INF announces new Technology Ventures Group
INF, a pioneer leveraging technology in the travel insurance industry, announces the launch of their Technology Ventures Group.
By: INF Group
In terms of automation, Dr. Rao is referring to several on-going projects- including a completely digital claims process for health care related claims- a first in the insurance industry. Project lead Ronnie Patel says, "This is a big issue and source of waste in the insurance industry in general. Literally tens-of-thousands of man hours are spent filing and preparing physical claim forms." He continues, "And moreover, most claim forms these days are still submitted through post mail, not even taking advantage of EDI Payor numbers. We're developing technology, as well as an incentive structure, which will help providers get claims to us faster, which in terns allows us to adjudicate and pay the claims at a fast rate. This obviously makes the customer happy and the provider happy."
But it does not end there- INF is trying to upend the claims process entirely. A study by the company found that there are large discrepancies between medical blue book value for services in certain geographies, and the rates being charged by providers. INF is developing a tool which sources data from multiple blue book sources to compute a realistic value of a medical service. By finding these discrepancies, INF stands to save millions of dollars in paid claims- and benefits of these savings will be ultimately be passed on to the consumer with lower rates and higher benefit limits.
INF invests heavily into technology to empower providers, claims, and most importantly clients. TVG is only one part of their sprawling operations, which includes heavy investment in digital media, publications, and community service project. Visit http://www.infplans.com (http://www.example.com/
Founded in 1988 as a technology oriented firm, INF spurred many innovations in the travel insurance industry. In 1995, they were the first organization to bind policies via faxed applications, and in 1997 they were once again the first organization to accept application via online portal. At the core of INF is a technology firm using its resources to help the traveling public. By utilizing strengths of technology,