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Financial Services

Insurance

Increase the productivity of your operations without technology investments or changes

As the insurance industry moves forward, executives must seek ways to improve profitability while simultaneously balancing the demands of regulatory changes, market uncertainty and changing customer demographics.

That’s where we can help. We position you for success by developing and executing strategies to help you grow through streamlining back office operations, enhancing employee’s performance and improving active management.

We have consistently delivered results to some of the world’s leading insurance companies, providing them with the right solutions when facing complex challenges, including:

  • Streamlining your operations to enable future growth with minimal additional resources;
  • Reducing policy issue turnaround time;
  • Improving the accuracy of new business applications;
  • Improving customer contact center efficiency and productivity;
  • Reducing claim processing time while decreasing its administrative cost;

Learn more about our previous work in Back Office Process Improvement and Operations Optimization.

Contact us today to learn how we can Make It Happen in your business.

HOW WE MAKE IT HAPPEN™

STREAMLINING YOUR OPERATIONS TO ENABLE FUTURE GROWTH WITH MINIMAL ADDITIONAL RESOURCES
• Implement new, sustainable and best in class processes
• Drive optimal resource utilization across departments
• Develop and deliver active management training programs for middle management
• Implement resource-planning tools to estimate future staffing based on forecasted work volumes
• Train management on process improvement tools to easily plan for future business needs

REDUCING POLICY ISSUE TURNAROUND TIME
• Install a “gatekeeper” process to review received applications for underwriting
• Reduce duplicate checking and unrequired quality control of applications in Case Management
• Identify and tackle the drivers of turnaround time for all departments (Indexing, Case Managers, Quality Control, Underwriting), by process
• Standardize best in class practices for all operation
• Reduce departmental hand-offs through cross-training, transparency and sustainable accountability

IMPROVING ACCURACY OF NEW BUSINESS APPLICATIONS
• Install Error Tracking to reduce errors rates through root cause analysis and better communication
• Install a quality checklist at receipt
• Decrease error rate by increasing quality of input and installing “fail-fast” gate keeping
• Filter all incoming applications for quality
• Standardize templates and forms used by agents, brokers, and customers
• Reduce duplicate checking and excessive quality control of applications in Case Management
• Identify and redesign problematic processes

IMPROVING CUSTOMER CONTACT CENTER EFFICIENCY AND PRODUCTIVITY
• Reduce inbound unnecessary calls (transfers & external)
• Reduce status calls from customers and agents
• Optimize resource planning across all phone queues delivering shorter resolution
• Drive Better Average Handle Time by identifying root cause and removing barriers (Transfer Time, Talk Time, Hold Time, After Call Work)
• Develop Call Management and Call Development flow strategy based on call types
• Install training and feedback loops to improve call efficiency
• Cross-train call center agents to enable higher occupancy rate

REDUCING CLAIM PROCESSING TIME WHILE DECREASING ITS ADMINISTRATIVE COST
• Re-design documentation requirements to streamline the claims approval process
• Implement standardized codes to track claims by process stage, improve accountability and reduce errors
• Implement a claim routing process, reducing its costs and improving customer satisfaction
• Design a process to improve claims triage, inbound data collection and claims adjuster training