Client overview
The client is a premier Property & Casualty insurer for personal and commercial property insurance in catastrophe-prone areas in the coastal U.S
Challenges
The client faced challenges with its legacy claims systems as it used to take several hours to process each claim and the system was unable to handle large claim volume during the hurricane season. They also faced challenges responding to the changing market conditions as product evolution took a longer time than expected.
To improve operational efficiencies, replace manual underwriting processes, and provide no-touch claims processing, the client embarked on a core modernization initiative with DCT SaaS-based Full Suite platform to improve the customer experience.
Mindtree solution
Mindtree provided experienced Duck Creek professionals, leveraged its extensive experience of full suite implementation, and collaborated seamlessly with Duck Creek and the client to succeed in this program. We helped the client successfully transition to an agile-based 2-speed delivery model to obtain early feedback from business users and improve system adoption. Mindtree also leveraged its integration accelerator XactConnect to achieve the faster configuration of integrations with OOB Connectors and built-in transformation features. We aptly leveraged our performance engineering services to fine-tune the modernized system's performance up to expectation to ensure the end-users delight.
Benefits
The client received the following benefits out of this core transformation:
- Faster intake of First Notice of Loss (FNOL), touchless claims handling, enhanced payment capabilities, and digital payments helped achieve a superior customer experience.
- Peak FNOL intake 450 claims/per hour or 3600 per day—20 times the current peak volume.
- Processing of claims in minutes as opposed to hours.
- New product launches and product updates in a matter of weeks instead of months.
- Improved claims handling capacity from 200 per day to 500 per hour—an increase of 5,500%.
- 40% improvement in overall operational efficiency.
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