ClaimWorks May be Your Answer to Increasing Warranty Repair Revenues
What is the Time Savings and Value to your Company?
- Drives claims processing efficiency and continuous improvement – Reduced processing time provides more time to do other tasks
- Fewer unpaid claims – Check out the following example shared by a satisfied client in 2023 shown below.
Why Consider ClaimWorks for Your Business?
ClaimsWorks is both a business services offering and software solution for warranty, extended warranty and home warranty claims processing.
Outsourcing warranty claims processing allows you to reduce administrative costs, improve accuracy, decrease cycle time, and eliminate rejections.
We developed and use our ClaimWorks system to process thousands of claims for our major appliance clients.
What ClaimWorks will do to Reduce Your Anxiety!
- Computerized Pre-validation of claims checking for common errors and incorrect information prior to submission to the processing location/portal including ServicePower and ServiceBench
- Full Audit trail on all changes made to claims
- Automatic claims forwarding to the appropriate processor
- Manual data entry and email of claims when required
- Reminders on claims where action is required prior to the submission date expiration
- Near instant notifications on claims requiring correction.
Example from a Small Appliance Service Company
- Average Appliance Warranty Claim Value $243.15
- Annual Rejection Rate 4%* for common errors
- 1,000 claims X $243.15 = $243,150.00
- 4% rejection due to common errors = $ 9,726.00
- Annual Cost of ClaimWorks @ $5.00 per claim service fee
- Savings = $4,726.00
* Note do not include claims that will not qualify for warranty service
