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Forget Everything You Know About Claims Management

November 18, 2021

In a market where customers must be fought for tooth and nail, ensuring a frictionless claims process is a key priority for insurers of all sizes. Insurers know that any misstep in the way they adjudicate, communicate, and pay claims can be a crucial trigger for customers to switch to a new provider.

A poor claims experience may even have otherwise satisfied customers looking for the door. The financial impact of customer churn can be immense. In fact, customer attrition can threaten the financial standing of an insurer that is unable to stop the defection of customers to its competitors.

Yet many insurers are struggling to meet ever-increasing customer expectations and stave off dissatisfaction. Digital platforms have made it easier for customers to more frequently compare providers.

Rising Policyholder Expectations

As in other areas of our consumer lives, policyholders have made their expectations clear. They want a claims process that is fast, transparent, and supports their preferred engagement channels.

Young policyholders who are accustomed to digital, 24/7 interactions are leading the way.

The implications of these trends must be unsettling to insurers with outdated paper-based approaches to managing claims. For most insurers, the process of approving documents and initiating payments costs too much, takes too long, provides inadequate visibility, heightens the risk of fraud, and falls short of policyholder expectations.

Consumers spend almost:

arrow$2.4 trillion annually on insurance premiums worldwide

arrow$20 billion annually on global travel insurance premiums alone

But policyholders can be excused for wondering what they get for their money. A paper-based claims submission process can result in weeks of back-and-forth calls and e-mails gathering information and approving documents. And it can take an insurer seven to 10 days to process a paper check for an approved claim. The time it takes to collect information and print, sign, and mail a check is time that a policyholder can’t access much-needed financial relief.

At a time when credit cards can be instantly issued, consumers can be pre-qualified for loans within minutes, and cars can be purchased online, there’s no excuse for slow claims management processes.

An End-to-End Approach to Claims Management

A new solution that combines e-signatures and instant payment capabilities into one pre-integrated platform offers insurers a way to digitally adjudicate, communicate and pay policyholder claims. Claims that used to take weeks or days can now be paid in hours or minutes.

Here’s what this end-to-end approach to claims management means to insurers and beneficiaries:

  • Claims documents and evidence are submitted to the insurer electronically
  • Case management workflows route claims for approval or additional information
  • Beneficiaries and other decision-makers receive digital documents to review and sign, and the payment process is triggered
  • Beneficiaries are electronically notified of claim payment instructions
  • The beneficiary selects their preferred method of payment and provides payment details
  • The beneficiary receives a digital payment in near real-time to any payment card or account

All this is made possible by a collaboration between Transcard, Adobe, and its Adobe Sign e-signature solution, and Mastercard with its Mastercard Send instant payments platform.

And the solution can be tailored to the needs of major insurance providers as well as other businesses.


The result is a far cry from outdated, paper-based claims management processes. Online forms, digital workflows, and e-signatures eliminate the friction of paper processes and the back-and-forth process of approving payment documents. Instant payments put money into the hands of beneficiaries fast.

Online forms and electronic payments can be processed at a fraction of the cost of paper documents and paper checks.

Identify verification and validation, PCI and HIPAA compliance, and elevated fraud prevention and compliance secures sensitive data. And integration with any existing claims management system ensures the bi-directional flow of data.

Hawaii Employers’ Mutual Insurance Company (HEMIC), Hawaii’s largest provider of workers’ compensation insurance, is helping develop the end-to-end solution to fully digitize its claims adjudication, communication, and payment process.

1 (2)Claimants upload their documents, which go through a fast, secure, and compliant digital workflow.

2-2The claim is approved for payment and sent to the beneficiary for electronic signature via Adobe Sign or flagged for additional information.

3-1Claimants are instantly notified of claim payment instructions and then select their preferred method of payment, such as Mastercard Send, a payments platform that enables people and organizations to send and receive money in near real-time, domestically and cross-border.

Streamlining the claims process and providing workers’ compensation beneficiaries with instant access to much-need funds is critical in times like these. And digitizing the claims process is helping HEMIC reduce the costs of making workers’ compensation payments by more than 50%. Insurance providers of all sizes can benefit from automating claims management end-to-end.

Transform Your Claims Management

Delivering an exceptional claims management experience is critical for insurers.

The end-to-end solution enabled by Transcard SMART Disburse, Adobe Sign, and Mastercard Send is making it a reality.

Replace your outdated, paper-based claims process with a digital end-to-end solution today.
claims management


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