Beware of platforms that do not allow access to your data

In a data driven business world it is imperative to have oversight on your data. Beware of this big industry red flag...

Do you have access to your own database? 

One of the major red flags to watch out for when dealing with technology vendors is data access restrictions. If your vendor does not provide you with access to your own database, it can severely limit your ability to build real-time reporting. Instead of being able to generate live reports, you will have to wait for the vendor to do a data dump, which can potentially remove your competitive advantage. 

When looking for a claims management provider, it is important to investigate the access you will have to your data. To better understand the needs of clients and provide an efficient claims cycle process, it is imperative that you have oversight of your live data to analyse, interpret and implement changes and improvements where required.  

You should acquire a platform solution that provides access to all your data in real-time. You should also expect in-built analytics solutions where you can generate live reports that can be customised to your needs.  

Data insights drive revenue and skyrocket client satisfaction:

• Workflow automation - Check you have a sufficient workflow management and task based activity system within the platform that can collect real-time data points, enabling businesses to focus on insights and taking actions to drive business growth and success. 
• You can track Key Performance Indicators (KPIs) to enable teams to track customer advocacy, manage revenue and expenses, and identify opportunities to drive customer satisfaction. 
• View live and historical data - take advantage of a wide range of chart and graph types to visualise data at any date range. 
• API first – integrate directly with data analysis solutions for a live data feed. 
• Custom data sets - create unique data sets and dashboards for each stakeholder. 
• Build predictive insights and integrate AI sources to help direct the business capacity and performance.