CINCINNATI, May 19, 2022 (GLOBE NEWSWIRE) — SCI 360’s 360 DEMAND Review app is used by Fred Loya Insurance, a Texas-based auto insurance company and the 18th largest Hispanic company among US 500 owned and operated United States, transforming and automating claims processing, reducing time and increasing accuracy, resulting in annual savings of $684,000 in claims expenses and a reduction of $3.8 million in dollars of liability risk.
360 DEMAND Review is a contactless, accurate and fast solution that revolutionizes the way complex and large insurance and healthcare claims are processed. Fred Loya Insurance Vice President and Chief Claims Officer, Edgar Meza, said, “The 360 DEMAND Review app is a real-time game-changer; we can sort through and dissect an application file with precision, with unparalleled efficiency. We are achieving over 95% processing accuracy and reducing average processing times from 2.5 hours to 43 seconds. All of this represents huge savings, both in terms of risk exposure and direct payments.”
Michael Sturgis, CEO of SCI 360 and former insurance industry executive, said, “Automating legal document processing is a key part of our solution, making contactless claims processing a reality. 360 DEMAND Review automates every step of the claim request process, from ingesting a demand letter from a claimant to triaging the claim. Beyond automation, we introduce unparalleled precision, dramatically reducing a carrier’s risk exposure. Sturgis continued, “Time is running out when a claim package is presented to insurance claims teams. Processing these documents quickly and accurately is critical to ensuring carriers and customers are not burdened with undue risk. .”
“Using OCR technology, the SCI 360 solution accurately highlights the keywords in request packages that we know pose the greatest risk to our business. These complaints are immediately escalated, prioritized and addressed” , explained Meza. “The painstaking manual process that our claims representatives used to go through has been eliminated, allowing them to focus on business-critical claims.”
For more information on 360 DEMAND Review, visit www.sci360degrees.com.
ABOUT SCI 360
Our founders, former insurance executives, are early adopters of Salesforce. SCI 360 was founded in 2009 on the principles of Trust, Experience, Understanding, Knowledge and Opportunity. SCI 360 is a Certified Salesforce Partner with over a decade of vertical expertise in the insurance industry. The SCI 360 team has unparalleled insurance and technology expertise, pioneering advanced solutions that empower insurers and support the lifecycle from policy underwriting to claims processing.
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