time of need, improves communication with all parties involved and facilitates faster delivery of accurate advances.“We are very pleased with the results that Administrative Strategies has been able to achieve by implementing Encircle,” commented Paul Donald, Co-Founder and CEO, Encircle Inc. “By using Encircle to improve documentation and communication, Administrative Strategies has dramatically improved their operations and reduced cycle times, giving them time back to focus on providing customers with the exceptional customer service they’re known for.”

Over Four Million Brits Consider Fraudulent Home Insurance Claims

A home in Louisiana damaged by Hurricane Katrina (Photo credit: Wikipedia)

Chester, England, (PRNewswire) Britain’s number one comparison site found 4.3 million people with home insurance, (11 per cent), are willing to consider making a false claim on their home insurance. Of these people, four per cent (or 1.5 million) admit they’d consider making a false claim – or had already done so – regardless of the economic climate. Worryingly, almost 780,000 people have already defrauded their home insurer by successfully making a false insurance claim in the last five years.Peter Harrison, insurance expert at MoneySupermarket, said: “It’s extremely concerning to discover so many people are contemplating making a false or exaggerated claim on their home insurance. With recent news the UK has slipped into a double-dip recession, household finances will undoubtedly be stretched, but no matter how tempting, fabricating a claim for a payout is illegal, and you could face being prosecuted as a result.”
Insurance companies take fraud very seriously, no matter how big or small the amount being claimed for. If insurers are suspicious of a claim’s validity it will be investigated with specialist detection processes and anti-fraud technology. Anyone caught and found guilty of insurance fraud would find it extremely difficult to get insurance cover in the future. Previous convictions for insurance fraud must be disclosed on application forms for any type of insurance. Insurance premiums will be much more expensive for someone guilty of making a false claim, and in some cases insurers may not be willing to offer cover at all.
When it comes to fraudulent home insurance claims, there is a North-South divide with people in the North East (15 per cent) and North West (14 per cent) most likely to make a false claim. However, residents in the South East were the least likely to make a claim, with only eight per cent stating they’d be prepared to do so.
In addition, males are more likely to make a fraudulent claim (14 per cent) compared to females (eight per cent). Those under the age of 35 are more likely to act dishonestly, with 21 per cent making, or likely to make, a false claim compared to just 10 per cent of over 45’s.