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Volume : I, Issue : VII, August - 2011 A Study on Straight Through Processing In Medical Insurance Operations with special focus on Claims Processing and Settlements Prof CM Maran,Prof B Ravikumar DOI : 10.9780/22307850, Published By : Laxmi Book Publication Abstract : The insurance services industry is currently under pressure from a number of
directions. Regulation and other government initiatives; product commoditisation;
increased competition; and a rapidly changing distribution landscape are all
eroding profit margins. At the same time, consumerism and the media; more
powerful distributors; and today's retail experience have all combined to raise
customer expectations. Success - or even survival - will require companies to
significantly reduce their cost base, while delivering higher standards of service to
both customers and distributors. The new business model must thus radically
streamline operations, through techniques like Straight through Processing (STP)
and intelligent automation, which provide immediate responses while reducing the
cost per transaction. The winners will do this in a 'customer friendly' way that
delivers a consistent customer experience at all touch points, building improved
service into the fabric of the organisation - but with much lower operating costs.
Flexible and designed to scale with your business, STP-i can deliver the required
operational efficiencies, whilst providing a platform to support industry leading
service levels. Keywords : Article : Cite This Article : Prof CM Maran,Prof B Ravikumar, (2011). A Study on Straight Through Processing In Medical Insurance Operations with special focus on Claims Processing and Settlements. Indian Streams Research Journal, Vol. I, Issue. VII, DOI : 10.9780/22307850, http://oldisrj.lbp.world/UploadedData/385.pdf References : - Article named “Stream lining Policy Administration” published in www.sap.com
- www.focus.heailh.in
- www.hdfcmediclaim.in
- HealthServices@Tata-AIG.com
- www.sap.com/industries/insurance./streamliningpolicy
- www.cgi.com
- “Accelerated claims processing with greater accuracy for less money” an article published in www.emc.com/captiva
- www.jdidata.com
- www.starhealth.in
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