The Client
A leading provider of Specialty insurance and reinsurance at Lloyd’s
Coforge provides policy administration services (Aviation, Cargo, Marine, Terrorism, Property, Casualty, etc. Class of businesses)
Challenge
- Uncertain Volume trends leading to delay in turn around time
- Up to 160% capacity demand during spike months
- Increase in number of errors
Solution & Execution
- Setup offshore delivery center on a plug and play model
- “Cross-skilling matrix” to dynamically organize and manage the workload
- LOBs ‘bucketed’ basis skill required
- Provided short term capacity ramp-up via additional staffing model
- End to end Policy Administration platform (AdvantageGo ‘Subscribe’) and operational services to maintain all the insurance and re-insurance policy records
Value Delivered
- Secured 5/5 on customer satisfaction Index
- 100% TAT met with all transactions processed within 1 business day
- Processing 40K transactions annually with accuracy rate of 99.8%
- Cost saving of £180K delivered over the last 12 months
