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Claim Management Processing Services

Hvantage Technologies is an ideal partner for insurance claims management as we are driven to give high-quality service within short turnaround times.We offer customized platforms, processes and resources specially designed for your business requirements.Our comprehensive array of insurance services ensures that all your requirements can be met within one place.

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Claim Management Processing Services

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  1. Claim Management Processing Services A good claims’ experience is a prominent key to improve customer retention and safeguard a company’s brand proposition! HVANTAGE TECHNOLOGIES INC. 23463 Haynes St. West Hills Los Angeles California 91307

  2. 1. Introduction 2. Why outsource Claim Management Process? 3. Benefits 4. Our Claim Management Services 5. The Hvantage Technologies Advantage 6. About Hvantage Technologies 7. Our Other Capabilities Table of Contents

  3. The insurance industry is undergoing a major transformation partly due to disruptions brought in by new technology, changing customer behavior and demographics, and new distribution models. ● In addition, insurers are grappling with economic uncertainty, low interest rates, global climate catastrophes and rigid local and global regulations. ● Introduction Insurance companies eventually have to focus on reducing cost structures, embedding big data analytics and technology for better customer insights and improved business outcomes. ● Hence, effective claims handling becomes imperative to maintain healthy operating and loss ratios. ●

  4. Best Solution is to Outsource!

  5. With market deregulation and escalation in risk as a result of natural disaster and terrorism looming large, the insurance industry is facing a lot of cost pressure. ● But, Why Outsource Claim Management Processing? Any industry with an immediate need for cost cutting is an ideal contender for offshoring. ● If your organization has to manage large volumes of insurance claims administration, outsourcing this task will be cost-efficient. ●

  6. To improve the efficiencies of their processes for administration of claims, more and more of leaders in the insurance industry are turning towards outsourcing. The benefits that can avail through outsourcing of insurance claims processing include the following: Benefits Customer service of a high quality in spite of business volume fluctuation Greater accuracy in settlement of claims Fraudulent claims management Greater customer satisfaction Reduction in operations cost

  7. Insurance Claim Setup ● Insurance Claim Eligibility and Estimation ● Our Claim Claim Management Management Services Services Claim Document Imaging ● Adjudication on a fast track ● Adjudication of full claims ● Subrogation ● Claim Support and Auditing ● Settlement of documents and Accounts ● Legacy Application Modernization ● Disbursement ●

  8. Our General Process!

  9. 1. 2. 3. 4. Enter Assignment into Xactware: ● Property Owner / Risk Information ● Claim Information ● Client Group ● Policy Information ● Coverage Details ● Add Mortage Holder Loss Notice / Personal Rule- Once we enter assignment,each client has Adjusters as per the loss city and send notify about adjuster information to us. We check this and send adjuster details to Desk Adjuster by using standard format through Xact. Adjuster Document Management- We upload document of adjuster received on email to Zoho crm. ISO Entry of Proctor Assignments We run daily report and generating ISO results from regular process. Once we get ISO results we need to upload document in respective assignments. 8. Creation of Main Invoices- Once Claim gets closed we receive email from reviewer to create invoice. We check that assignment and create invoice in QB as per applicable billing schedule. Also send invoice to Desk adjuster or assigned email id where needed. 5. 6. 7. Service Center Map: We run daily report and generating Service Center Map given Link. Once we get service center map we need to upload document in respective assignments. Rechecking of assignments and Cat Code: We run daily report and match with Cat Report. If there is any discrepancy we need to update Cat code in respective assignments. Creation of $0 Invoices: Once new assignment is entered in Xact, We create invoice again new assignment in QB with “Zero” amount.

  10. 12. 9. 11. 10. Creating Pay Roll- We make Pay Roll on fort nightly basis and send to all adjusters via email so that adjuster can come to know about payment with all details. SIMS Payment Entry – After creating invoices we enter same amount in SIMS so that client can pay the amount. Receive Payment- We make all invoices paid in QB against which we received payment. Transfer Request – After creating invoices we enter same amount in SIMS so that client can pay the amount. 15. 14. 13. Reconciliation of Monthly Payment v/s Invoice – We reconcile all the payment received against invoices we made. If we found any discrepancy we mention in our notes and send back to respective person. Replies of Emails and Queries- In addition with all above we monitor email account and reply to all emails where needed. Paid Marking- After making pay roll we mark all these assignment as paid in QB, so that there will be no outstanding show in QB. Apart from all these process we complete all other task which we received from Client.

