What is it and how to control it?

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For managers within an insurance company, effective accident management becomes a priority to protect resources, minimize risks and ensure that the operation remains stable in the face of possible incidents or interruptions.

In this article, we will delve deeper into accident management, the key benefits of controlling it appropriately and how an integrated solution can optimize this process, providing greater security and operational stability to companies.

What is accident management?
Loss management is a fundamental process for companies that seek to protect their assets and minimize the risks of economic losses and damages.

This process includes several stages, from the number library prevention and diagnosis of risks to the support of the compensation process when an accident occurs and the support of the insurance company is required .

In short, it is about the integral management of accident events, such as accidents, robots and material or infrastructure damage, stipulated in the client's insurance policy.

The importance of good management in this field has increased, especially considering that only in 2023, insurance companies in Brazil will pay more than R$ 200 thousand million in compensation and benefits.

What are the benefits of accident management?
However, it is clear that this process is capable of bringing innumerable benefits to insurers , especially in terms of stability and continuity; However, here we tell you the most important ones.

Customer Experience
Loss management, when carried out efficiently, allows you to respond quickly and precisely to customers facing an eventuality.

Being on the ground guarantees a quick and effective resolution of problems , which also contributes to customer loyalty, which values ​​support and empathy in critical moments.

According to Insurance Innovator, 95% of executives consider the claim process a decisive opportunity to gain or lose the loyalty of their insured.

Cost reduction
Through constant and detailed analysis of risks and the most frequent incidents , companies can implement preventive measures that avoid or mitigate the financial impact of losses.

This approach helps to reduce expenses associated with accident coverage, ensuring that company resources are used efficiently.

Processing time
Asimismo, gives companies the ability to process and resolve incidents quickly, which is crucial for operational continuity.

When an accident of great magnitude occurs, the speed with which operations are resumed can mark the difference between recovery and prolonged interruption of activities.

Elimination of manual tasks
Finally, by adopting technological solutions for accident management, companies can automate repetitive tasks and eliminate manual work, which allows teams to focus on strategic and high-value activities.

Using technology , discover how you can take accident management to the next level of efficiency in your organization.

What technologies help with accident management?
The management of accidents within the scope of insurance and other sectors increasingly depends on advanced technology to speed up processes, improve precision and reduce response times; those who are dominating the sector.

claims management

Process Automation Software (BPMS)
A robust BPMS allows you to configure and automate all stages of claims management, with approval and control levels at each stage. It also facilitates the real-time follow-up of requests and the identification of improvement opportunities and bottlenecks.

Optical Character Recognition (OCR)
OCR is a technology that allows you to digitize and extract information from printed documents , such as complaint forms, receipts and other supporting documents.

Thanks to its ability to quickly convert printed text into digital data, OCR facilitates the processing of large volumes of information, allowing claims management teams to capture details of complaints without the need to enter data manually.

Data extraction using Artificial Intelligence (AI)
This technology identifies and organizes relevant information in real time , which reduces the time needed to process each complaint and minimizes the margin of error.

Furthermore, AI allows access to valuable information to evaluate the risk and define response strategies that are best suited to each case.

Natural Language Processing (NLP)
In the management of accidents, this technology is fundamental for analyzing the texts of complaints, identifying employers and extracting specific data from reports written in natural language.

The NLP also facilitates the analysis of communication between customers and the support team, helping to identify the tone, urgency and key details in each request.

Machine Learning (ML)
Thanks to ML, accident management systems can identify employers, predict probabilities of certain types of accidents and optimize work flows for each case.

Furthermore, the ML helps to improve accuracy in fraud detection, based on the identification of anomalies or unusual patterns in the data of complaints.

Why automate complaints management?
Automating complaints management has become a strategic necessity for companies looking to improve operational efficiency, reduce costs and provide a more agile and satisfactory customer experience.

With automation, repetitive and manual tasks, such as data entry and document review, are managed more quickly and accurately , which significantly reduces human errors and optimizes process time.

Furthermore, automation allows you to monitor and analyze data in real time, giving companies the ability to make informed decisions and continually improve their processes.

Are you looking to bring this approach to your business? Learn how technology can help.