MagicClaim
A solution for calculating claim payouts based on policy terms
This solution automatically calculates real-time insurance claim payouts based on policy term analysis, creating and managing rules for different accident coverage.
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Automated extraction of policy coverage
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Real-time extraction of policy coverage
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Structuring of policy coverage lists
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Classification of patterns based on policy coverage
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Automatic rule creation based on coverage
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Automatic calculation and verification of insurance claim payouts
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Claim processing and assessment automation
Claim Payout Process
Extract and database coverage information from policies, and automate insurance claim payout calculations based on rules for accident coverage and business rules.
MagicClaim automates the entire claim process from consultation and reception to assessment
and payout through integration with the solution and backbone system information.
- Backbone system
- Scope of solution
Claim
Key Features
Based on policy analysis, automatically create and manage rules for insurance claim payout conditions, improve automatic assessment rate through integration with business rules,
and establish a standardized claim process for automated claim payout calculation.
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Automated extraction and analysis of policy coverage
- Automatically extract and analyze policy coverage information and pattern classification by coverage type
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Automated creation and verification of coverage rules
- Automatically create rules based on payout conditions and map and verify company coverage codes
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Automatic calculation and verification of insurance claim payouts
- Automatically generate and verify insurance claim payout calculation rules and calculate payouts
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Real-time automatic rule creation and management
- Automatically create rules for modified coverage during product development, amendment, and renewal based on real-time changes
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Insurance claim filing and automatic assessment
- Automatically assess in real-time through integration with business rules (backbone system database) during claim filing and assessment
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Benefits
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Productivity
improvementMaximize claim process efficiency and rapidly process tasks
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Process
automationAutomatically create and manage coverage rules during product development, amendment, and renewal
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Accuracy
assuranceAccuracy in insurance claim payout calculation and prevention of insurance claim leakage
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Cost
reductionReduce assessment personnel and outsourcing costs and efficiently operate specialized staff
Functions
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01
My Page
Key task alarms (announcement feature)
Notification of important announcements
Setting of notification priority and management of deadlines
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02
Product management
Management of product information and policies
Registration of product information
Viewing, editing, and deleting of product information
Uploading of policies
Viewing and deleting policies
Mapping of coverage and benefit codes
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03
Calculation rule management
Calculation rule management
Viewing of all calculation rules
Viewing of calculation rule content
Simulation
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04
System management
Management of common codes
Management of organizational structure
Management of system permissions
Management of document templates
Management of factors
Management of fundamental documents
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05
Server management
System monitoring (CPU & memory)
System settings (configuration, logging, ports, and sessions)
Resource management (additional resource settings)
Web server configuration (port settings)
Management of database information
Viewing of ongoing tasks (service call logs)