  11. Our team at Hvantage Technologies is dedicated to adding value by generating savings, improving and increasing your core process capabilities by speedily and seamlessly migrating your processes: We provide end-to-end services across the claims value chain for personal and commercial lines of businesses including specialty lines. From First Notification of Loss (FNOL) to assessment, claims adjudication, subrogation, reserve management and payments. We reduce transaction processing time without compromising on quality and accuracy of transactions We provide compliance with state, federal and industry regulated guidelines. We offer customized platforms, processes and resources specially designed for your business requirements. ● The Hvantage Technologies Advantage ● ● ● ●

  12. About Hvantage About Hvantage Technologies Technologies

  13. Founders: Founded in 2011 by Neelesh Jain - serial entrepreneur in telecom & real estate Locations: 2 offices in Indore, India with 150 technology and operations team Expertise: Development Support, Back Office Support, Customer Support, E-Commerce Management Support, Offshore & Outsourcing Support Services Domain Expertise: Healthcare, Banking, Finance, IT & Technology, Internet, Shared Economy, and e-Commerce Lean Operating Model: Sales and support in US & operations in India Our Clients Our Clients ● ● ● ● ● - -

  14. Our Other Capabilities….

  15. Technology Capabilities User Experience (Web, Mobile, Desktop & Internet of Things) Product development and management Mobile, Web, Desktop Application Design and Development Technology Services Business Process (Rules, Workflow & Transactions) Desktop and Infrastructure Support Business Intelligence & Analytics (Insights & Trends) Big Data (Preparation & Processing) Design Support Build Manage Data Store (Real-time & High Performance) Onsite creative team to design multi-platform dynamic effective user interfaces. Continuous improvement, product support & training. Analysis, Development & Quality delivered using Agile Process. Product management, strategic alignment & architecture assessment.

  16. Operations Capabilities 24/7 operations support across three countries USA (Onsite), Brazil(Near Shore) and India (Offshore) High tech operations office in India Expertise in ECommerce, Logistics, General Administration, Accounting Desktop and Infrastructure Support Talent Efficiency Care Security Our talented operations team is fluent in English, trustworthy & experienced in operational management & execution. We provide competitive advantage to our customers with operational innovation and efficiency. We have carefully built a culture where customer is our first priority. We practice industry standard technology & processes to secure your information.

  17. Mobile Capabilities Native mobile applications (iOS, Android & Windows) Dedicated onsite designers and developers. Faster time of market with existing tested mobile components to plug in. End to end development including deployment to app store. SEO Plan Design Idea Generate relevant traffic to your website from various search engines Meticulously thought out design & development, SEO , E-Commerce and Back Office support services Hvantage creates designs that reflect client’s outlook Using innovative ideas & result-oriented implementations to develop successful digital strategy for your business

  18. Our Offices Office No. 1 Office No.2 18

  19. Hvantage – India Location – Indore City Indore is an inviting opportunity with quality infrastructure at low cost. - Talent/Opportunities: Only city in India with the presence of most reputed international colleges Indian Institute of Management (IIM) and Indian Institute of Technology (IIT). There are over50 colleges and educational academies in Indore feeding the talent to domestic & international businesses. - Cost: A Tier 2 city, keeps the TCO almost half of the big 5s. • Comparing to Los Angeles its half in area and population (562 sq/km for 2.1 Million). • Indore has 2 operational and 1 proposed IT park, with presence of InfoSys, TCS & Collabera. • Indore is connected with an International Airport & Rail/Road. • Bus Rapid Transit system keeps traffic in control. • Indore provide the key ingredients of life including great weather, food variety, entertainment parks, sight seeing, malls, hospitals, sports institute, education and a family friendly place to retain the talent. • Resources: Wikipedia, IIM Indore, IIT Indore

  20. Hvantage India Offices State of art facility center in Indore, India Hvantage’s India office is a state of the art facility designed around maximum productive software development environment. The open floor design encourages communication and collaboration, both between techies and with our clients. • 8000 sq. feet professionally arranged space (2 offices) • Seating capacity 150 associates • 6 manager’s cabins • 24 hours power backup • Large conference rooms • Internet connection up to 100 mbps, multiple leased lines for client requirements • Ample parking space • 24 hours security guard • Server room with restricted access 20

  21. HVANTAGE TECHNOLOGIES INC info@hvantagetechnologies.com CONTACT www.hvantagetechnologies.com Address: 23463 Haynes st West hills Los Angeles California 91307 Phone:+1-323-250-0588 , +1-347-918-3427

  22. THANK YOU!

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