February 16, 2021 – Chicago – Doculabs, a strategic consulting firm specializing in process and information management, today announced the release of its Claims Execution Management Solution. The Solution organizes and presents data from Celonis’ process mining tool; providing insights into an organization’s current processes and revealing opportunities for improvement. Optimizing the claims process is critical for controlling operating costs, increasing working capital, and improving customer satisfaction and retention.
But many insurance companies struggle to make significant improvements to their claims process because they can’t clearly determine the execution gaps and root causes of the “friction” in their processes. They then have trouble implementing and monitoring the best course of action for each gap in execution.
That friction isn’t just a drag on productivity, it affects customers. Customers in the claims process are experiencing emotions – frustration that they need to find a new car; worry about paying a medical bill – and a poor claims experience can send customers to another provider. In fact, Forrester research has shown that 30% of customers who have a poor claims experience find another provider.
“Every insurance company right now is facing an imperative — to provide a better customer experience during a claim process while keeping operating costs low,” said Marty Pavlik, Practice Leader, Doculabs. “Our Claims Execution Management Solution is a quantum step forward in how Doculabs and Celonis can impact the customer experience through the creation of a frictionless claims process.”
Doculabs’ Claims Execution Management Solution addresses these challenges. It is a process optimization solution for claims organizations, natively built on the Celonis platform. The solution provides executives and claims managers an end-to-end solution to improving the claims process efficiency and effectiveness. Alexander Rinke, Celonis CEO, says, “This new app delivers on the promise of process mining via an easily understood interface that will help Celonis customers make sense of the immense amounts of data process mining uncovers. And once they understand their data, they can then use it as the basis for action.”
The Claims Execution Management Solution is used to identify execution gaps, such as underdelivering on customer needs, overpayment, and assignment to the wrong adjusters. The tool then helps executives and claims managers identify improvements, implement them, and monitor claims process execution against value metrics.
The Solution will:
1. Improve customer satisfaction, retention, and upsell
2. Reduce inefficiencies caused by staffing and resource issues, including allocation and training
3. Reduce rework, redundant processing, and reopened claims
4. Reduce claims overpayment and loss adjustment expense
5. Reduce long cycle times and NIGO quality issues due to lack of standardization, digitization, and automation
Doculabs is a management consulting firm that delivers trusted advice for companies to achieve their digital objectives and goals. We help companies accelerate their digital objectives through a variety of consulting services, including development of strategic vision and roadmaps, business cases, program design, process mining and redesign, technology evaluation, delivery methodology, and governance models.