Milliman, STA Group Collaborate on New LTC Claims Processing Platform |
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Written by U.S. Insurance News
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Sunday, 23 March 2008 |
The reasons for needing a new platform for processing long-term care (LTC) claims are many.
LTC products are increasingly complex, for example, and the regulatory environment is rapidly changing. And don't overlook the obvious: that current claims processes are inefficient. All this leads to overpayment of claims and customer dissatisfaction.
Those are all the reasons Milliman, Inc., needs to announce that help is on the way.
The international consulting and actuarial firm reports that its STEP Solutions(r) team is working with STA Group LLC to offer customers the ability to design, build, and implement a next-generation LTC claims processing platform.
Using the STEP-FAST technology developed by Milliman, the two companies will give clients a straight-through solution for the origination, issue, underwriting, claims, and policy administration of insurance products. The solution can be designed and implemented in large, complex, enterprise scale environments.
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