E-business enabler, WebSoft, has introduced a new feature rich, single channel claims system for corporate insurance claims management.
The system integrates a host of enhancements which are set to make it an industry yardstick.
Developed jointly with Red Screen, formerly Pierre Mulder & Associates, the system will shortly be in place at Glenrand MIB and will subsequently be rolled out into the open market says WebSoft Business Director Joao Frasco.
"The new system will set the standards against which other claims management systems are measured," says Frasco.
Its initiation followed an examination of local and overseas systems but none were considered of sufficient scope or flexibility to provide the kind of holistic claims management solutions that WebSoft required.
Fundamentally the system provides a mechanism to record, administer, manage, analyse and report on losses and is aimed at helping enterprises reduce the cost of doing business through better risk management and scientific claims analysis.
The key to the system is that it provides a holistic view to management and payment of claims coupled with the ability to record losses within a multi-level financing construct.
It provides control mechanisms that apply the assignment of costs to the appropriate components within that construct.
Where several loss consequences flow from a single claim event these are managed separately but recorded collectively.
The consequences of losses are recorded in monetary, time or output related measures allowing identification of where interventions will be most effective to curtail or eliminate future losses.
Specifically the system provides for on-line authorization and payment by cheque or EFT mechanisms with automated bulk payments.
There is provision to create a hierarchy of business structures without limitation of the number of layers, thus recognizing the client`s in-house structure, and applying the client`s own naming conventions.
Reports can be developed in real time and forwarded to other business parties and there is on-line simulation of different financing structures superimposed onto historic losses.
Alongside the payment system is an authorization mandate mechanism which applies limits on individual authorities. There is also a check-list system which guides users according to pre-defined requirements which have to be satisfied and which are editable by the handler.
The system is directed at all participants in the process of account handling and administration and in addition the client and the risk carrier are seen as users with their own controlled access to the system.
This broad-based definition of the user market dictated that the system be deliverable across the Internet, and required that the very latest techniques and facilities have been adopted in the architecture and delivery mechanisms of all system components.
Moreover, it`s fully integrated with the Microsoft Office environment using Outlook for messaging and task delivery, ensuring that it is extremely work-flow friendly.
It integrates historic claims records with new records enabling users to continue handling claims previously created on their legacy systems. "We see the system as a quantum leap in claims management," says Frasco.
Meanwhile Websoft is making significant inroads into the e-enablement market in general he says.
The company has a comprehensive, home grown offering of e-business software products and associated services.
These include world class software such as WebTime, a time logging and billing program, WebHR, a human resource management system ; WebCRM, a relationship and contact management system and WebCalls, a calling logging and management system.
The company is building strong niches he says, notably in the insurance industry, where it has developed benchmark policy management and claims systems.
"However, we definitely don`t want to be seen purely as a software company" emphasises Frasco.
"Rather, we are IT solutions driven knowledge managers and in meeting those imperatives we also provide associated data warehousing, data processing and user support, all on a best practice basis.
This explains the company`s broadened horizons to cover a wide spectrum of commerce and industry with associated services like facilities management, project management and associated consulting, enterprise development, network management and web development.
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