Streamlining Insurance Claims with Corticon’s High-Performance Batch Processing

In an industry as data heavy as insurance, processing time and accuracy has a huge impact. Learn about Corticon’s batch processing capabilities.

Organizations are increasingly inundated with vast amounts of data that need to be processed quickly and accurately to drive timely decisions. This is especially true in data-intensive industries like insurance, where companies must rapidly analyze large volumes of claims data, often within tight monthly and quarterly deadlines. Being able to process this data efficiently can significantly impact a company’s operational performance and competitive position.

This is where Progress Corticon’s batch processing capabilities come into play. As a leading business rules management system (BRMS), Corticon helps companies optimize their data processing, automate complex decision-making and scale their operations more easily.

Let’s take a closer look at how Corticon is changing the way insurance companies handle their most challenging data issues.

Accelerating Data Processing Speed

One of the biggest advantages of using Corticon for claims processing is the sheer speed at which it can analyze and process data. Faster claims data processing means claims can be resolved and settled more quickly, which is especially important during those crunch times when the volume of claims spikes.

With Corticon’s batch processing, insurers can process massive batches of claims data in a fraction of the time it would take with manual processing or less advanced systems. This is possible thanks to Corticon’s highly optimized inference engine for executing your business rules and its efficiency at retrieving data.

Corticon’s batch processing uses the Advanced Data Connector (ADC) to efficiently retrieve large datasets from databases. ADC provides granular control over the SQL queries used to fetch data, which is essential for optimizing performance when dealing with complex data relationships. The Corticon batch controller can chunk through data efficiently, passing records to the decision service for processing.

For policyholders, this faster processing speed translates into a better customer experience. When claims are settled promptly, customers feel valued and well taken care of. They’re less likely to get frustrated with slow processing times or to switch to another insurer. In an industry where customer retention is crucial, the ability to process claims quickly can be a significant competitive advantage.

Accuracy and Compliance

While speed is important in claims processing, it can’t come at the expense of accuracy. In the heavily regulated insurance industry, accuracy is absolutely essential. Inaccurate claim settlements can lead to various problems, from customer complaints to compliance issues and legal challenges.

Fortunately, accuracy is another area where Corticon excels. The platform includes a user-friendly rule modeling environment that allows business experts to define and manage the complex business logic that governs claims processing. Corticon uses a highly visual, spreadsheet-like interface to represent this logic, making it easy for non-technical users to understand and modify the rules as needed.

But Corticon doesn’t just make it easy to define rules—it also helps users to implement those rules consistently and correctly. The platform includes robust validation and testing tools that allow rule authors to thoroughly verify the accuracy of their decision logic before deploying it. This helps catch potential errors early in the process, when they’re much easier and less costly to fix.

Corticon’s built-in tester allows you to execute rules as though they were deployed, verifying that they function correctly and monitoring for any changes in behavior. This testing capability is invaluable for validating decision logic and the accuracy of the rules.

Driving Cost Efficiency and ROI

For insurance companies, as with any business, operational efficiency is always a top priority. The more efficiently you can process claims and make decisions, the more you can reduce costs and improve your bottom line. Corticon’s batch processing capabilities offer a powerful tool for boosting efficiency and reducing costs in claims processing operations.

By automating the decision-making process and minimizing the need for manual intervention, Corticon can help insurers dramatically reduce the time and resources required to process claims. This automation not only speeds up the process but also frees up claims adjusters and other staff to focus on more complex, value-added tasks.

Corticon’s efficiency advantages come from its ability to execute rules very quickly and to scale that execution based on the volume and complexity of the data being processed. This scalability means that insurers can process more claims data without a proportional increase in infrastructure or hardware costs—essentially, doing more with less.

Elastic Scalability for Growing Data Needs

In addition to processing speed, efficient batch processing must also be able to scale to accommodate growing data volumes. As businesses expand and data sources increase, the underlying decision platform must be able to handle this growth without performance issues.

Corticon’s batch processing is built for scalability. The platform’s architecture can scale both vertically (by adding more CPU and memory resources) and horizontally (by distributing processing across multiple server instances). This allows organizations to easily increase their decision processing capacity as data volumes grow, without the need for extensive re-architecting.

Enabling Data-Driven Decisions and Insights

While the primary focus of batch processing is often on execution speed and throughput, it’s important not to overlook the analytical benefits it can provide. By processing and analyzing data in large batches, organizations can uncover valuable patterns, trends and insights that might be missed when looking at records individually.

Corticon’s batch processing capabilities, coupled with its advanced data integration features, make it easy to consolidate data from different sources and analyze it holistically. Insurers, for example, can combine batch data from policies, claims, customer interactions and risk assessments to gain a more comprehensive view of their business.

More Seamless Integration for Improved Automation

To fully harness the power of batch processing, it’s essential that the decision platform integrates with both upstream and downstream systems. Data must be able to flow efficiently into the decision engine, and the resulting decisions must be propagated to the right downstream applications and processes.

Corticon offers a wide range of integration options to support decision automation. From web services and REST APIs to native interfaces for Java and .NET, Corticon can fit into virtually any enterprise architecture. The platform’s extensive data connectivity provides multiple options for high-performance data integration.

For insurers, this integration flexibility is key to achieving straight-through processing. Corticon can ingest batch data directly from policy administration and claims management systems, apply automated decision rules, and pass the processed claims back downstream for further processing and payment. By eliminating manual handoffs and decision bottlenecks, insurers can significantly streamline their claims handling process.

Case Study: Major Insurer Transforms Claims Processing with Corticon and Sitefinity

A leading provider of travel insurance was looking to make the process of purchasing insurance and filing a claim as transparent and streamlined as possible for its over 1 million customers. They needed a highly automated solution that could delight customers while being flexible enough to adapt to changing requirements and regulations.

The company chose Progress Corticon for its powerful low-code rule modeling capabilities. Business analysts were able to model complex claim business rules without writing code and use these rules to dynamically control the claim submission forms. This bolstered accuracy and consistency across the business process and user experience, while reducing the burden on IT.

The insurer also leveraged Progress Sitefinity, their trusted web content management system, to build the customer-facing portal. The smooth integration between Corticon and Sitefinity was vital to the project’s success.

“In the long run we wanted Corticon to be a business tool that non-IT users could readily develop, maintain, update and change,” said the company’s director of eServices and user experience. “Our goal is to scale it to meet varying needs across the organization.”

The results have been impressive. The combination of Corticon and Sitefinity is estimated to have saved the company thousands of developer hours, with business users now able to make updates to both the business logic and the dynamic forms. The customer experience has also improved by “leaps and bounds,” with universally positive feedback from users.

You can read the full case study here.

Concluding Thoughts

As data volumes continue to grow and customer expectations for fast, personalized service rise, the need for efficient batch processing will only become more pressing. With Corticon, insurers have a proven platform for automating high-volume decision processes, improving operational efficiency and delivering better customer experiences. The result is a more agile, profitable and customer-centric insurance company.

Book a demo to see for yourself how Corticon works in action.