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Claims administration system delivery and deployment: Know your hosting options

Today’s software environment leans heavily toward cloud-based, vendor-hosted applications. However, providers that offer only that kind of solution limit both the flexibility and options available to their clients. 

Internet-based applications that can be either vendor- or client-hosted provide the most flexibility and deliver a claims solution that meets the needs of clients. That’s because while some organizations have decided they can generate better returns by focusing on their core competency—claims handling—other organizations still have valid reasons for wanting to keep their system behind their own firewalls. 

Topics: claims administration software Claims Administration 2018.10 redesign

RPA versus artificial intelligence and machine learning: not as flashy, but a strong value proposition nonetheless

When I discuss robotic process automation (RPA) with Ventiv’s clients and prospective clients, I’m often asked how RPA differs from machine learning (ML) and artificial intelligence (AI). A November 2017 article from CIO.com offers a good starting point: “RPA can include ML or AI, but it is governed by set business logic and structured inputs, and its rules don't deviate, whereas ML and AI technologies can be trained to make judgments about unstructured inputs.” 

This blog post in 30 seconds:

  • Conventional wisdom holds that for most organizations, robotic process automation (RPA) has value but is only a stopgap on the march toward artificial intelligence (AI) and machine learning (ML).

  • Conventional wisdom overlooks the great expense and upheaval usually associated with deploying AI and ML. RPA is cost-effective and deploys easily.

  • In terms of business need, RPA integrates legacy systems. These systems serve important purposes but often can’t be linked to other, newer systems by modern means of transferring information (like API and web services).

All things being equal, why wouldn’t everyone choose artificial intelligence and machine learning and their ability to learn and make judgments? In reality, all things are rarely equal, and deploying AI and ML is usually a very disruptive, costly process. Moreover, you have to ask what you’re trying to achieve; RPA, I’d argue, strives for more modest, yet imminently more attainable, goals. 

Topics: Automation 2018.10 redesign

Accommodating the priorities of today’s claim organizations

Claim organizations face a significant task in today’s environment. The escalating cost of claims continues to be a major concern. From timely incident reporting to claim accuracy, excessive administrative costs, and more, organizations need to adopt strategies to reduce costs and build an efficient and sustainable claim system. 

Topics: claims administration software Claims Administration 2018.10 redesign

Excel spreadsheet vulnerability leads to KCC’s Grenfell Tower data protection verdict

We are in the final stages of counting down to the General Data Protection Regulation (GDPR), which officially comes into force on 25th May 2018. This means that these are the final weeks for businesses to assess, implement, and amend processes to sufficiently protect any data that is collected and stored before significant penalties come in for slack information protection practices.

Topics: GDPR & Data Governance

The business case for applying GDPR-level data governance across regions

The European Union’s General Data Protection Regulation (GDPR) is upon us, becoming enforceable on May 25, 2018. It’s no exaggeration to say that achieving compliance (as well as being able to demonstrate compliance) requires that companies make a fundamental shift in how they approach data governance. Companies worldwide are struggling with the magnitude and scope of the GDPR; however, those that get data governance right can reap significant benefits.

Topics: Data Security & Cyber Risk risk management GDPR & Data Governance