Possible solutions for your business
InVuite will play an essential role in helping insurers to decrease cycle times and increase customer satisfaction. For example, today, the underwriting process of life insurance policies can easily take 3 weeks. For customers, this process is depressing because it takes too long and they have no overview regarding the status of their policy. It’s a black box to them. While the front office processes directly engaging with the policy holders are optimized and digitalized, the back office lacks innovation in many cases. The retrieval of necessary medical information for life insurance policies is just one example of widely paper backed and manual information retrieval processes that can be significantly improved by InVuite.
Medical and primary care providers such as hospitals and doctors will benefit from InVuite in various ways. Today, most of the process of retrieving medical information for insurance causes is done manually. In practice this means that the doctor will in many cases answer the necessary questions handwritten. Subsequently, the document needs to be scanned and sent back to the insurer by an employee. InVuite will improve this process significantly. The doctor will receive the questionnaire via an online smart form directly on his device and will only be required to respond to the relevant questions filtered through the smart form. Returning the form to the insurer will just take one click and save working hours and money on both sides. The hospitals and doctors will not have to change their entire ecosystem because the InVuite platform is easily to integrate into the existing ecosystem.
There is an abundance of third party administrators (TPAs) in South East Asia with little to differentiate from one another. Therefore insurers can pick and choose TPAs for their claim outsourcing processes. Hence, it is key for the TPA to constantly improve and innovate to achieve competitive advantage over their competitors. InVuite’s services will be useful to complement the TPAs’ business by automating some of the paper backed and highly manual processes and therefore eliminate redundancies, ultimately making their offerings cheaper, better and faster.