Paid in full 99% of health insurance claims submitted to them in the year ending 31st of March 2016
(PRWEB) April 27, 2016
Insurance and financial services companies have long carried the reputation of making it easy for people to pay their premiums but for not being so attentive when it comes to paying claims.
Principle Assurance, the long term licensed international insurance company has made inroads at overcoming this image by confirming that they paid in full 99% of health insurance claims submitted to them in the year ending 31st of March 2016.
The insurance company, which focuses primarily on the underwriting and provision of health insurance, life insurance and international savings plans, has made significant modifications to the way in which it manages claims from clients. The most significant step being the outsourcing of all claims to an independent third party in early 2015 that ensures that claimants receive a balanced customer friendly experience that is targeted on customer satisfaction rather than just bottom line.
Jonathan Wright, Head of Underwriting at Principle Assurance said, "we have been able to make savings by streamlining the process and pass on these savings to our clients; by fast tracking the average claim our operational costs are reduced by around 50% which allows us to pay claims at a higher ratio than most in our industry."
In addition to outsourced and fast tracked claims processes, Principle Assurance has also introduced scanned claims facilities where clients can easily email their claim in without the need to send original receipts and forms.