Using Document Automation Software to Support Insurance Claims Automation

Document Assembly, Document Automation, Document Creation, Document Generation

Success in the insurance business depends on two major factors — accuracy and speed. The problem is that accuracy and speed are difficult to achieve at the same time. Increased speed often leads to decreased accuracy and vice-versa, but technological advances in document automation are helping change the trend. Many insurance companies have found great success using document creation tools to support insurance claims automation to quickly produce documents, reducing the time spent processing claims.

Your claims process could use an upgrade

For an insurance company, success is achieved by building accurate risk models to set competitive rates, providing accurate estimates to customers, and ensuring all your detailed documents and customer communications contain accurate information and precise language. Document automation speeds up processing and incorporates standardized templates that support the process and ensure accuracy doesn’t suffer.

Why document assembly software is critical for insurance claims document automation

Innovation has automated and accelerated insurance claims processing, but one thing hasn’t changed — the need for accurate documents. Most of them are digital these days, but documents are still at the heart of all insurance claims. For that reason, high-quality document preparation software is a critical component of all successful insurance claims automation solutions.

Think about it — how many documents are involved in claims processing? Whether you specialize in life, vehicle, or property insurance, the paperwork starts with the first notice of loss and just keeps coming as you work to verify and assess the claim and determine the appropriate course of action. The best way to keep up with it all and make sure you achieve your goal to reduce claim processing time is to include insurance document assembly software in your claims automation plans.

Three ways automated document production speeds up claims processing

So how exactly does automated document production reduce your total claims processing time? Let’s take a look at three simple ways it can help:

1. Easy-to-use templates

Document preparation software enables you to set up standard templates for everything from repair estimate forms to customer letters. There’s no more searching for the latest version, copying or modifying a document from another claim, or manually deleting old information. Instead, you simply select the type of document you want and follow the automated prompts to select exactly the data you need to create accurate, high-quality documents in a fraction of the usual time.

2. Seamless data integration

Automated document generation software eliminates the need for repetitive, error-prone manual data entry during insurance claims processing. Instead, the solution integrates with your claims management software and other systems to automatically pull in the data you need to verify insurance coverage, file damage reports, request repair estimates, and send customer updates.

A good document assembly solution also helps validate data entries such as dates and addresses. As you can imagine, avoiding manual data entry significantly reduces the time required to create and process the multitude of required claims documents.

3. Significant error reduction & improved quality

Templates and data integration do more than save time directly — they also reduce human error and the time needed to correct and reprocess documents. Whether it’s a missing term or condition, a misplaced clause, or an inaccurate policy number, data errors can cause problems ranging from customer frustration and loss of business to over (or under) payment and compliance issues. You can avoid the time and trouble required to correct and make amends by including document generation software as part of your claims automation solution.

How to find the best document assembly software for your insurance claims automation needs

If you’re excited about saving time with insurance claims automation, the next step is to find the right solution for your business. As we’ve mentioned, a key part of that solution is a high-quality document assembly tool to help you handle all the required forms and communications.  There are lots of document generation software options available, and your task is to sort through your options and find one to meet your specific claims automation needs.

To find the best solution fast, we suggest starting with HotDocs! With over a million customers  — including 8 of the top 15 insurance companies in the world — in 60 countries, we’re an established leader in the world of document creation and automation for document-centric industries like insurance. We offer document automation solutions built to help insurance companies like yours quickly prepare and deliver accurate claim and policy documents.

Want to know more? Visit our insurance solutions page to read about HotDocs document automation software specifically benefits insurance firms, or explore our insurance customer stories and testimonials.