Claims management software makes claims process swifter and smarter

rers beware fraudulent claims are reportedly costinginsurance companies 1.6 billion a year, with each claim averaging 800. The goodnews is that smarter, more efficient and flexible claims management software fromAquariumClaims now makes the case handling process easier for claims companies, thushelping to avoid insurance fraud. The Association of British Insurers (ABI) said between March 2006 and March 2007 onein every 11 claims made on general insurance policies, including home and contentscover, mobile cover and pet insurance, was fraudulent. Of these, 85% involved thepolicyholder exaggerating a genuine loss, fake claims and claims on property thathad been deliberately damaged. Nearly half the detected fraud was on household insurance policies, with the scamsexposed including deliberate damage done to carpets. Insurers uncovered dishonestclaims worth 1.3m a day three times the figure in 2003. The ABI said it believedfalse claims worth a further 1.6 billion were going undetected each year. Proper handling of claims is therefore vital for the insurance industry. New andimproved case management software from AquariumClaims makes the process simpler,smarter and swifter for claims companies. AquariumClaims is a state-of-the-artclaims management software solution specially designed for fast growth claimscompanies. Version 2.1 delivers even more benefits to the user, further speeding upthe claims handling process. Fraud has always been a problem for claims companies. But increasing numbers ofprofessional swindlers are coming up with savvier scams, while customers not fullyaware of their insurance policies are unwittingly committing fraud. Thus, it isbecoming harder for claims handlers to detect fake claims. AquariumClaims helpsmakes the job easier. The new easy-to-use features in Version 2.1 make it an evenbetter product, delivering greater simplicity and reliability to the claims handlingprocess, said Aquarium s product marketing director Mark Colonnese.Claims software from Aquarium has been designed specially for claims handlingbusinesses. It is quick to set up and is available at a comparatively lower cost. Ituses the latest web-based technology giving users a powerful solution at a cost thattraditional software providers cannot match. Aquarium has set up a 60 second online test which allows claims companies tocompare their current processes with state-of-the-art claims processing usingAquariumClaims. The test is free and confidential, and the results are emailed backimmediately to the user. Interested claims managers can take the AquariumClaimsonline test at www.aquariumclaims.com.For further information contact Aquarium Software, free of charge, on 0800 781 7570or visit www.aquariumclaims.comNotes to editorsTraditional software is installed locally on the user s own server, so requires theuser s IT staff to install and update the software. By using a Software as a Service(SaaS) model, Aquarium does away with this, taking care of installation, maintenanceand upgrading of the software as well as secure data storage. The company has alsorevised its pricing model so, instead of the traditional upfront license costs,ongoing maintenance charges and heavy consultancy set-up fees, Aquarium can offerusers faster start-up and much more flexible pay-as-you-go pricing, if they want.

Source: Express-Press-Release.com

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