Newgen Claims Processing vs. EvolutionIQ

Optimize the entire claims process by automating every stage, from the initial loss notification and fraud detection to adjudication and final settlement. This system allows for the distinct handling of various claim types, such as death and maturity claims, while ensuring strict compliance with regulations to avoid any penalties. You will experience enhanced efficiency and accuracy in processing through features that manage data collection, oversee payments, handle salvage and recovery, process legal cases, and offer thorough monitoring. Additionally, the effective registration, adjudication, tracking, and oversight of all claim submissions are ensured. The integrated business rules facilitate automatic categorization of claims into “fast track” or “non-fast track” groups. Furthermore, you can effortlessly add or modify stakeholders involved in the claims process—such as garages, assessors, loss adjusters, surveyors, investigators, and claims officers—to boost operational efficiency. This all-encompassing strategy not only streamlines workflows but also promotes collaboration among all participants in the claims process. Finally, by implementing these enhancements, organizations can significantly improve their overall claims management experience.

Our cutting-edge solutions contribute to decreased loss costs, lower expenses, and heightened customer satisfaction, proving their value through collaborations with leading carriers. EvolutionIQ is pioneering the transformation of the claims management process for complex coverage lines, promoting a strong partnership between skilled professional adjusters and a specially crafted predictive guidance system. By offering clear prioritization, timely claim alerts, and extensive context, empowered adjusters can effectively reduce losses and costs while improving the claimant experience. This method also reduces unnecessary fluctuations in the claims process by utilizing a consistent and scalable guidance framework. Moreover, it enhances the allocation of adjuster resources, resulting in fewer redundant claim evaluations and enabling focused investigations that help prevent litigation and guarantee prompt settlements. Our claims AI systematically collects and employs data to provide the strategic insights essential for your team’s achievements. In addition, EvolutionIQ merges both structured and unstructured data from carriers with our proprietary third-party data, boosting overall operational efficiency and effectiveness. This collaboration not only simplifies workflows but also positions your organization for enhanced success in the claims domain, ultimately leading to a more reliable and efficient claims resolution experience. As we continue to innovate, our solutions adapt to the evolving needs of the industry, ensuring that your organization remains competitive and responsive.