Revolutionizing insurance coverage connectivity with Ivans

This text was created in partnership with Ivans.

In a current dialog with Nicole Panteloucos from Insurance coverage Enterprise, Kathy Hrach (pictured), senior vp of product administration at Ivans, mentioned how their cutting-edge know-how is revolutionizing connectivity and driving operational excellence throughout insurance coverage carriers, MGAs, and unbiased companies.

Connectivity boosts your backside line

Ivans’ superior software program facilitates seamless communication amongst insurance coverage carriers, MGAs, and unbiased companies, streamlining the switch of essential data corresponding to coverage particulars, claims knowledge, billing data, compliance kinds and different important paperwork.

The Ivans 2022 Connectivity Survey revealed that 90% of companies place extra enterprise with carriers providing connectivity, highlighting that instruments like Ivans are useful for company profitability. Nonetheless, many companies are both unaware of the complete vary of obtain companies accessible or mistakenly consider they’re using all choices.

Acquire perception with the Ivans Obtain Connections Report

Ivans boosts company connectivity by offering each its software program and the Obtain Connections Report free of charge, aiming to equip brokers with important instruments and insights for improved business collaboration.

This real-time, customized Connections report affords a complete view of present obtain connections. Hrach defined: “Companies can view all insurance coverage corporations and carriers they’re partnered with, the strains of enterprise and varieties of connections presently energetic and determine any accessible however unused choices.”

Hrach emphasised: “For instance, one company with a single provider may need the chance to attach with as much as 26 totally different strains of enterprise or varieties of downloads, enabling a wealth of data to circulation seamlessly into their system.”

This characteristic additionally advantages carriers by revealing alternatives to boost their digital operations. For instance, if an company discovers {that a} provider doesn’t supply claims obtain, they will deal with this by means of the Ivans platform.

Hrach added, “If an company sees {that a} provider isn’t offering claims downloads, however different carriers do, they will submit a request by means of our connections report. This suggestions helps carriers understand that many companies are requesting this characteristic, doubtlessly resulting in its inclusion within the provider’s know-how roadmap.”

Advantages of obtain connections

With out obtain connections, companies might really feel left behind, as they’re pressured to depend on guide entry of coverage particulars. This course of is just not solely time-consuming but additionally susceptible to errors, rising the danger of lacking important data and affecting system accuracy. Such inefficiencies can result in operational bottlenecks and diminished competitiveness available in the market.

Hrach cautioned: “Manually getting into coverage particulars for every new or renewed coverage may cause errors. With out automated obtain connections, companies danger lacking vital data and encountering inefficiencies that might influence their general efficiency.”

Ivans studies that companies can save roughly two hours per worker, per day, with automated data alternate applied sciences. Extra advantages embrace:

• Simplified workflows: A unified knowledge alternate system reduces complexity by managing a number of provider connections by means of a single workflow, enhancing effectivity and decreasing errors.
• Price financial savings: Automating doc administration decreases the sources wanted for guide dealing with, resulting in price financial savings and higher monetary useful resource allocation.
• Well timed customer support: Prompt entry to up-to-date data ensures immediate and correct responses, enhancing buyer satisfaction and retention.

Emphasizing the transformative influence of embracing digital options, Hrach concluded: “The companies which can be actually advancing ahead are those which can be taking a extra digital strategy to offering a greater expertise for their very own customers inside their company.”

To study extra about how Ivans can improve your company’s connectivity and streamline your operations, go to the Ivans website.