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Transcription, in one form or another, has always been used by mankind as a crucial document for multiple purposes. Today, though there are various options like voice recognition software and AI-driven techniques, no machine could match up the precision and accuracy of an experienced human transcriptionist. Here let us find some of the interesting facts and information about Insurance transcription services.

Speed up the process

It is really important to understand the significance of recorded statements in any claims process. A recorded statement is essentially an interview between a claimant or the witnesses with a claims adjuster or representative who handles the claims file. When creating a recorded statement, the prime objective of the insurance adjuster is to gather, collate and congregate as much information as possible about the course of the incident and your version of stories. This gives the insurance companies leverage to examine and evaluate the probity of the claimant and the case.

5 Key aspects of recorded statements

By: Kevin

27 Sep 2021

Any insurance process starts with the recorded statements, as it is an integral part of the whole process involved in dealing with an insurance claim. It is an interview between the claims adjuster and the claimant who sought to get the insurance for any loss they met. While the recorded statement is determined as the nitty-gritty for any claims file, it is also seen as a piece of first-hand information that gives momentum to a case.

To understand recorded statements

In the world of transcription, the slogan ‘Don’t judge a book by its cover’ is a resonance of how transcription services have to be viewed. In most cases, there is always a different school of thought about the transcription process and its functions. Especially, in Insurance transcription, there is a pre-conceived thought, which can be termed as myths as well. These thoughts and ideas, in reality, are different from what they have been perceived by the majority of people.

If you've kept up with our blog over the last months, you understand the requirements and the significance of a quality transcription service provider in the overall claims process. Nevertheless, we shall comprehend why do the insurance adjusters need to work with transcription in the first place and how efficient is the role of transcription in the claims process.

Understanding insurance claims process:

The insurance companies will look for ways, not just to streamline the insurance process but also to offload a portion of work where they can, as they receive a flurry of insurance claims every day due to accidents and other emergencies. An insurance claim is a formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event. The insurance company validates or denies the claim. If it is approved, the insurance company will issue payment to the insured or an approved interested party on behalf of the insured.

Confidentiality and Security have always been the top priorities of any company dealing with data and information. Fortunately, with the advent of technology, the task to secure the valuable data of a customer can be ensured. While a lot of service providers claim to have a clear understanding of confidentiality and data privacy, choosing the best provider who values and understands the significance of the client’s data will be a challenging prospect. Nevertheless, we got you covered as we pen down the nuances of data security, especially in the Insurance sector.

Transcriptionists are trained and skillful to look after the small words or phrases that might be regarded as unimportant. The words like ‘you know, ‘uhh’ or ‘I mean’ can be missed or omitted during a transcription. These words seem to be trivial and do not add any value to detail on a claim. Nevertheless, a significant detail can be missed if you do not have a transcription service provider who has a well-trained staff.

For any Insurance Industry, precision is an inevitable element during Transcription. However, the mechanisms to achieve it are manifold. Even with advancements in speech recognition software, human transcriptionists possibly still provide the most accurate transcription services. The adjusters, supervisor, or claims manager, who work on an insurance claim will have to multi-task due to the extensive exercise that comes their way.

The critical aspects of Insurance businesses are accuracy and dependable transcription of statements. An experienced and reliable transcription service provider can effectively transcribe the conversation, interviews, dictations, or any other content within the specified deadline without compromising on accuracy. Clients look for a transcription service provider with a quick turnaround time. This builds rapport between the service provider and the client.