Claims and Settlements Management

STEP claims management allows for claims referrals and claims to be initiated by beneficiaries in the case of life claims or by claimants and beneficiaries, in the case of health claims.  The claims process can be initiated online or through other channels, such as voice-xml, call-center claims servicing or through the policy-holder portal. The rules for managing the claim process is configured using the Product Configurator and are based on the product provisions and claims provisions for the LAH product. Each claims transaction and its requirements are handled as part of the business process management. The rule base monitors activities during the process and each process workflow is automatically adapted based on the requirements status during the process.

Settlements and payouts for one-time and recurring payouts are managed as part of the product provisions and the actual settlement options indicated and allowed for the LAH product. The settlements are managed as part of a business transaction and facilitated by the straight-through processing interfaces to external data and external integrations to financial institutions, government and consumer data sources.