Digital. Dynamic. Dependable.
Personalize Claims Management for Life and Annuity Insurance
Ensure efficient and hassle-free settlements for life insurance policyholders with automated adjudication.
“Newgen’s Smart Claims Management Solution helped us significantly reduce claims leakage and minimize fraudulent cases. Built on a low-code platform, it accelerated deployment and change management. We can now focus better on customer engagement.”
VP – Life & Annuity Claims, Leading Annuities Insurer in the US
Learn What Newgen’s AI-powered Claims Automation Solution Can Do For You
Multichannel Initiation and Claims Handling
Allow customers to initiate claims from self-service portal, website, and social channels. Automate first notice of loss, document intake, and integrations with ecosystem partners. Handle claims against individual as well as group policies with ease. Enable different claims journeys, including death claims, maturity, critical illness, permanent total disability, temporary total disability, and involuntary loss of employment.
Intelligent Claims Assessment
Auto-classify claims as “fast track” or “non-fast track” and identify admissible/non-admissible claims with built-in rules. Perform product-based calculation rules for reserve, death benefit, disability benefit, critical illness, and final payable, and generate a claim summary sheet. Leverage investigation portals and mobile apps for quick resolution and easy access. Detect fraud, mitigating risks and financial losses with AI/ML algorithms.
Operational Insight and Monitoring
Monitor and measure user efficiency with defined KPIs to address gaps. Ensure transparent and timely life insurance claims processing with escalation matrix and effectively track claims processing across departments.
Automated Claim Payout and Settlement
Reduce manual efforts and minimize errors with the help of rules-based payout determination. Streamline the process with complexity-based claims triaging and assignment. Process claim amount after confirmation by the claimant.
Multichannel Initiation and Claims Handling
Allow customers to initiate claims from self-service portal, website, and social channels. Automate first notice of loss, document intake, and integrations with ecosystem partners. Handle claims against individual as well as group policies with ease. Enable different claims journeys, including death claims, maturity, critical illness, permanent total disability, temporary total disability, and involuntary loss of employment.
Intelligent Claims Assessment
Auto-classify claims as “fast track” or “non-fast track” and identify admissible/non-admissible claims with built-in rules. Perform product-based calculation rules for reserve, death benefit, disability benefit, critical illness, and final payable, and generate a claim summary sheet. Leverage investigation portals and mobile apps for quick resolution and easy access. Detect fraud, mitigating risks and financial losses with AI/ML algorithms.
Operational Insight and Monitoring
Monitor and measure user efficiency with defined KPIs to address gaps. Ensure transparent and timely life insurance claims processing with escalation matrix and effectively track claims processing across departments.
Automated Claim Payout and Settlement
Reduce manual efforts and minimize errors with the help of rules-based payout determination. Streamline the process with complexity-based claims triaging and assignment. Process claim amount after confirmation by the claimant.
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