Smarter Handling of Claims in Axon with Posthuma’s Claims Management Filter (CMF®)
Keylane is delighted to offer Axon users improved efficiency, more control over their business and increased cost reductions through CMF’s AI powered smart solutions, as Keylane and Posthuma establish an eco-partnership to further enhance the already rich functionality of Axon.
Claims Management Filter®
The Claims Management Filter (CMF®) is a real-time software tool that applies predictive analysis and machine learning (AI) to benchmark and handle all insurance claims in Axon. Advanced statistics and intelligent reports provide management with the tools to improve the quality of the claims process.
With over 20 years’ experience, Posthuma are an internationally recognised software house with professional actuarial consultancy. By combining actuarial knowledge and management know-how into high-level software it offers a ‘must have’ tool for every P&C insurance company, broker agency or expertise bureau wishing to see improved results across their core business.
The claims handling process knows several critical decision points that determine cost, speed and quality. CMF® makes continuous improvement of these decisions possible through the creation of a unique statistical real-time database that contains all claims and cost data and is continuously updating and ‘learning’. CMF® has been proven to reduce loss ratio, and can be up and running in just a few weeks.
With CMF® every decision is traceable, as up to 70% of claims can go ‘straight thru’ (STP). This enables claim’s handlers to only work on claims that demand extra attention. For example, claims that have been submitted but may be violating business rules, or that appear statistically suspect.
In terms of operational cost reduction, CMF® has been shown to increase cost efficiency by up to 50%, and has been successfully implemented in more than ten countries across Europe and Asia.
Axon: Extending the Core
With Axon, our end-to-end standard solution for insurance, we help you to improve your digital capabilities, accelerate your time to market and adapt to market requirements quickly. With guaranteed service quality for predictable costs. And, to support niche solutions and customised operational approaches, we have built our standard Axon platform with an open pluggable architecture, extending its shelf life indefinitely, and ensuring it can seamlessly and effortlessly integrate the technologies of tomorrow into your production ecosystems of today.