Streamlining Claims Processing: How IDP Saved Zoom Insurance Time and Money

Recognising the need for automation, the Zoom team partnered with Clavis Technologies to integrate Clavis’ Intelligent Document Processing (IDP) solution into their claims management software. Using the new approach, Zoom’s team scans and uploads the required documents to their online claim management software. The intelligent portal checks all the policyholder documents, extracts the relevant data, and matches it to the policy records to provide a report to the agent before submission.

• Scanning and Uploading: The agent scans medical bills, receipts, and ID documents, which are uploaded directly into the claim management software.
• Extraction and Matching: The IDP engine uses machine learning and artificial intelligence to analyse the uploaded documents and automatically extracts critical information such as claimant details, billed amount, receipts, forms and patient details. The system then matches customer ID proofs against policyholder information.
• Verification and Error Highlighting: Clavis IDP automatically matches the extracted data against pre-defined claim requirements and highlights any discrepancies or missing information for the claims agents to review. The approach allows them to focus on resolving exceptions instead of manually entering every data point.

• Reduced Processing Time: Zoom’s claim processing times were slashed by 70%, with IDP handling the bulk of data extraction and verification. They now process their average claim in days, not weeks, significantly improving customer satisfaction.
• Enhanced Accuracy: Using automation eliminated manual data entry errors, leading to an 85% reduction in claim adjustments due to inaccuracies and saving Zoom significant time and money in rework.
• Improved Customer Experience: Faster processing times and fewer errors translated to a happier customer base. Policyholders experienced a seamless and hassle-free claims journey, boosting Zoom’s reputation and brand loyalty.
• Empowered Claims Agents: With IDP handling routine tasks, agents can focus on complex cases and provide personalised attention to customers, improving their job satisfaction and productivity.

The Future of Claims Processing: Zoom’s success with IDP is a testament to the transformative power of automation in the insurance industry. As IDP technology evolves, we can expect more significant improvements in processing speed, accuracy and customer experience. By embracing AI-powered solutions, insurance companies can streamline their operations and deliver a superior claims processing experience for their policyholders.