Baker Tilly Introduces Quantum, the Future of Business Interruption Claims Calculations
CHICAGO--(BUSINESS WIRE)--Apr 13, 2021--
Leading advisory CPA firm Baker Tilly US, LLP, (Baker Tilly) introduces Quantum, a new digital claims calculation platform for the commercial insurance market. This innovative system directly addresses the insurance industry’s need for business interruption claims modernization to accelerate loss calculations, reduce costs and improve customer service. The automated, on-demand platform is based on intelligent algorithms leveraging more than 40 years of industry experience and historical loss data from Baker Tilly. The highly personalized solution can reduce claims management costs by up to 30% and deliver loss calculations in as little as one day—resulting in fair settlements and a smooth, transparent experience for both insurers and policyholders.
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“Recent catastrophes and wide area damage situations including weather events and a global pandemic have put claims management under significant pressure,” said Simon Oddy, a partner at Baker Tilly with more than 20 years of business interruption experience. “Amidst rising policyholder expectations, digital tools must accelerate the claims process through data-driven analysis. That said, they cannot ignore the significance of customer experience and professional service. That’s where Quantum comes in. It balances technology and humanity to deliver automation—coupled with hands-on support—that provides a better experience for both claims professionals and their policyholders.”
With common pain points like efficiency, cost and customer service top of mind, Quantum empowers claims professionals, provides the real-time visibility policyholders expect and increases speed to resolution thanks to these core components:
- A seamless, on-demand platform automates the intake, evaluation and client reporting associated with damage analysis to increase efficiency, transparency, and control throughout every step in the process. Policyholders can upload documents and check their claim status 24-7, while claims professionals are able to easily manage multiple claims to decrease bottlenecks and boost productivity.
- Data driven AI calculations harness the power of Baker Tilly’s historical loss experience across industries and around the world. This results in unbiased, data-driven loss calculations that can be delivered in as quickly as one day for fair settlements and quicker speed to claim resolution.
- The Baker Tilly global forensic accounting team provides superior and scalable service levels to meet user needs and expectations. While some users may utilize the platform with little or no outside support, others can count on a team of experienced forensic accountants and technical support professionals to provide hands-on guidance.
Additional features of Quantum that enhance reliability and user experience include:
- Mass claims upload and unlimited scalability: Claims professionals can upload a high volume of claims for immediate initiation and status notification. They can also process claims simultaneously to effectively handle large intakes without sacrificing customer service.
- 24-7, real-time visibility: All parties have access to live case status for maximum transparency. Plus, dashboards provide the most accurate and up-to-date view of overall claim status and loss exposure.
- Dynamic monitoring: Insurers can dynamically monitor all of their claims using customer fields, loss events and other parameters.
- Proactive communication: A case alert system with automated email communications provides policyholders with instant updates to keep cases moving and assist claims professionals with timely follow-up.
“Knowing every organization is different in terms of readiness for change, we made Quantum’s service and pricing levels customizable for each user’s needs,” noted Oddy. “This allows us to meet each organization right where they are in their modernization journey.”
Quantum is available in three configurations. The first configuration delivers a completely automated claims calculation experience with technical support during normal business hours; the second provides access to on-demand forensic accountants for exceptions-based claims; and the third features 24-7 technical support and access to forensic accountants every step of the way.
To learn more about Quantum, visit http://www.bakertilly.com/specialties/quantum.
About Baker Tilly US, LLP (bakertilly.com)
Baker Tilly US, LLP (Baker Tilly) is a leading advisory CPA firm, providing clients with a genuine coast-to-coast and global advantage in major regions of the U.S. and in many of the world’s leading financial centers – New York, London, San Francisco, Los Angeles and Chicago. Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 148 territories, with 36,000 professionals and a combined worldwide revenue of $4.0 billion. Visit bakertilly.com or join the conversation on LinkedIn, Facebook and Twitter.
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CONTACT: Nicole Berkeland
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SOURCE: Baker Tilly US, LLP
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PUB: 04/13/2021 10:00 AM/DISC: 04/13/2021 10:01 AM