Claims Management Filter®
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Claims-ratio improvement, 5% - 20% lower
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Claims handling: 20% - 50% lower costs
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Technical and statistical analysis
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Improving the quality of the damage repair process
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Detect potential fraud
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Updating and improving the technical rules
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The validation of a portfolio (for example: shareholders, audits, etc.)
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A review of repair companies and experts (repairer classification)
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The more efficient use of experts
Our solutions are used in 15 countries worldwide.
Why Claims Management Filter ®
CMF ®, Claims Management Filter®, is a cutting-edge data analytics tool that transforms claims handling, leading to significant cost savings and a reduction in fraudulent claims.
Powered by advanced machine learning algorithms, CMF® enhances the quality of claims processing, ensuring accuracy and efficiency.
With its global presence spanning 17 countries, CMF® has established itself as an indispensable tool for insurance providers seeking to optimize their claims management processes.
The comprehensive technical and statistical filter offered by CMF® provides a range of solutions tailored to the unique needs of each insurance company.
CMF® effectively identifies and flags potential fraudulent claims, preventing insurers from falling victim to false or exaggerated claims. Additionally, CMF® streamlines claims processing, minimizing unnecessary steps and delays.
This optimization results in faster claim resolution and enhanced customer satisfaction.
CMF® empowers insurance companies to make informed decisions based on data-driven insights, enabling them to optimize their pricing strategies and resource allocation.
By identifying patterns and trends within their claims data, insurers can proactively address potential risks and implement preventive measures, mitigating future losses.
CMF® represents a significant leap forward in claims management, offering a comprehensive and effective approach to reducing costs, minimizing fraud, and enhancing customer satisfaction.
With its proven success across 17 countries, CMF® has established itself as a trusted partner for insurance providers seeking to optimize their operations and achieve sustainable growth.
The benefits of Claims Management Filter ®
No unnecessary use of experts
CMF® determines per claim which steps need to be taken. Claims handlers are therefore only used for necessary cases.
Check each claim
CMF® carefully checks each claim for all relevant variables.
Results CMF® give guidelines
The reports that follow from CMF® provide insight into the claims handling and points for optimization.
Proactive reporting
CMF® provides monthly advice on improving technical and statistical rules.
Control of repair costs
CMF® offers optimal control with savings in both costs and time without compromising the quality of the repair.
Fraud detection
Check for fraudulent claims, because CMF® analyzes large amounts of data in no time.
Examples of parties where our software is used...
The functionalities of Integral Financial Modelling®
Technical rules
The technical rules are the business rules that a claim must meet. Examples are: “The hourly rate for labor may not be higher than € …” or “If the point of application of the damage is left, no parts from the right side may be entered.”
Machine learning
The statistical test is arranged per customer with the available data. Modern models from statistics and machine learning are used to make the test as accurate as possible.
Statistical rules
A database is formed from the customer’s data. This database serves as the basis for the statistical test for the claims that are assessed by CMF®. The database and the test are constantly kept up-to-date. In this way, the profitability of the company increases substantially!
Benchmarking
Determine on the basis of scores how a claim relates to the market. It is checked whether the costs of materials and labor are in line with similar claims.
Speed in decision
Depending on the results of the technical rules and statistical test, CMF® provides an advice that is appropriate to the method of claim handling. Possible advice is for example: A. Pay out B. Call the customer for more information or do tele-expertise C. Send an expert.
Evidence-based
Not just software, but software validated by a committee of scientists in the Netherlands.
Ai-Data
Competition and stringent regulations pose a challenge to every insurer, broker agency or expert organization.
Our partner, Posthuma Partners, an internationally oriented software house and actuarial consultancy firm, provides solutions for financial Risk Management.
Call me back
Became curious? Leave your phone number and you will be called by one of our actuaries or consultants.
Example case of an insurer
With the support of IFM® a Dutch insurer (4,2 billion revenue) made changes to the actuarial and financial department:
Past and Future
The dual model of Ai-Data looks at the past and the future. Due to the stochastic approach, the predictions are very reliable. In this way, the expectation of care procurement is optimized.
Lead time and staff
The turnaround time of estimating the technical provision was reduced and staff costs were saved considerably.
Rest and regularity
Standard procedures deliver better data quality. Deviations are therefore better detected.
Integral Financial Modelling®
Review insurance portfolios through stochastic modeling. Determine the strategic route and substantiate it with figures.