The Client
A National leader in specialty insurance in Hazard, Flood, Wind Earthquake and Commercial Insurance
Challenge
- With new technologies, our framework needs to give cost-efficiency and deliver value to our client which ensures loyalty
- Leveraging a solution which offers a roadmap to future capabilities that can’t be implemented (easily or at all) in older policy administration systems
- Leveraging improvement ideas enabling business process solutions which offers the most flexible, efficient, forward-looking way to effective operations
Solution & Execution
- Created specialized team for handling different document formats in data entry, improving accuracy and efficiency
- New hires were subjected to English proficiency testing to ensure as close to native communications skills as possible
- Implemented client-specific clusters in insurance tracking, improving client satisfaction and retention
- Executed process re-design enabling leaner workflow change in loss draft to improve case resolution and reduce errors
- Established specialized teams for voice side of business, streamlining processes and improving customer service
- Implemented platform solution for quality control, improving data accuracy and efficiency
Value Delivered
- Achieved 18% efficiency improvement across all lines of business in 7 months
- $ 0.55 M cost savings for the client in FY 22-23
- $ 0.85 M projected savings for the client for FY 23-24
