Claims Management Software: Simplifying the Entire Claims Process
Claims firms can offer their clients a quicker and faster claims route with claims management software.
People around the UK are often told by official bodies and others not to use claims companies if they have a personal injury, medical, financial or other type of claim they want to proceed with. This is certainly the case with payment protection insurance (PPI). Instead, they are advised to go ahead and make the claim themselves.
This presents both something of a dilemma as well as an opportunity to claims firms, especially those using advantageous tools like claims management software. How do you grow a company in the face of guidance from the authorities (and the media) that the public does not need your services? Is it even possible to battle that sort of high-level advice and get ahead?
The answers lie in providing a swift and efficient claims service that cuts through all the potential roadblocks and quickly gets clients their money. This is possible with claims management software — and for the average person who is not knowledgeable about the claims industry, making their own claim can be a daunting task. Additionally, people generally do not want to spend a lot their time and effort trying to fight a claim. All they want is their money, as easily as possible.
Giving Clients the Service They Want
Once they take on a case, claims firms have a strong incentive to ensure the claim is successful, so that the client gets their money and the firm gets paid, usually a percentage of the money awarded — they are in business to make money and are not charities. The best PPI claims firms, for example, are those providing sterling services to their clients, and they are doing it with claims management software.
After all, since PPI claims started being made in 2011, claims management companies have collectively enjoyed £5 billion in fees, with £26.9 billion paid out by the big banks to date. Much more is to come. The Financial Conduct Authority is aiming to launch a sizeable advertising campaign later this year that will remind people to check if they have been mis-sold PPI and, if so, to consider claiming a refund or compensation. This is because it wants to bring PPI claims to an end, and a deadline of August 2019 for making such claims has been imposed.
Those who have been mis-sold PPI and other financial products have the choice of making their own claim or using the expertise of claims management companies — and reputable ones at that. But as we have said, it can be a perplexing undertaking that is fraught with all kinds of difficulties. There exists the very real possibility that someone might get far less than they would have done had they used a claims firm — or worse, nothing at all. Simplifying PPI and other claims is what clients want; it is what claims management software delivers.
Advantages of Claims Management Software
Let’s begin with the money, because that is what every business owner is interested in. Claims management software need not be all that expensive. Ours here at Logican, for instance, is LogiClaim and we only charge a modest fee to install it on a network. Then there is a licensing charge that is calculated based on the number of people using the software in a claims firm. It can be paid monthly or annually and discounts are available, so the outlay is minimal.
So what is it exactly that claims software can do? We have designed ours to be highly intuitive, starting with the admin interface. Clients can customise the software to get the most out of it for their particular requirements. This is easily achieved in the various options and preferences in the admin area, with minimal training needed. If claims firms want the software more tailored to their needs, our developers can do that for them.
Once set up and configured, claims management software allows companies to create the kind of claims they want to process, as well as each of their client’s portfolios. From there, customised documents are generated automatically and invoicing and payments can be planned. Managers can instantly get a visual overview of the entire claims operation, as well as notes about individual clients and their claim’s progress.
Overall, claims management software merges the expertise of claims firms with sophisticated technology to deliver a powerful, simplified experience to clients.
Logican invites claims management companies to contact us and find out more about how claims management software can help them attract growing numbers of clients and generate more revenue. Get in touch with us today.