New Age Assets for ­Fig­hting Insurance Fraud

Read Now

Touchless Claims

The claims process is crucial in the insurance value chain and weighs heavily on customer loyalty and retention ratios. Hence, sustaining a consistent quality of service delivery has become inevitable. Insurers must continue to re-invent, innovate, and optimize in managing claims cycle by focusing on loss payouts, fraud management, and expense control. Modern claims platforms and digital technologies, known as Touchless Claims, offer solutions to these challenges.

LTM’s Touchless Claims Ecosystem is the perfect balance of Generative- AI and human interaction desired in the claims process. After all, claims are the moment of truth from a customer experience standpoint. It brings intuitive human-centric design, persona-optimized processes, the power of Gen AI, a plethora of third-party data, and easy connectivity to an insurance enterprise through native APIs.

The solution supports the claims operations team, field/ remote adjusters, and specialists with the following:

  • Capturing all details at the onset
  • Predicting claims journey and reserves
  • Fraud propensity and detection
  • Concierge connectivity
  • Personalized response, decision transparency, and documentation support

What the Touchless Claims Ecosystem Offers

01

A simplified and personalized FNOL experience

02

Advanced claims visualization

03

Virtual assistance (AI-based) for critical
decision-making

04

Real-time claims monitoring

05

A single view of the claims journey

06

A cognitive claims experience

07

Adaptive claims workflow

Functions and Features

Customer-centric claim model, using a combination of physical and digital claim channels and hyper-care claims services
Optimized claim payouts using fraud control, accurate payout estimation, and risk prevention techniques
Operational efficiencies through claim lifecycle automation and digital claim adjustment process
Proactive catastrophe response strategy through advanced impact analysis, resource planning, and mitigation techniques
Enabling surveyors to assess the full impact of catastrophes on insurance claims to allocate resources to the site judiciously
Advancing fraud management strategy with monitoring of key performance indicators
Boosting the efficiency of the claims adjustment process with integrated image-capturing and video-sharing tools
Diagnostic toolkit, which highlights strengths and areas of improvement for every step of the claims process

Business Benefits

Annual reduction of 10% - 12% in claims leakage

15% improvement in net promoter score

Reduction in medical bill claim cycle time by 20%

Annual reduction of 2% – 2.5 % in loss payouts

A 1% reduction in claim leakage through Advanced Fraud Analytics

Enhanced legal management application helps save about USD 60 million in annual legal expenses

Are you
ready?

The most forward-thinking leaders aren't just adopting new tools. They are taking Business Creativity to the next level. To not simply outperform the market, but to Outcreate it.

It’s time to Outcreate

Outcreate Your Business

Outcreate with LTM

Outcreate Together

It’s time to Outcreate

Accessibility Modern Slavery Statement Privacy Statement Responsible Disclosure