Treat information as an asset that supports cost-effective and efficient service delivery
Poor document management and a lack of oversight can leave highly sensitive data vulnerable to theft. If sensitive client or company information is compromised in any way, your firm’s reputation could suffer heavily.
Monitor and report on sensitive data like customer information, credit card data, financial assets; and regulated data like PII and PHI. Audit data access and permissions to sensitive information and gain full visibility into file activity and user behavior.
Organizations face substantial business risk due to tremendous amounts of regulation and litigation. Insurance providers for these companies can reduce this risk (and therefore their own risk) by ensuring their clients have defensible and transparent methods for enforcing document retention policies and responding to document requests during litigation or investigation.
Rational Governance allows for true compliance with retention and production obligations, thereby diminishing the potential for large claims against D&O and E&O insurance. Risk reduction for insurance providers can also mean a competitive advantage in the way of premium reductions for clients.
Underwriting & Claims Processing
Insurance companies need to quickly and accurately identify submissions they may want to underwrite. Rational Governance can significantly improve the existing process for underwriting certain insurance policies by enhancing the accuracy and efficiency in receiving, prioritizing, underwriting, and binding new requests. RG’s integrated machine learning can be used to build models to identify submissions that are both valuable and likely to be bound. These same modeling techniques will also prove useful in processing claims, helping insurers flag claims for further investigation, uncover fraud, and determine reimbursement.
Claims review often involves data from a variety of sources including the client, claimant, and third-party service providers. Use Rational Review to easily aggregate and review documents relating to a claim in a central UI. RR’s powerful search and analytics tools will help uncover key facts and findings so that the appropriate judgement can be rendered.