Claims Subrogation Platform
Intercompany claims recovery is met with many challenges – massive volumes of claims data, highly manual and time-consuming procedures, extensive paperwork, and courier exchanges. Individuals who represent the respective insurance companies often lack visibility on claim statuses and encounter long reconciliation timeframes and substantial costs.
Beyontec’s Claims Subrogation Platform provides seamless reconciliation of outstanding claims and recoveries between insurers and a virtual communication mechanism through which to share information.
Platform Highlights
Beyontec’s Claims Subrogation Platform is one of the most comprehensive and easy to deploy solutions available for insurance companies. This ready-to-start platform enables insurers to minimize missed recovery opportunities, reduce loss costs, and resolve claim reconciliation challenges.
Cloud-Based Platform
Beyontec’s Claims Subrogation Platform is an easy to implement, highly secure platform that can be integrated with any core insurance system.
Real-Time Recovery Claims Reconciliation
Beyontec’s Claims Subrogation Platform is designed to help insurers connect, review, and process outstanding recoveries in a fully transparent, quick, and efficient way.
Real-Time Validation of Policy Details
Beyontec’s Claims Subrogation Platform validates and extracts relevant policy data in real-time and distributes the information appropriately to the processing insurer.
Reduce Claims Recovery Processing Time
Beyontec’s Claims Subrogation Platform allows the online exchange of information between insurers while minimizing manual interventions and providing transparency and efficiency.
Real-Time Access to Insurers
Beyontec’s Claims Subrogation Platform is an ecosystem through which insurers can instantly connect and conduct business with other insurers using the platform.
Real-Time Notification to Third-Party Insurer
Beyontec’s Claims Subrogation Platform provides an intelligent workflow engine that manages the claim request from entry to settlement. Third-party insurers can track recovery stages using historical data.
Reconciliation of Information
Beyontec’s Claims Subrogation Platform helps insurers connect, review, and process outstanding recoveries posted by and against third-party insurers.
Rule-Based Automated Recovery
Beyontec’s Claims Subrogation Platform allows recoveries to be automatically processed using universal thresholds or insurance company specific parameters.
Centralized Platform
Beyontec’s Claims Subrogation Platform streamlines inter-company claim recoveries using a transparent, efficient, and real-time process.
Secured Platform
Beyontec’s Claims Subrogation Platform’s provides powerful authentication tools, microservices, and data encryptions.
Dynamic and Real-Time Dashboards
Beyontec’s Claims Subrogation Platform allows users to view and generate information from dashboards and operational reports upon demand.
Audit Trail and History Maintenance
Beyontec’s Claims Subrogation Platform maintains historical details of all transactions. Date and time stamps guarantee compliance and eliminate misunderstandings.
Paperless Processing
Beyontec’s Claims Subrogation Platform is completely digital, starting with notification and continuing through claim settlement. Information is passed electronically, eliminating paper, print, and mailing costs.
Threshold-Based Auto Approval
Beyontec’s Claims Subrogation Platform allows insurers to define universal thresholds and business rules from which the platform can automatically analyze, approve, and settle claims.
Document Management System
Beyontec’s Claims Subrogation Platform stores all related documents in a centralized repository, significantly reducing call times for system users. Documents may be stored in multiple formats including PDF, Microsoft Excel, and Wav.
Global Search
Beyontec’s Claims Subrogation Platform provides a global search feature that instantly retrieves claim information based on keywords. The platform will also search for keywords within stored documents, making it easy for users to locate pertinent information.
