Global Excel Management Modernizes Claims Experience with Appian Connected Claims
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Insights
The partnership between Global Excel Management Inc. and Appian, focusing on the implementation of the Appian Connected Claims Solution, represents a strategic move in the insurance technology (insurtech) space. This collaboration underscores a growing industry trend towards digital transformation aimed at enhancing operational efficiencies and customer satisfaction. The deployment of such technologies can potentially lead to reduced operational costs and improved profit margins for Global Excel, which in turn could positively influence Appian's market share and revenue streams within the insurtech sector.
By integrating AI and process automation, Global Excel is positioning itself to streamline its claims management process. This not only has the potential to expedite claim settlements but also to improve data quality and reduce claims leakage. For stakeholders, this could mean improved earnings due to increased efficiency and customer retention resulting from enhanced service delivery. The ability for business users to configure workflows without IT intervention is particularly noteworthy, as it represents a shift towards greater agility and responsiveness in the insurance industry.
The announcement of Global Excel's adoption of Appian's Connected Claims Solution is likely to be of significant interest to investors of both companies. For Appian, this represents a validation of their low-code automation platform and its applicability in the insurance sector, which may lead to increased investor confidence and potential stock appreciation. The emphasis on reduced project deployment times, from months to mere weeks, showcases Appian's competitive edge in rapid implementation, a key factor for technology adoption in the fast-paced business environment.
From a financial perspective, the adoption of Connected Claims by Global Excel could translate into cost savings and enhanced fraud detection, which may reduce financial losses and improve the bottom line. The mention of improved fraud management is particularly important as it directly impacts profitability. Investors should monitor the performance metrics post-implementation, such as claim processing times and customer satisfaction scores, to gauge the financial impact of the technology integration.
The technical aspects of Appian's Connected Claims Solution, such as its data integration capabilities and the provision of a 360-degree view of claims data, are critical for the insurance industry's push towards digitalization. The ability to connect disparate systems, including Guidewire, Amazon Connect and Salesforce, is a significant technical advancement that can lead to more informed decision-making and streamlined operations. For IT stakeholders, the value proposition lies in the solution's adaptability and the empowerment of business users to manage workflows, which can reduce the burden on IT departments and accelerate digital transformation initiatives.
Appian's low-code approach is particularly relevant for the insurance industry, which often faces challenges with legacy systems and the need for rapid adaptation to regulatory changes. The Connected Claims Solution's emphasis on AI and automation is a forward-thinking approach that can potentially reshape the industry's IT landscape, leading to greater efficiency and agility in claims processing and fraud detection.
Claims portal and First Notice of Loss process deployed in less than 12 weeks
Through this intelligent and connected approach to claims management, Global Excel Management aims to further expedite claim settlements, reduce costs, and enhance the customer experience. Using Appian's adaptable workflows, Global Excel successfully implemented a claims portal and First Notice of Loss (FNOL) intake process in less than 12 weeks. Connected Claims also provides business users with the capability to configure workflows without IT intervention, facilitating a swift onboarding process for new institutions and policies. In the next phase of the project, Global Excel will focus on the adjudication of the entire claim process.
"As a worldwide expert providing a comprehensive range of healthcare risk management solutions, we needed a partner who could help us navigate the technological intricacies of our industry with heightened efficiency, while maintaining a commitment to operational excellence and client-centric service," said, Kelly Maurice, VP of Digital Solutions, Global Excel Management. "With Connected Claims our goal is to unify and extend data, optimize our first notice of loss and claims intake, and accelerate the entire claims process."
Top benefits of the Appian Connected Claims solution include:
- Connected data and systems. Unlock a 360-degree view that extends the value of claims software such as Guidewire, Amazon Connect, and Salesforce.
- Accelerated time to settlement. Automate claims processes to improve data quality, reduce claims leakage, and increase straight-through processing.
- Delivery of a seamless customer experience. Create a total experience that spans web and mobile devices for customers, employees, and partners.
- Improved fraud management. Enhance fraud detection capabilities to prevent payouts on suspicious claims or initiate Special Investigation Unit (SIU) referrals for further investigation.
"The era of prolonged, cost-prohibitive modernization projects is behind us," said Sanat Joshi, Executive Vice President, Product and Innovations at Appian. "Insurance companies need technology that helps them adapt and evolve quickly. Appian's integration of people, automation, AI, and data in unified workflows, delivered at low-code speed, means insurers can imbue transparency and efficiency into their claims environment. We are excited to support GEM on their transformation journey."
To learn more about Appian Connected Claims, visit: https://ap.pn/42HKRsd.
About Appian
Appian is a software company that automates business processes. The Appian AI Process Platform includes everything you need to design, automate, and optimize even the most complex processes, from start to finish. The world's most innovative organizations trust Appian to improve their workflows, unify data, and optimize operations—resulting in better growth and superior customer experiences. For more information, visit appian.com.
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About Global Excel
Global Excel Management Inc. (globalexcel.com) is a full-service provider of global healthcare risk management solutions. Global Excel, together with its subsidiaries based in
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