Cobourg, ON (Mar. 28, 2022) – Cognition+ Inc., a leading insurance technology provider, announced today the launch of a new claims management solution for its Policy Administration System which enables property and casualty insurers to digitally transform their claims management processes. The Cognition+ Claims solution, in conjunction with Cognition+ Policy and Underwriting functions, delivers an enterprise-level experience in managing policyholder relationships in a digital world. Specifically, the Cognition+ Claims solution provides best-in-class workflows through task and document management, relationship governance, and guided work plans to assist in fulfilling the claims process.
The Cognition+ Claims solution offers a frictionless experience in claim settlement. The solution streamlines communication across omni-channels and, offers transparency for complex claims resolution. With a combination of case management, catastrophe claim event management, and simplified sub-file management the solution ensures speedy claim settlement. The solution’s comprehensive reserve and claim payment functionality allow for multiple payees and multiple payment distribution methods. It also offers an efficient approach to manage deductible and reinsurance as well as salvage, subrogation and recovery.
“The key to digitizing the claims process is recognizing that each claim can be different. Our solution balances efficiency and flexibility, while comprehensively supporting the end-to-end claims process. We ensure that the user can layer in the necessary workflows as the claim increases in complexity. The reality is, claims start out simple but can get complex very quickly. Our products are digitally transforming insurers so that they can interact with all stakeholders from policyholders, business partners, sales channels and reinsurers – in a digital way. This simplifies communications and speeds up claims resolution while ensuring everything is transparent and fully documented”, explains Matthew Scott – President & CEO of Cognition+ Inc.
The Cognition+ Platform utilizes industry-leading security protocols and incorporates user-roles and permissions for secure and definable access and authorization, fulfilling current and future privacy requirements. Cognition+ Application Programming Interfaces (APIs) allow for easy system integration with 3rd party claim vendor products, regulatory compliance (e.g. Accident Benefits) and straight-through processing. Insurers that leverage the Cognition+ Consumer Mobile Application solution can provide a modernized claims First Notice of Loss process for policyholders.
“We spent considerable time and effort designing the Cognition+ Platform and it really shows through on the claims side as the product is tailored both to the adjuster and to the management of the department. Our unique approach to views and filters in combination with workflows, documents and notation management ensures all levels of the organization know the status of any given claim when authorized. As a company, we leverage Design Thinking principles to make intuitive products, reduce the need for training and ultimately simplify Insurance for both our clients and their policyholders. We know claims are tough on people, both the claimant and the adjuster, so we endeavoured to build a frictionless solution, which delivers positive outcomes”, asserted Allan Hope, Product Owner – Cognition+ Inc.
Cognition+ is an insurance technology provider that empowers insurance companies of all sizes to digitally transform and gain a 360° view of their business. In addition to a fully customizable Enterprise Insurance Management Platform, Cognition+ offers on-demand support, connectivity, cybersecurity, and development services. Established in 1996, and wholly-owned by its clients, Cognition+ has strong longstanding relationships with insurance and technology partners focused on innovation and mutual success. For more information, visit gocognition.com.
SOURCE: Cognition+Tags: claims solution, Cognition+, launch, Next Generation Platform, solution, Transformation