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Data Conversion Services For The Insurance Industry
Risk Technologies provides unparalleled knowledge and experience in analysis, management, reporting, enhancing, and converting insurance related data.
We understand that the data is the key.
Data Conversion — A Case Study
In 1995, RTI developed a PC based Claims Management / Reporting system for an insurance company's construction claims group. Part of the process involved converting and updating from internal systems. Our successful conversion led to an introduction to the Vice President of Claims/TPA services, who described this dilemma:
- 30+ TPAs sending loss data and/or loss runs each month in 30+ formats.
- A large clerical staff devoted to the process of manually validating and entering claims information from hard-copy reports into internal systems.
- Limited MIS staff devoted to converting TPA data, and no experience in dealing with the various TPA formats.
- An unsuccessful effort was made to implement a data standard as a requirement for TPAs. Part of the failure was attributed to lack of technical staff to devote to development of the data standard, and implementation support to the TPAs.
- A failed attempt by another RMIS vendor, after 18 months of development and testing cost, to interface with the company's internal batch update and processing rules.
- RTI proposed an innovative solution that allowed RTI to manage the entire process from TPA contact and support to data scrubbing, conversion, and upload. Management accepted the plan and within the first year justified the new process with reduced staffing and greater efficiency. For seven years RTI has been an integral partner in this carriers successful TPA EDI and implementation process.
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