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Acrometis: Simple and Automated Claims Processing Solutions

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Chris Shannahan, SVP of Sales, AcrometisChris Shannahan, SVP of Sales
Over the years, claims processing, especially in the ever-so-competitive P&C space, has been a time consuming, workflow-intensive, and inaccurate process. From quoting to policy servicing and underwriting to the entire claims workflow process, insurers require robust automation tools to improve their company’s bottom line. More so during the current pandemic situation, “born-in-tech” insurance providers are the ones who are fast to react to changes in the market. Helping traditional insurers embrace a similar technology edge— which is imperative today— is PA-based Acrometis. “We combine the strengths of both automation and human management to evolve the P&C claims space with a refreshing hybrid approach to claims processing and reporting,” says Chris Shannahan, SVP of Sales at Acrometis. The company’s flagship solution is CLAIMExpert, a holistic and automated claim’s workflow processing platform. They offer rules-based solutions that give clients capabilities such as bill review automation, straight pay, mail processing with smart send back logic, key adjuster approval automation and decision making, and automated referrals. The company focuses on streamlining its customer’s claims and mail processing environment—maximizing cost savings, efficiency, and overall productivity.

Traditionally, most mail and bill processing are done manually by offshore BPO organizations, supported by small onshore service teams. This heavily paper-based approach is highly dependent on employee execution. In addition, insurers face a constant inflow of claims via mail and email that need to be processed and returned on a timely basis. Acrometis replaces the traditional BPO work with a software solution that provide key insights from document content and claim system information to the adjusters, allowing them to make faster and more informed decisions. The company’s solutions automate the extraction of key data from standardized forms and manage the return of incomplete documents to minimize the adjuster intervention, resulting in the efficiency gain by up to 40 percent.

“We designed the nexus between maximum efficiency supported by custom-built automation and the superior intelligence of a specially trained human workforce to minimize the uncertainty in the client’s existing process,” asserts Shannahan. The company believes in aligning the claim-based workflow solutions with business line specific rules to continually strengthen offerings for their clients.

For clients looking for a more efficient way to provide partners with claim specific information, Acrometis’ PACKETExpert solution provides a platform that allows automatic packet creation combined with accurate duplicate detection. PACKETExpert leverages document page tagging functionality, propriety rules and pre-configured packet designs to assemble packets in a pre-determined order based on their clients’ needs. This enables faster partner packet development with an emphasis on the organization and accuracy of the outbound packet contents. The PACKETExpert solution can be incorporated with CLAIMExpert, or deployed separately.

With a robust solution set, Acrometis’ primary focus is to drive intelligence, efficiency, and quality into the claim process and significantly enhance document/mail intake and custom routing process quality and accuracy. To exemplify the company’s value proposition, Shannahan narrates a case study where a client was manually reviewing all mail intake to make payment and claim decisions. This approach was inefficient and led to inappropriate medical bill payments and claim decisions for the organization. Once implemented, CLAIMExpert managed a return rate to senders of over 32 percent of all submitted documents. Ultimately, over 58 percent of the returned documents were never resubmitted for processing. This saved the client 11.1 million dollars quarterly in unnecessary payments and fees. It also allowed the client to increase the number of claims handled by adjusters by 20 percent and simultaneously allowed adjusters to concentrate on closing high-value claims faster to reduce overall claim costs to the organization.

Having scripted many such success stories, in the coming years Acrometis is planning to innovate tech that automatically determines page content, automates decisions, and ties the proper insights to specific page content sent for adjuster review. They are also looking forward to extending their solution that allows clients to re-package document content for outbound packet creation.

“In addition, we are focusing on expanding our core solutions beyond the insurance marketplace to other paper-intensive industries and rely on automation to address current BPO activities to allow clients to bring back offshore processing,” concludes Shannahan.

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Acrometis

Company
Acrometis

Headquarters
King of Prussia, PA

Management
Chris Shannahan, SVP of Sales

Description
Acrometis offers a complete and automated claim processing platform and rules-based family of solutions. The company’s flagship solution is CLAIMExpert, a holistic and automated claim’s workflow processing platform. They offer rules-based solutions that give clients capabilities such as bill review automation, straight pay, mail processing with smart send back logic, key adjuster approval automation and decision making, and automated referrals. The company focuses on streamlining its customer’s claims and mail processing environment—maximizing cost savings, efficiency, and overall productivity