iVOS

Today, the insurance industry faces significant cost and operational issues. Most financial transactions occur electronically in real time, leveraging data to enhance performance. Insurance—with its claims, policy, and billing transactions—has traditionally lagged behind in achieving efficient, cost-effective administration and data-driven management.

The industry has attempted to improve business processes, but operations are predominantly characterized by manual, paper-intensive procedures. In addition, claims and other insurance transactions typically occur in silos with various departments owning point solutions and separate databases. This disjointed infrastructure hampers efficiency and optimal business performance.

ONE SYSTEM, ONE SOLUTION FOR ALL YOUR INSURANCE TRANSACTIONS

To address these challenges, Aon eSolutions offers the iVOS insurance solution. This one system serves as a single solution for all your insurance transactions, including:

• Claims administration­   – a complete set of claims automation tools to deliver administrative savings, streamline workflow, reduce claims costs, and control expenses in high-cost areas
• Policy and Underwriting – a wide array of capabilities to develop, process, and administer policies, as well as underwrite and rate coverage
• Billing – a full range of billing functions to automate the billing process and maximize your revenue
• Medical cost containment – a comprehensive offering with iVOS Bill Review software and services, as well as utilization review and case management, to get your medical costs under control.
• Event reporting and management – ability to capture information immediately after an event or incident, providing an opportunity to prevent claims and losses from ensuing in the future
• Document imaging – scanned documents and electronic files enable clients to move to a “paperless” business environment with seamless data-driven workflow and management

By managing all these business processes for multiple lines of insurance, iVOS helps organizations undergo an extensive process transformation from disjointed and inefficient—to integrated and streamlined. iVOS is highly flexible and can be customized to meet any organization’s unique business requirements. Companies can leverage iVOS as an integrated “one-system” solution or they can simply select the components they need.