QAS software helps insurance carriers improve productivity

Manual address collection methods across multiple entry points create operational problems for various departments of an insurance organization, including underwriting, claims and customer service. Further, policyholder addresses are often provided as incomplete or inaccurate, negatively affecting critical processes such as rating and customer communication.

An address is key to the objective of every insurance organization, yet many organizations still struggle with these challenges everyday. Incorrect addresses entered by agents and data-entry staff causes:

• Inefficient operations because critical processes that depend on addresses may not wait for the data to be checked for its accuracy
• Decreased rating accuracy because policies are based on invalid addresses
• Lost claim or policy information when addresses are first entered as inaccurate, causing headaches for staff to research the correct ones
• Negative impact on revenue collection because claims checks and other critical communications are not received due to bad addresses
• Diminished customer satisfaction when critical documents are not received in a timely manner and policies have to be changed due to inaccurate rating

The solution? Real-time address verification

QAS' data entry tool, QAS Pro, provides instant and accurate address verification for policy processing, claims and customer service departments. Easy to install and simple to use, QAS Pro works with almost every database, including legacy systems.

Insurance organizations can also use QAS Pro Web, the real-time address verification for agent portals or websites. Our Web-based address verification tool is compatible with all commonly-used Web technologies and platforms.

Benefits for insurance organizations:

Improves efficiency of data entry: On average, addresses can be entered in 10-15 keystrokes, drastically reducing the time it takes to enter addresses while ensuring every customer touch-point collects accurate information before critical processes start using the data.

Ensures precise rate quoting: Whether information is gathered through field or call center agents or via the Web, insurance organizations can be confident that they are quoting potential customers accurately and competitively because addresses are verified in real-time.

Maintains timely policyholder communications: Critical, and often private, communications are received on-time and by the intended recipients when addresses are verified as accurate at the start of every policyholder relationship.

Supports revenue collection: Checking addresses at the point-of-entry means bogus addresses can be flagged for deeper investigation and private documentation is sent to the correct and complete address for your customer, reducing financial organizations' vulnerability to fraud.

Enhances customer service: Policyholders will experience better customer service because their information is accurate and they receive policy and claims information on-time, minimizing any issues with the insurance carrier.