The International Claim Association (ICA) is an industry leader addressing key issues surrounding Life, Health and Disability claims
Portland, ME, October 13th, 2016 – ClaimVantage, the industry’s leading global provider of automated, cloud-based claims management solutions, will exhibit its latest Life and Health Claim Management technology solutions at the 107th annual ICA Conference this month. The conference will take place at the JW Marriott Orlando in Grande Lakes, Florida from October 16th through 18th. Founded in 1909, the International Claims Association (ICA) prides itself on being an industry forerunner addressing a broad range of issues related to Life, Health and Disability claims.
One of the key issues crippling claims operation efficiency today is the lingering presence of legacy software systems. Although once an industry standard, legacy systems have been rendered outdated by the rapidly evolving technology-supported alternatives available in the marketplace. Legacy systems are usually custom built in-house and typically require an internal IT-team to maintain. For insurers, this results in drained operational efficiency, decreased day-to-day productivity, and a clunky manual system unable to support the latest best-in-class technology.
Fortunately for claims departments, new, agile technology-based solutions are readily available to drive efficient, accurate claims decisions. Mobile apps and data analytics are two of the latest technology trends in the insurance industry and new best practices are constantly emerging.
So how do insurers make the transition away from their legacy system and adopt the latest and greatest technology trends? There are two options: either adopt a vendor solution or build a comparable substitute in-house. While both have benefits and drawbacks, insurers should consider the resources required to effectively build and maintain a system in-house. Software vendors invest a lot of time and money to develop these types of solutions as their core competency. For this reason, many insurers choose to leave the system development to the experts.
ClaimVantage is the leading international provider of Life, Health and Absence claim management software solutions. As a technology solution provider, ClaimVantage prides itself on continually refining its software solutions to meet changing industry trends. ClaimVantage actively promotes the latest, best-in-class software features in the evolving insurance industry.
Interested to learn more? CEO, Leo Corcoran, and Customer Support Manager, Regina Walsh, will be exhibiting the ClaimVantage claims management solutions at booth 40 in the exhibit hall. Come and see what we’re all about.
ClaimVantage is the leading provider of Life, Health and Absence claims management software solutions. Headquartered in Portland, Maine, with global operations, ClaimVantage provides cloud-based, automated claims processing solutions that drive efficiency, accuracy and productivity to a wide-range of insurance companies, Third Party Administrators (TPAs), and employers around the world, including two of the top three carriers in Canada, and two of the top ten carriers in the US. For more information about ClaimVantage, visit www.claimvantage.com.