Strengthening customer relationships and bolstering profits

Market pressures are demanding unprecedented levels of customer service from insurance companies.  In order to increase market share and consumer confidence while reducing combined ratio, insurance companies are looking to improve operational efficiencies and remove silos within their organizations.  To strengthen consumer relations and bolster profits, they are focused on promoting a reputation for handling cases quickly, fairly, and accurately.

Claims litigation, subrogation, and insurance fraud – traditional insurance challenges – are aggravated with increasing compliance pressures as new regulations begin to take their toll.  Consumers know that insurance carriers who fail to prevent fraud, regulatory fines, and other expensive exposures, pass off costs to customers in high premiums.

Consequently, insurers are looking to implement solid risk management strategies as an integral part of business strategy to protect market credibility and customer loyalty.

How TeamConnect Helps

On a single platform, Mitratech’s TeamConnect solutions manage claims litigation, corporate legal, compliance tasks, and security incidents for a complete enterprise-wide risk management solution.  Using TeamConnect, Mitratech clients better manage compliance with state and federal mandates.  Insurers gain visibility into insurance fraud, strategically manage subrogation, and develop performance reports with full transparency.

TeamConnect allows internal departments to collaborate on a comprehensive risk management strategy with full visibility into:

Legal

• Claims litigation
• Class Action
• Corporate legal
• Employment
• Contracts
• Mergers & Acquisitions
• Regulatory
• Environmental
• Advice & Counsel

Compliance

• U.S. Patriot Act
• Sarbanes-Oxley (SOX)
• National Association of Insurance Commissioners (NAIC) requirements
• State Privacy Regulations
• Disclosure Laws
• Federal Employees Compensation Act (FECA)
• Anti-Money Laundering (AML) Provisions
• Suspicious Activity Reports (SAR)
• Office of Foreign Assets Control (OFAC) & Customer Due Diligence
• Health Insurance Portability & Accountability Act (HIPAA )

Security

• Fraud & Forgery
• Counterfeiting