Melbourne, Australia, May 30th, 2017 – ClaimVantage, the international provider of claim management software solutions, is partnering with MLC Life Insurance in Australia to provide the enabling technology to underpin the success of the company’s claims transformation program.
Following the initial implementation phase, MLC Life Insurance has started processing its retail Income Protection and Total and Permanent Disability claims using Claims, the company’s claim management platform. Claims is a cloud-based, automated life and health claim processing solution built on the Force.com platform.
ClaimVantage Regional Director, Geoff Street, says the software will help the life insurer make claims decisions more quickly and simply for customers.
“The claims process can often be cumbersome and complex and the Claims software can address this problem. It provides MLC Life Insurance with a centralized, digital database to store all claims information, and will improve the claim processing efficiency of all Life, Income Protection (IP) and Total and Permanent Disability (TPD) claims.”
Natalie Eckersall, Acting General Manager Claims, MLC Life Insurance, says that the claims transformation program starts with a simple objective: to support customers through their time of need.
“We want to manage claims quickly and with a minimum of fuss and ensure that our customers have a clear understanding of both the process and the timeframe for handling their claim. An example of this is the removal of traditional claims forms so that we can work directly with the customer to get the information that is required quickly and efficiently. Claims is supporting this by allowing MLC Life Insurance to capture information in real time whilst on the phone to the customer.”
“A key element of delivering our claims transformation program is to find a software system that ensures there is an effective interaction between the customer and the claims assessor. We are confident the partnership with ClaimVantage will give us the tools to provide our customers with a great claims service.”
Positive feedback has already been received as a part of the program, with one customer commenting on how “human” and “caring” the new process is.
MLC Life Insurance is the second Australian customer to launch the Claims solution. Two further prospects are currently in development this year.
ClaimVantage offers industry-leading life, health, and absence claim management software solutions for insurance carriers, Third-Party Administrators (TPAs), and large employers. ClaimVantage provides cloud-based, automated claims processing solutions that drive efficiency, accuracy, and productivity, helping its customers to deliver superior customer service.
ClaimVantage was acquired by Majesco in January 2021. For more information visit https://www.majesco.com/press/majesco-acquires-claimvantage-to-strengthen-and-scale-the-la-and-group-business/.
About MLC Life Insurance
MLC Life Insurance is a specialized life insurance business. It represents a landmark strategic partnership between National Australia Bank (NAB) and Nippon Life Insurance under which NAB retain 20% shareholding and Nippon Life hold a majority 80% of the shares in MLC Limited, the entity which operates the MLC Life Insurance business. The Australian-led and managed business aims to leverage Nippon Life’s global presence, built over 127 years, alongside MLC Life Insurance’s significant experience in understanding and meeting the insurance needs of everyday Australians since 1886.
For more information on MLC Life Insurance, visit mlc.com.au.