Plum, India's foremost insurtech platform, which provides group health insurance and business insurance solutions to more than 3500 corporations, has introduced ‘e-imburse’, a digital-first solution for reimbursement claims.
Historically considered a complex procedure, reimbursement claims involve employees covering medical expenses and treatments upfront, and then seeking reimbursement from their insurance provider. The documentation needed for making a reimbursement claim includes:
● A filled and signed claim form
● Original hospital bills, inclusive of prescriptions, pharmacy bills, and receipts
● Diagnostic and laboratory reports
● Medical certificates authenticated by a physician
● The original discharge summary
The reimbursements constitute 40 per cent of total health claims across the industry, and we've noticed a comparable trend at Plum. The increasing favour for reimbursements can be linked to the restricted number of hospitals within the insurer's cashless network and the complexities of last-minute coordination with various parties.
Despite being labour-intensive and primarily reliant on manual processes, often involving a substantial amount of paperwork, this procedure remained unaltered by technological advancements for many years. With a focus on user satisfaction, Plum has successfully slashed the time required to process a reimbursement claim, reducing it from a minimum of seven days to just one hour.
‘E-imburse’ introduces several pivotal features that redefine the insurance claim submission procedure:
Paperless efficiency: Users are no longer required to complete or print claim forms, nor do they need to submit physical bills or hard copies.
User-friendly interface: The system offers an intuitive interface to ensure policyholders can easily navigate through the claims process.
Enhanced security: Policyholders can place their trust in the security and confidentiality of their sensitive information. Optical character recognition (OCR) technology enables the scanning of official documents for authenticity and originality, streamlining the claim settlement process.
