What is Claims Administration Software?
Claims Administration Software systems allow carriers to manage the full end-to-end claims process within one solution. Log the First Notice of Loss, collect associated documents, identify urgent claims, detect fraud and improve efficiency while managing high volumes of claims, all without sacrificing quality of service.
Why Carriers Need Claims Administration Software
Carriers are taking steps towards holistic environments for collecting data and using it to allow pique efficiencies and greater customer satisfaction. As more carriers undergo digital transformations and adapt to cloud hosting, Claims Administration features are flexible to accommodate your goals.
Enable claims triage for setting priority according to better data sets in a centralized environment and empower administrators to leverage the full potential of their claims data. Seamlessly connect your Claims Administration to Billing and Policy Administration, as well as powerful integrations for analytical solutions.
Advance your business with the next generation of P&C insurance technology through WaterStreet Company. Download our WaterStreet Solutions brochure.
WaterStreet Claims Administration for P&C Insurance Carriers
Claims Management for All Lines of Business
From FNOL to claims settlement, WaterStreet Claims System streamlines the claims management process for all product lines in one system
Claims Processing in One System
View policy details, set reservices, issue payments, and upload supporting documentation and files as needed to track claim progress
Loss Reserve Management
Initiate, approve, and make loss expense payments with full visibility into cost management with loss reserve and accounting functions
Task Assignment Management
Task assignment based on user role, skill set, business line as well as notification of new tasks through diary entries and notes
WaterStreet’s Unparalleled Business Value
Reduce claims management costs by shortening the lifecycle and improved fraud management
Boost Operational Efficiency
Easily consolidate your claims management process for all your business lines into a single system with automated task management
Improve Customer Satisfaction
WaterStreet delivers automated straight through processing allowing you to focus on customer relations throughout the claims process
Automate routine tasks and track deliverables with easy task assignments and diary entries for better visibility throughout the claims lifecycle