FlowRocket for Settlement Providers

Fully automatized and digitized processes under one roof.

From medical underwriting and new business CRM, broker communication and servicing to contract management, FlowRocket’s platform for providers is the most efficient and compliant one.

What do we provide to the providers of structured settlement?

  • Processing a Medical Underwriting Request
  • Underwriting Process
  • Secondary Review
  • Easy access by new business

Manage each task under one program rather than jumping from one task to another for a single process:

  • Processing a Medical Underwriting Request
  • Underwriting Process
  • Secondary Review
  • Easy access by new business
  • Embedded analytics

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Processing a case request

  • Receive incoming case request in a smart dashboard enabled widget instead of different individual or group email boxes
  • Get rid of a request from the widget view off which the case is already created or assigned to any underwriter to get a view of the requests pipeline
  • Request is locked to be viewed or worked when the request is being worked on by one administrative support user. – Avoid multiple access and duplication of work on same request by multiple staff users
  • Smart and efficient search to determine if the request is for a new claimant/case or is a rework for an existing case
  • Define type of case as Rush, Rework, MSA and/or Worker’s Comp while assigning the case to an Underwriter
  • Preventing from creating duplicate claimant/case if the claimant demographic information matches with any existing case files from prior years even without performing the search for claimant’s information
  • Pre-populating broker’s information based on the sender of the request of the case and pre-populating claimant and broker information in case of a rework
  • Assign the case to an Underwriter based on case complexity or Underwriter’s existing workload

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Underwriting process

  • Smart and Efficient Underwriter’s work queue in a dashboard enabled widget
  • Work on case based on priority of Rush, Rework, MSA or other type of the case
  • Review the medicals and email from the broker in a state of the art document viewer
  • Centralized and integrated system for calculation of rated age, assigning impairment codes and adding Underwriter’s notes in one place
  • Generate template based consistent Rated Age confirmation Sheet for each broker on the case, every time
  • Share Rated Age Confirmation with brokers securely via web link with expiration date and track the activity on each share or re-share

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Secondary review

  • Automated Secondary Review Process based on predefined criteria, for example, in case of age is rated for 10 years or more
  • Secondary Review Process based on Underwriter’s discretion for the opinion or guidance from Chief Underwriter or Underwriting Supervisor
  • Ability to add notes by Chief Underwriter and approve or Change request in calculation of Rated Age
  • Auto assign the case back to Underwriter’s work queue once the secondary review task is complete

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Easy Access to New business

  • Read Only Access to the New Business Team on each case
  • Quick Case Search with variety of search options
  • Mark cases as Won or Lost with different parameters of Premium, Date and Broker for a case
  • Access the Medicals and Rated Age Confirmation quickly and efficiently directly from the system

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Embedded analytics

  • Daily, Monthly count of Requests processed by Administrative Support Users
  • Service call management
  • Daily, Monthly and Yearly Case Counts Processed by Underwriters segregating between New Cases and Rework Requests
  • Summary on Won and lost Cases Reports by case type and Impairment Codes classification
  • Reports for Actuaries based on Geographical locations, impairment codes on a case and any other criteria that Actuaries would look for
  • Periodic Summarized details on cases rated and worked on
  • Reports on pending case requests

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CRM for structured settlement providers:

  • Receive request and medical documents in encrypted format in one centralized system.
  • Review medicals in sophisticated Document viewer within system and stored securely on a cloud system in encrypted format.
  • Smart search within seconds in the existing case files and determine whether the request is for a new case or a rework for an existing case.
  • Avoid creating a duplicate case file if the claimant’s information matches with any existing case file, even without performing search result
  • Digital allocation to Underwriter’s work queue with one click
  • Use of inbuilt integrated Rated Age Calculator, encrypted e-mails/ fax and underwriter’s notes and store everything in one centralized place automated
  • Rated Age is locked for editing after a defined timeline(generally one year) and/or if the case is already won by the New Business Team
  • Share Rated age confirmation with the broker via encrypted downloadable and traceable links

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We tried developing a solution for over two years with our in-house engineering team and could not make our business users happy. FlowRocket came in took our Lotus based custom applications and converted into cloud based Workflow solution on their platform. FlowRocket solution exceeded our business users expectations, since it not only retired our outdated and legacy application but it also addressed their long-awaited wish list. FlowRocket migrated over fifteen years of old data from Lotus systems. We are very happy to move to the vendor supported cloud based platform which is kept up with technological advancements and continues to add new functionality. We are considering to move more legacy applications on the same platform for the sake of simplicity of maintenance and automatic integration of the data on a unified platform.

  VP, Technology, Leading Insurance Company

FlowRocket help us migrate from our legacy system for medical underwriting. Platform is easy to use and very flexible for our custom needs. Technical team is very knowledgable and service is exceptional. Platform is secure, reliable and performs very well.

  Medical Underwriting IT, Leading Structured Settlement Provider

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