Trillium Software, a business of Harte-Hanks (HHS), has introduced a new Claims Data Quality solution for property & casualty insurance claims professionals.
The company said that the new solution will help insurance professionals to automate the assessment, monitoring and analysis of critical structured data, as well as unstructured data elements with free form text such as in adjuster notes.
The solution will allow insurance firms to reduce overarching expenses, maximize recovery, improve overall claims operations efficiency and identify opportunities to grow their business.
It will help to meet a number of claims-based data problems that include loss reserves, allocated expenses, subrogation and CAT recovery.
Harte-Hanks Trillium Software insurance solutions principal consultant Michael Chochrek said that insurance claims professionals are making decisions based on poor quality data, which can lead to adverse department performance due to incorrect assumptions on loss reserves, catastrophe management, subrogation maximization and litigation controls.
"Our answer to these data quality challenges is based on deep insurance claims subject matter expertise, world-class data quality assessment capabilities and a proven data quality methodology to help claims professionals understand and solve their data issues," Chochrek said.