Insurance claims management software can streamline intake, evaluation, validation, payouts and closure. Unfortunately, not all platforms are built to the same standard. If insurers want to maximize their time and financial gains, they need to review a claims management comparison to determine which solution is right for them.
What Is a Claims Management Software Platform?
Claims management software helps insurers process, evaluate and manage customers’ insurance claims.
This end-to-end solution offers tools when the first notice of loss is reported. It typically facilitates communication and documents changes until the policyholder — or the designated beneficiary — receives payment or the company officially closes the case.
Traditionally, insurers manually collect, organize and analyze relevant information like policy numbers, coverage details, witness statements and evidence.
They store records in filing cabinets, transfer documents with fax machines and mail important updates to customers. Digitization enables them to streamline these workflows.
Why Insurers Need Claims Management Software
The point of claims management software is to make insurers’ jobs easier. Organizing the claimant’s details, validating claims, preserving records and ensuring compliance are complex tasks. Closing claims can take weeks, months or even years. For instance, auto accident settlements can take up to two years to resolve.
Digital platforms simplify these processes by placing all claim lines in one place, making them easily searchable and shareable. Many software solutions have workflow automation or organization tools to increase convenience and accelerate turnaround time.
This way, insurers can handle more claims in a shorter period, pleasing customers and lowering costs (see How Can AI Change Insurance Claims Management?).
Reducing operational costs is among the main reasons for adopting a claims management platform. It helps insurance firms identify and resolve inefficiencies, decreasing expenses like wages and legal fees.
It also makes detecting fraud easier, potentially significantly lowering payout amounts, depending on how often policyholders try to deceive the company.
Most insurers would see substantial savings from enhanced detection because insurance fraud has become common in the industry. According to Deloitte, 60% of insurers agree fraud significantly increased from 2021 to 2023. Another 10% reported a marginal increase in that period, demonstrating how severe this problem is.
The Top Cloud-Based Claims Management Software
| 1 | APP Tech | The top claims management software solutions in North America |
| 2 | ClaimsPro | Platform for property and casualty insurers |
| 3 | Snapsheet | Top claims management software solution rated four out of five stars |
A claims management comparison with high-quality examples can help industry professionals decide which platform is right for them. Here are some of the top claims management software that are either cloud-native or cloud-based.
1. APP Tech
APP Tech is among the top claims management software solutions in North America. Because this platform is cloud-based, parties can access documents and complete tasks regardless of their location. Plus, companies can expand their storage space or computing power with a few clicks — making investing in on-premises hardware unnecessary.
In addition to enabling scalability, APP Tech expedites workflows. Its analytics tools, automated follow-up actions, pre-defined payment approval rules and built-in report library make finding, evaluating and closing claims much faster. Professionals can manage all claim lines within one system, enabling simplified, on-the-go access.
| Top Features | Description |
| Rule-based automation | Easily automate notifications, reports and follow-up actions. |
| Customizable dashboard | Personalize dashboards to see all relevant data at a glance. |
| Real-time alerts | Send notifications to stakeholders and policyholders in real time. |
| Third-party integrations | Enhance efficiency by seamlessly integrating third-party tools. |
2. ClaimsPro
ClaimsPro is a platform for property and casualty insurers. While an at-a-glance claims management comparison reveals it does not offer the same level of customizability as APP Tech, it does allow users to configure workflows, notifications and dashboards to some extent. Its various add-ons accelerate intake, policy retrieval and claim litigation.
| Top Features | Description |
| Configurable dashboards | Move and resize user interface elements. |
| Central repository | Store data in a single place for easy access. |
| Complementary add-ons | Enable additional functionality for various administrative tasks. |
3. Snapsheet
Snapsheet is a top claims management software solution rated four out of five stars on a leading peer-to-peer review site. Notably, it is slightly behind top-rated alternatives. The main complaint users have is its price. While convenient and easy to navigate, other platforms offer a similar experience for much cheaper.
This cloud-based claims processing software lets insurers access claim details, messages and media regardless of location. It also automates communications, speeding up the intake and evaluation processes. The various digital financial tools greatly simplify payouts and claim closure.
| Top Features | Description |
| Digital payments | Electronically receive payment requests and transfer funds. |
| No-code workflows | Set up automated actions without coding. |
| Third-party integrations | Seamlessly set up third-party tools. |
| Virtual appraisals | Guide policyholders in uploading photos to help appraisers. |
The Top On-Premises Claims Management Software
| 1 | BriteCore | Claims management platform for property and casualty insurers |
| 2 | Guidewire | Claims management end-to-end P&C solution that covers every step from intake to closure |
| 3 | Claimable | Basic software solution for small and mid-sized businesses |
While cloud-based and on-premises solutions are similar, they vary in a few major ways. A separate claims management comparison highlights those differences, helping decision-makers decide which is better.
1. BriteCore
BriteCore is a platform for property and casualty insurers. It allows them to easily track losses, verify coverage, and issue payments. It streamlines core workflows by automating repetitive processes and digitizing administrative tasks. Although its features are relatively basic, they will work for small and mid-sized firms.
| Top Features | Description |
| Pre-populated fields | Automatically populate text fields when initiating claims. |
| Self-service portals | Set up self-service portals for policyholders and agents. |
| Digital payments | Schedule partial payments or send payouts to multiple parties. |
| Mobile app | Access claims digitally via a mobile app. |
2. Guidewire
Guidewire is a claims management software platform focused on property and casualty insurance. It is an end-to-end solution that covers every step from intake to closure. While it has cloud features powered by Amazon Web Services, they are technically separate from its primary ClaimCenter service.
| Top Features | Description |
| Claim litigation tools | Track claim details and negotiate payouts. |
| Rule-based automation | Allocate workflows and follow-up actions. |
| Claim intake tools | Streamline intake with policy search and retrieval questions. |
3. Claimable
Claimable is a basic software solution for small and mid-sized businesses. Organization is its underlying goal — it makes folders, notes and inboxes shareable. With filters and labels, agents can quickly find the case they are looking for. This way, there are fewer data entry mistakes like accidental entry duplication.
| Top Features | Description |
| Shareable notes | Stay on the same page with shared claim notes. |
| Pre-populated fields | Automatically populate core workflow activities. |
| Daily task summary | See the day’s tasks and their due dates at a glance. |
| Cloud storage | Store policyholder and claim data in the cloud. |
Choosing Between The Top Claims Management Software
Even after reviewing a claims management comparison, insurers may not know which solution best fits their needs. This is normal — software can look great on paper but not feel right post-implementation.
For those who are still undecided, scheduling a demo is the best option.
This way, they can try a solution and get a feel for it before committing (see New Era of Insurance Claims Management and Customers Experience).
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AUTHOR: Peter Sonner — Beinsure`s Tech Editor, 10+ years of professional experience in insurtech sector and technologies market.
