Insurance is an integral part of society as it protects both individuals and businesses against loss. Unfortunately, it's also one of the industries where many cases of fraud occur.
As a result, insurance companies are now, for instance, recording all their telephone conversations and it’s often necessary to have interviews with claimants, witnesses, and medical and legal professionals when investigating a claim. When it is, it’s vital that these interviews be recorded to compile a clear and accurate record of all statements and evidence.
In this post, we’ll look at why you should record and transcribe insurance claims, the benefits of doing so, and what equipment and software you’ll need in more detail.
As mentioned earlier, the insurance industry is one of the industries where the most instances of fraud happen. In fact, fraud is a massive problem and it costs American consumers $80 billion a year. Likewise, there was just over $3 billion worth of fraudulent health insurance claims in 2020 alone.
Considering these statistics, it's easy to see why one of the main reasons why you need to record and transcribe insurance claims is in order to prevent fraud and false claims.
Apart from helping you to prevent fraud, when you record and transcribe insurance claims you also enjoy several other benefits. So, for instance, it:
An accurate record of all claim details. When there is a dispute regarding an insurance claim, you'll have a clear and accurate record of all the claim’s information and details when you record and transcribe claims. In addition, and if necessary, you'll be able to provide attorneys with all the details relating to a claim in writing. This saves their time by not having to wade through hours of audio and video recordings, which, in turn, saves you money.
The equipment you need when you want to record and transcribe insurance claims will depend on what you want to record and transcribe. For instance, for:
Apart from possibly using your laptop to record interviews, you’ll also need it or a desktop computer to store the audio or video files.
Apart from the equipment mentioned above, it’s also crucial to have the right software to record and transcribe insurance claims. This will include:
Once you've made a recording using the equipment and software mentioned above, your next step would be to use software to transcribe audio to text or convert video to text. Here, we’ll recommend our AI transcription software, Transcribe. It allows you to transcribe any recorded speech to text quickly and easily.
To transcribe audio to text or convert video to text could be a time-consuming process. Fortunately, as mentioned earlier, Transcribe simplifies the process with its easy-to-use and intuitive interface.
We offer two transcription options: automatic and self.
To save time, we always recommend using our automatic transcription service. With it, you can transcribe audio to text and convert video to text with just a few clicks. Keep in mind, though, automatic transcription works best if you have clear and well-recorded audio or video.
For automatic transcription:
2. Once uploaded, you can track the progress of your transcription.
3. Once the transcription is ready, you can download the text file as a Word document or txt file.
For manual transcription mode:
2. Select the audio or video file of your insurance claim. Our self-transcription editor interface includes an integrated editor and media player and it supports several common audio and video file formats.
3. You can also use the self-transcription feature to edit the transcript generated by the automatic transcription mode.
4. You’ll also be able to slow down the audio and type as you listen. This allows you to slow down the audio to a pace that’s comfortable for you and that you’re able to keep up with.
5. You can also switch to dictation and repeat what you hear in your own voice.
6. Templates, auto loop, and foot pedal features that allow you to transcribe audio or video to text quicker are also available for you to use.
7. Once you’re done transcribing the insurance claim, you can export the transcription as a Word document to your computer.
You can read a more detailed how-to guide about transcribing audio and video here.
Recording and transcribing insurance is an excellent tool to prevent insurance fraud and false claims. It goes further than this, though, as it also provides a clear and accurate record of every claim which not only makes it easier to instruct legal teams in the case of a dispute but also streamlines the entire claims process.
So, when you want to do this, recording and transcribing insurance claims is as easy as 1, 2, 3 with Transcribe by Wreally. To find out more about Transcribe, visit our website for more details.
This is an attempt to build the definitive guide on various topics related to dictation, transcription & recording.