Pacific Life Re has launched its Claims Rules Engine (CRE) to transform claims management for insurers, superannuation funds and distributors, off the back of UnderwriteMe’s Underwriting Rules Engine success last year.
In its consumer testing, the CRE enabled participants to lodge income protection claims in an average of 10 minutes, and the system scored over 90 per cent positive feedback for ease of use.
The CRE would fully automate initial and ongoing assessments to support comprehensive straight through claims management capability, assessors would save 1.5 to two hours of their time in the initial assessment of a claim by automating the data collection and admin process.
It also includes business analytics that capture data and create an information system that understand trends in claims experience, which can be used to continually improve the claims rules.
Managing director of Pacific Life Re Australia, Andrew Gill, said the platform was like nothing else on the market, and was confident it would take the insurance sector by storm.