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Transform insurance claims processing with AI and automation
Reduce costs, enhance efficiency, and eliminate manual errors
The insurance industry faces significant challenges in claims processing, including error-prone manual data entry, inefficient communication, and outdated legacy systems. These inefficiencies slow down operations and lead to customer dissatisfaction and increased costs.
Virtusa, leveraging ServiceNow’s App Engine and its deep expertise in the insurance domain, provides a transformative solution that streamlines claims intake and processing through automation, AI-driven insights, and a low-code/no-code development platform. We enable insurers to improve efficiency, cut costs, and enhance customer satisfaction by reducing manual intervention, enhancing transparency, and modernizing outdated systems.
The claims intake process is the initial point of contact between the policyholder and the insurance company. It sets the tone for the entire claims-handling experience. However, the following challenges during this process lead to delays, errors, and dissatisfaction:
Manual data entry errors
- Human errors cause delays, incorrect payouts, and rework.
- Data inaccuracies lead to compliance risks.
Communication breakdowns
- The lack of real-time updates frustrates policyholders.
- Poor transparency leads to low customer satisfaction.
High operational costs
- Manual processing increases administrative expenses.
- Inefficiencies slow down claim resolutions.
Compliance risks
- Inconsistent data management creates regulatory issues.
- Failing to meet industry standards leads to penalties.
Outdated systems and technology
- Legacy systems fail to integrate with modern tools.
- Scaling outdated systems requires high investment.
How Virtusa empowers insurance providers with ServiceNow
Seamless claims intake and automation
- Document intelligence: Clients leverage ServiceNow’s AI-powered document intelligence to automatically extract key data from claims, reducing errors and speeding up processing.
- Integration hub: With ServiceNow’s integration hub, insurers can connect external data sources, eliminating manual data entry and streamlining workflows.
Enhanced communication and transparency
- Workflow automation: By implementing intelligent workflows, insurance providers can ensure all stakeholders receive real-time updates, reducing miscommunication and delays.
- Multi-channel notifications: Clients use email, SMS, and self-service portals to inform policyholders about claim status, boosting satisfaction and retention.
Modernizing legacy systems with cloud-based technology
- Single, scalable platform: Virtusa enables insurers to transition to a modern, cloud-based platform that handles claims at scale without high infrastructure costs.
- Low-code development: Clients can rapidly develop and customize claims management applications using ServiceNow’s App Engine, reducing reliance on traditional development cycles.
Ensuring data quality and compliance
- Automated data validation: Organizations enforce data integrity rules with ServiceNow’s Data Policies, ensuring compliance with GDPR, HIPAA, and SOX.
- Centralized data management: A unified data ecosystem gives insurers access to real-time, accurate claims information, reducing errors and compliance risks.
Achieving efficiency gains and cost savings
- Faster claims processing: Insurers reduce claims cycle times by nearly 50% through automation and streamlined workflows.
- Lower error rates: Not-in-good-order (NIGO) claims decrease by 70%, significantly reducing rework.
- Operational cost reductions: AI-powered automation helps clients achieve up to 40% cost savings by minimizing manual intervention.
- Higher productivity: ServiceNow’s App Engine increases end-user efficiency by 50%-75%, while developers become 4x more efficient in workflow automation.
Increased efficiency
- Automating workflows reduces processing times and eliminates manual bottlenecks.
- AI-driven automation improves claim intake and processing, cutting delays by nearly 50%.
Enhanced compliance and security
- Automated data validation ensures compliance with GDPR, HIPAA, and SOX regulations.
- A centralized data management system maintains accuracy and security, reducing legal risks.
Cost savings
- Reducing manual errors and rework lowers operational costs by up to 40%.
- Scalable cloud-based solutions eliminate the need for expensive infrastructure upgrades.
Empowered workforce
- End-users become 50%-75% more efficient in handling workflow tasks.
- Developers leveraging low-code capabilities are 4x more efficient, accelerating innovation.
Improved customer satisfaction
- Real-time portals, email, and SMS updates improve communication and transparency.
- Faster claim resolutions lead to higher policyholder trust and retention.
Virtusa, in collaboration with ServiceNow App Engine, enables insurers to modernize claims processing through automation, AI-driven insights, integration, and cloud-based technology. By adopting these solutions, insurance providers can significantly reduce costs, enhance efficiency, and improve customer satisfaction while ensuring compliance and data security.
Success stories
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