Claims Management: How Dream Beyond Transformed the Gulf Coast Claims (GCC)

Management

How Dream Beyond Transformed Claims Management

Background

With five decades of experience, Gulf Coast Claims (GCC) is a trusted claims management firm that serves insurers, Lloyd’s Underwriters, and self-insured clients. However, their existing system, known as “Peacock,” posed significant challenges. It lacked remote access, suffered from calculation inconsistencies (unnoticed by management), and resulted in financial and operational inefficiencies.

Enter Dream Beyond: Their innovative solution transformed GCC’s outdated Peacock system into a cutting-edge, web-based application. This upgrade not only addressed critical inefficiencies but also unlocked unprecedented levels of reliability and scalability. GCC now stands poised to enhance its claims administration services and streamline operations for the next 50 years.

Challenge

The Challenge

The existing program at GCC presented a triple threat: significant financial discrepancies due to limitations in data tracking, hindering informed resource allocation; a lack of accessibility during the COVID-19 pandemic when remote work became essential, potentially impacting productivity and collaboration; and inefficiencies and security risks associated with a VPN-based solution, leading to slow connection speeds and raising concerns about data protection.

Financial Discrepancies

The existing program had significant financial discrepancies, affecting budget management and decision-making.

COVID-19 Accessibility Challenges

During the pandemic, remote work was essential, but GCC struggled with accessibility. Employees couldn’t access critical systems efficiently.

VPN Inefficiencies and Risks

Relying on VPNs introduced inefficiencies and security risks. A better remote access solution was needed.

Solution

The Solution

Dream Beyond’s team worked on a solution to overhaul the system and bring in features that would help address the challenges that GCC was facing.

Evaluation

The initiative to overhaul the legacy system commenced with a comprehensive assessment of the issues encountered by users. The team conducted interviews and closely observed the existing processes to create a blueprint, identify obstacles, and devise strategic solutions to address the challenges

Implementation

Certainly! Dream Beyond developed a customized web-based application for GCC, enhancing remote claims processing, secure claims management, error resolution, and seamless integration with FileTrak. This streamlined workflow efficiency and reduced manual effort.

Training

Certainly! The implementation of training programs facilitated a seamless transition for both data and users to the new application. These initiatives equipped users with the necessary knowledge and skills, minimizing disruptions and maximizing adoption.

The Results

Additionally, the Peacock Model, which stands for Participation, Experimentation, Application, Cooperation, and Knowledge, played a crucial role in ensuring the success of this transition¹. Let’s delve into the details:

Processing Efficiency: The new system led to a threefold reduction in processing times, significantly enhancing operational efficiency.
Data Accuracy: Enhanced data accuracy in insurance reached an impressive 99%, minimizing financial discrepancies and associated losses.
Cost Reduction: Automation and system integration resulted in a substantial reduction in manual labor and operational costs.

The Future

Dream Beyond, having achieved success in the transformation, now aims to bolster application features to further support GCC’s growth trajectory. The exploration of automated data integration solutions and continuous enhancements to system capabilities underscore Dream Beyond’s commitment to keeping GCC aligned with technological advancements.

Dream Beyond’s redevelopment of Gulf Coast Claims’ Peacock system not only addressed longstanding issues but also equipped GCC with a robust, scalable, and efficient claims management solution, positioning the organization to confront future challenges confidently. As GCC progresses on its evolutionary path, the newly revamped Peacock application is poised to assume a central role in fostering operational excellence throughout its journey.