Virtual Claims Adjuster : A Better Way to Resolve Claims Faster

To this end, VCA – having the capability to handle from 60 to more than 10,000 claims a month for each client – offers easily configurable and customizable modules in both its standard and enterprise versions.Catering to the specific needs of small, mid-sized and large insurance firms at a much lesser cost than other players in the industry is yet another reason why insurance companies choose VCA.

For smaller firms, VCA has an off-the-shelf, standard license set that’s configurable and offers customizable workflowsout-of-box.For larger firms, VCA’s enterprise license provides robust customization, API and platform integrations – and a 4-to-6-week implementation cycle, during which VCA personally trains their clients to acquaint them with the system as part of the software onboarding process. In case of catastrophes, such as natural disasters resulting in a spike in insurance claims, VCA can expedite the training process and prepare clients to use its platform within a matter of hours. “We have a white-glove hand-holding exercise where we work closely with our customer success team,” Varghese mentions. Additionally, VCA runs adjuster training webinars that provide information on VCA’s numerous features and upcoming enhancements, to help them save as much as 30 percent. For one customer, VCA automated their invoicing process, resulting in savings of more than 4,500 hours every year! It’s no wonder more than 160 insurance entities across 15 countries rely on VCA’s InsureTech to help them resolve millions of claims faster.

VCA was one of the first SaaS applications in claims software. It’s an intuitive, easy-to-use system, built by an adjuster for adjusters

The cherry on top is of course VCA’s Lloyd’s certification. VCA happens to be the first software provider to comply with the stringent Lloyd’s of London Bordereau specifications. Having many Lloyd’s clients, VCA knows how to simplify reporting for the Lloyd’s market. Varghese mentions a European insurance company that specifically selected VCA as their claims engine platform to aid their business expansion goals, owing to the standards and processes developed by VCA for the Lloyd’s market. VCA helped the company develop and automate their entire claims process, leading to successful expansion in the US. “They are working with us to have VCA connect downstream with their TPAs and adjusting firms, so that we become the standardized engine across their distribution channel,” Varghese informs, adding that VCA will continue to assist the company in realizing its business goals.

The road ahead for VCA seems to be an exciting one, with data analytics and artificial intelligence joining the ride. Incorporating these is the upcoming VCA analytics engine, which, according to Varghese, will further act as yet another differentiator for VCA. Coupled with new features like payment processing capability and check writing, VCA is all set to become the game-changer in the claims management industry. And there’s more. “There are opportunities to either expand into policy management, or integrate more into policy management systems and offer a claims engine within it,” Varghese informs. Committed to expanding and innovating its product line, VCA promises to add value to the insurance industry by providing a faster way to resolve claims.