Claims adjusters face a combination of challenges that can make their already demanding work more difficult to execute. While doing their best to manage claims and serve clients, most find themselves juggling large caseloads and under pressure to make constant decisions about each and every case they are responsible for. The fast pace and volume of work mean that it’s common for claims adjusters to wonder whether they are routinely making the best decisions about things like choosing outside counsel and helping to control litigation costs.
Passport® is here to help. Passport is a technology platform that makes a claims adjuster’s workday easier by helping them to:
- Manage litigation
- Manage e-billing
- Review law firm performance
Technology that boosts performance
With Passport, managing a litigated claim from start to finish is easy, in part because it leverages artificial intelligence (AI) to gain insights that humans don’t have time to uncover. Passport integrates seamlessly with claims management systems, so claims adjusters just open a case in their existing solution and then, when they are ready to assign a law firm, Passport provides AI-powered predictive analytics based on the specifics of the matter itself.
Passport predicts what each firm’s budget should be, determines the expected cycle time of each, and ranks outside counsel firms based on their predicted performance. To provide the most accurate predictions, Wolters Kluwer’s data scientists work with each client to combine their historic case data with Wolters Kluwer’s legal industry benchmarks to build a custom data model. Passport also reflects the preferences of every client by assigning weights to each metric so that the predictive analytics reflect the specific priorities of the individual claims department. This ensures that the firm rankings in the list are matched to the client’s particular business goals.
Support at every stage of a claim
As the lifecycle of the claim continues, Passport offers further help in managing it. The solution supports close collaboration with outside counsel and lets claims adjusters keep up to date on submitted vs predicted budgets and drill down into budget phases to identify and address any irregularities. When an invoice is ready for review, Passport’s advanced bill review technology, known as LegalVIEW® BillAnalyzer, uses a combination of AI and human expertise to catch errors, increase billing compliance, and control costs, helping to meet the business goals of the organization.
Once a matter is complete, claims adjusters rate law firm performance on a number of key metrics, so that every member of the team can see the ratings and make more informed decisions when the time comes for them to make firm assignments. These ratings, along with other case-specific information is then fed back into the Passport machine learning technology so that the system can improve at detecting unique nuances and anomalies. This is a crucial step that makes future predictions even smarter, allowing Passport to continuously improve its support for claims adjusters.
Passport improves claims adjusters’ confidence that they are making the right decisions and gives them more time to focus on higher-value work where they can make the biggest impact for the organization. It supercharges teams, so they can gain a competitive advantage and provide better service to policy holders. In short, Passport is a game changer.