First, you have to understand what insurance transcription is: it’s simply a service that involves transcribing audio content recorded for insurance purposes or documentation. It can be any piece of information such as insurance investigations or interviews with claimants. It could also be an audio of interviews with other persons such as medical and legal specialist or any experts connected to the case. Additionally, there could be audios of claim meetings, field notes, or medical investigations and all these need to be transcribed.
Importance of Insurance Transcription
Insurance transcription helps insurance companies to written copies of information that was previously in form of an audio file. Insurance transcription comes in handy because the company can use the written forms to get information in future. These services also help speed up the investigation process and it makes settlements easy. Below are some of the major reasons why insurance companies need transcription services.
Provides the company with accurate data
Transcriptionists are well-experienced people who have undergone training, so they can accurately transcribe information from an audio file to a written document. They transcribe with a lot of care and precision thus ensuring high quality work is submitted. This is very important because insurance documents are legal. Transcriptionists also do verbatim transcription, so the reader will have a better understanding of how an interview was done and what the interviewers or interviewees were trying to communicate. After the primary transcription, there is usually a rigorous quality control that ensures there are no errors since it might affect the parties involved.
2. You can detect fraud easily
Many people file false claims while others hide the truth so that they can be compensated by the insurance company. Audio files and transcribed documents contain information obtained directly from the insurers and claimants. Going through transcribed documents is easier than listening to different audio files. While going through the document, detecting any discrepancies or lies is very easy. Also, the document will help in case investigators want to prosecute the claimant or the third party for fraud. It is actually the right document that gives evidence and proof.
3. Saves on time because files are easier to read
Transcribed documents help make work easier for insurance company employees. Listening to an audio file can be time consuming and exhausting. Transcription makes things less complicated for the employees especially when they are dealing with cases that have multiple investigations and interviews. Another importance of transcribed documents is that you can make foot notes on the file in case you need to review certain piece of information.
4. Facilitates file transfer between different departments
Insurance claims have to be reviewed by personnel from different departments and adjusters. Transcribed documents are easier to transfer from one department to another. It will also be easier for different persons to take notes from a written document and probably make recommendations.
5. Helps the adjusters
Adjusters have to go through all information collected when there is a claim. They find transcribed documents easier to go through and it saves them a lot of time. They can also easily refer back to the notes, and even understand the smallest details that were said by all the parties.
6. Gives that insurance company a complete file
It’s very important that insurance companies keep complete files of their clients. Such files need to be orderly and organised. If you work with audio files, you will be talking of more than one file. But, with a transcribed document, it gets compressed into one large file that’s easier to retrieve and store.
These are just but a few reasons why insurance companies need transcription. There are many more benefits an insurance company ought to enjoy from the services.
Why use professional insurance transcription?
Insurance companies usually deal with a lot of sensitive information starting from the insurance claims to the compensation process. So, the company should hire a reliable insurance transcribing service during these processes. Insurance claim documents are legally binding and there could be major repercussions to one of the parties if anything goes wrong with the transcription. Therefore, avoiding errors and tiny inaccuracies is top priority in insurance transcription. You can find professional and high quality insurance transcription online here.