Claims Management
The Problem
It's a constant cycle: as sales grow, so does the volume of service transactions. Even when a company adds resources to handle this increased volume, they are largely consumed by inefficiencies such as filling out and transmitting forms; checking to see that forms are valid; returning invalid forms for resubmission; experiencing delays due to lost submissions and errors; and tracking problems due to lack of consolidated records.
With paper-based, non-web-based, or proprietary software management systems, warranty providers must perpetually pay the escalating cost of a claims processing bureaucracy that often diminishes brand value and customer loyalty with service delays and failures.
Our Solution
Process automation breaks the cycle by replacing manual registration, claim forms and their underlying processes with an easy-to-use online application that all authorized participants in the service supply chain can easily access. By streamlining warranty administration and minimizing manual intervention, the efficient processing of service transactions can keep pace with sales growth and reduce costs.
ServiceBench Claims Management
The ServiceBench Claims Management solution streamlines the labor-intensive process of managing product registrations, filing, validating and adjudicating warranty claims, paying reimbursements and recovering the costs of faulty parts. The Web-based system may be accessed with any standard Web browser. Product warranties can be rapidly registered by consumers to ensure authorized coverage and service providers can respond to service calls without unnecessary delay. Claims can be submitted in just minutes and instantly approved, rather than taking weeks or months. Online business rules validate the accurate collection of data and ensure prompt payment of approved claims and recovery of expenses from suppliers.
By automating the entire claims management process, a vast amount of service and product data is collected that can be mined to derive strategic information for improving the post-sales service process. Data can be analyzed to improve service delivery, increase product quality, reduce fraud and predict future performance.
The ServiceBench Claims Management solution provides the essential foundation for creating a profitable service supply chain. Companies can devote their resources strictly to driving best-in-class service to achieve the level of customer satisfaction that builds loyalty.
The ServiceBench Claims Management solution consists of the following modules:
Registrations
The Registrations module is a central repository for managing product warranty registration forms. Data is validated in real-time and automatically forwarded to product registration databases. Online registration records are immediately available to authorized participants in the service supply chain.
Claims
The Claims module is a complete solution for initiating, authorizing, transacting and tracking warranty and extended warranty claims. This module replaces manual claim forms, legacy systems and processes with an online interface that all authorized participants can access via any standard Web browser. Approved claims can be immediately paid using the Payments module. Call volume to the call center or warranty claims department is decreased and the escalating cost of a paper-based process is eliminated.
Claims Recovery
The Claims Recovery module automates the submission of warranty claims to OEMs, extended warranty providers and others who have agreed to pay for the services of technicians. Claims Recovery accepts information on service performed and determines what is claimable with business rules that business partners have pre-defined. Reconciliation functions are provided to facilitate the processing of payments and statements from warranty providers.
Returns
The Returns module enables you to process returns for exchange. Upon receipt of a consumer’s request to return a product, the Returns module determines if the product meets your predefined criteria for a return. Completion of a return authorization verifies that all required data and acknowledgements for the return are provided. Companies can save money by performing careful due diligence to ensure returns are warranted.
Payments
The Payments module provides a service for approving, editing, paying and reconciling payments of warranty claims. Administrative overhead cost is reduced. Service companies can quickly see payments that were made and their associated claims.
Claims Analytics
Claims Analytics is a powerful tool for companies to gain early insight into trends that measure the quality of service providers, the reliability of products, the frequency of parts used in repair and other factors that may help reduce warranty costs and improve customer satisfaction. Claims Analytics enable faster, more informed decision-making across the organization through the use of key performance indicators and interactive charts illustrating statistical trends that can be used to predict future performance.
