Improving underwriting costs and speed with an AI-powered, online insurance platform

A leading insurance provider needed to increase their distribution channels to match customer expectations and grow their market share. Without a solution, they risked losing a significant portion of their online customers. Their infrastructure was the biggest obstacle to expansion—siloed teams and disparate systems were contributing to manual and inefficient processes.

They partnered with Aspire to launch a cloud-based platform which completely overhauled their underwriting system. Its unique architecture allowed stakeholders client partners to make updates that would have previously required complex migrations. This platform helped the client achieve their expansion, contributing to new efficiencies and a 150% increase in revenues per product.

Updating a legacy system with automation that fit the client’s existing infrastructure

Liverpool Victoria Financial Services is a company offering financial advice, insurance, retirement and other such services in the U.K. They were dealing with issues related to multiple legacy systems, and partnered with Hexaware on a solution which streamlined their operations while also delivering benefits in efficiency and cost savings. The client intends to scale this solution and apply it across the company.

Streamlining HCM applications with a Workday-centric solution cuts capex and improves operations

The client, a global insurance company, had a highly siloed application portfolio for human capital management (HCM). This was a consequence of their growth through acquisitions. Key HCM functionality related to reporting, payroll, or recruitment were split across multiple systems and their international employees were on an entirely different platform.

For example, only their North American employees were using PeopleSoft; their international employees used another system. This prevented them from having a centralized view of their HR, along with large capex and licensing costs. They partnered with Hexaware on a complex, four-year-long migration program, which lowered their per-employee costs and retire 87% of their legacy systems.

Enhancing underwriting outcomes by combining machine learning with RPA

The client is a Global P&C commercial carrier which faced a challenge processing the large number of submissions coming to them from their brokers. Every week, their U.S. operations underwriting team receives a large number of requests for coverage across many lines of business. The pre-underwriting process for these submissions is labor intensive and time-consuming for the underwriters, drawing them away from core underwriting analysis and decision making. Infosys BPM helped them deploy a solution built around their own intellectual property that helped digitize their systems and respond faster to their brokers. Solution improved the client’s process efficiency and overall user experience.

Speeding up payments and processes by modernizing an end-to-end insurance system

Lincoln Financial Group wanted to improve their end-to-end life insurance process, bringing the entire customer journey—from submission to activation, to maintenance—into the digital age. They partnered with LTIMindtree to help them build systems that made it easier to apply for insurance, pay bills, communicate with the bank, and deal with documentation. These initiatives came with a back-end transformation which helped Lincoln Financial Group streamline their operations, freeing up resources and revenue.

Reducing non-standard processes with outcome-based pricing drives savings and NPS boost

The client is a leading regional provider of financial services. They were struggling with low levels of customer satisfaction, linked to issues like lengthy claims life cycles, higher indemnity expenses, and the frequent need for manual ways to work across product lines. WNS helped the client by developing a solution engineered around a synthesis of advanced analytics and automation. These improvements boosted their customer service scores and reduced operating costs across multiple areas.

An AI data solution proactively halts payments leakage

The client is a leading regional provider of financial services . They were looking for a solution to validate vendor payments as a way to avoid leakages and reduce their exposure. WNS deployed a proprietary digital transformation framework to design and implement a solution which helped them safeguard against future losses.

Zurich Claims UK, a part of Zurich Insurance Group, decided to go through a largescale transformation. Through this process they wanted to keep an extreme focus on the customer and work aggressively on their digital agenda.

They were looking for a supplier who could partner with them in this journey and help realize the necessary changes. They chose to work with WNS because of their industry experience, coupled with their domain knowledge of U.K. insurance and proven ability to scale.

WNS helped them develop an AI-based solution which restructured the claims system end-to-end, quadrupling the speed of their process and improving satisfaction scores.