Modernizing claims administration for improved customer experience

The client, a leading entity in the travel insurance sector, was embarking on a journey to revitalize their claims administration processes. Their core aim was to elevate the customer experience while concurrently streamlining claims management costs.

As a strategic partner, we proposed an innovative approach that transcended the immediate requirements.

Our approach

We have expanded the business objective beyond the immediate need and identified business outcomes. By aligning design principles with critical success factors, we aimed for holistic improvements with both qualitative and quantitative measures of success.

Leveraging our extensive industry experience, we created a comprehensive business and technology capability map, a foundation for a robust claims administration model. Our approach entailed three distinct solution options, each tailored to meet the client's unique needs and priorities.

Option 1 - Extending the Member Portal:

The client is using a member portal for onboarding and buying insurance products. Capitalizing on the existing member portal, we proposed extending its capabilities from client onboarding to claims approval (FNOL). Upon approval, legacy backend applications would manage downstream functions like reporting, general ledger, and reinsurance. This option optimized the client's current technology investments while enhancing the overall claims process.

Option 2 - Commercial Off-the-Shelf (COTS) Products:

We assessed various COTS products against our capability map to provide an alternative solution. This option offered a pragmatic way to modernize claims administration while benefiting from established products in the market.

Option 3 - Leveraging Current Technology Infrastructure:

Our third solution involved designing a wrap-around solution utilizing the client's existing technology infrastructure, which was employed in other lines of business. This approach minimized disruption while facilitating the required modernization. To empower the client's decision-making process, we conducted a thorough comparative analysis of all three solution options across crucial parameters.

This analysis provided a clear understanding of the strengths and limitations of each option, enabling the client to make an informed choice that aligned with their business objectives and priorities

In conclusion, our strategic partnership with the client led to a multi-dimensional approach for modernizing claims administration. By focusing on enhanced customer experience, operational efficiency, and cost-effectiveness, we provided a pathway to achieving their goals in a dynamic and competitive industry. Our collaborative efforts exemplify the value of innovative thinking and client-centric solutions in reshaping the future of travel insurance claims management.