Comprehensive claims automation solution – 50% reduction in TAT by digitizing claims forms and correspondence operations for a global insurer

Client overview

The client is the world’s largest publicly traded P&C insurance company and a leading commercial lines insurer in North America with operations in 54 countries and territories. They provide commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. As an underwriting company, they assess, assume, and manage risks by combining craftsmanship with experience to conceive, craft, and deliver the best insurance coverage and service to individuals and families, and businesses of all sizes.

Challenges

The client faced various challenges, ranging from lack of standardization to manual and obsolete processes.

• Significant amount of manual effort was needed by accessing multiple systems to generate claims-specific correspondences
• Lack of standardization between various business processes resulted in dependency on a trained manual workforce
• Searching for letters, and sorting, printing, and stuffing the envelopes to send relevant correspondences and forms to customer were manual processes
• No standard templates in place. It is left to the discretion of the claim adjuster to find the right form and send it to the correct recipient
• The organization was exposed to regulatory breaches, fines and risk, further damaging it’s brand

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