First Notice of Loss

For Insurance companies, First Notice of Loss (FNOL) is one of the most important processes in the claims-management lifecycle. It is the highest value customer touch point and thus represents an opportunity to build customer loyalty. It is meant for client care and service at first point of contact.

The FNOL process involves accessing multiple legacy systems and the existing systems for content management and customer relationship management. Due to delays in updating information in all corresponding systems, accurate status is not readily available to everyone which impacts reporting.

Challenges faced by Insurers in the FNOL process:

• Delayed claim status reports or closure notification to agents and claimants.
• Low productivity due to the long time it takes to register a claim as details from different systems need to be verified. The process comprises manual intervention which results in higher claim processing cost.
• Reduced efficiency due to manual errors and disparate claim information across multiple systems.
• Intense training required for customer service representatives to attain proficiency in claims processing leading to higher training cost and time.

Innitis First Notice of Loss solutions

Inniti Alliance combines domain knowledge expertise and business technology Implementation to design a FNOL application across all lines of business, which can guide your customer service representatives through the process using a highly intuitive and context-driven user interface leading to speedy resolution of customer queries.

We have a vast experience in designing and implementing highly intuitive business rules and workflow driven FNOL applications.

Designed as an interactive tool, our FNOL solution is meant to guide customer service representatives through the loss reporting process, using a highly integrated and context driven user interface while obtaining more accurate and relevant facts about the loss being reported. Inniti’s FNOL solution can support multiple lines of business and can intelligently route the reported loss to the appropriate claims handling system based on the policy data.