Loss Reserve Approvals
Streamline and optimize the loss reserve approval process with Cflow’s automation solutions.
Why automate?
Loss reserve is an essential part of insurance claims. It involves placing some liquid assets that can be paid as a liability from future claims. This process helps in setting aside a certain amount of funds that help to ensure the insurer’s financial stability. This fund has to be accurately calculated and documented with compliance regulations.
Manual handling of this process can be cumbersome. Every policyholder’s claims have to be documented to calculate the loss reserve fund. Managing numbered data is prone to errors and risks. This can create situations of inaccuracies in the estimated amount.
Workflow automation solutions can elevate the efficiency of this process. These tools have a built-in mathematical calculation system that would determine the loss reserve fund within a few seconds. This way the process remains error-free and prone to fewer risks.
How Cflow Can Help
Transform & streamline business processes with cloud BPM & workflow automation software.
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