• Insurance

a End to End automation - from processes originating in the branches and ending at the head office
a Assured benefit incorporating Industry experience and best practices
a Future proof solutions to provide scalability and integratability with
other systems

The emerging concept of Business Process Management is deemed to drastically enhance white-collar efficiencies to the tune of what the production line brought to blue-collar workers. By providing mechanisms to business people for process definition, process monitoring and process control BPM can enable :

Transparency: By breaking down each function in multiple activity steps and measuring people performance, time taken for each activity, BPM provides an ideal tool for managers to optimize processes and performance to improve productivity.

Agility: The ability to bring new products and services to market more quickly and adapt processes more effectively to changing market demands.

Profitability: BPM enables both centralization of work processes and shared services. This ensures improved quality of work and leaner branches with optimal utilization of manpower.

Flexibility: Accommodating multiple IT application and dynamic business exceptions across the process

The Challenges

a Sanctioning of an insurance policy can take anywhere between 15-20 days depending upon the number of discrepancies
a Difficult to collate the information and standardize processes across geographic locations
a Huge Time delays in customer response due to manual activities and file movement
a Difficulty in monitoring user accountability and leveraging resources efficiently
a Inefficient handling of increasing number of ‘in-force’ policies and customers
a Increased complexity of processing claim benefits
a Scaling associated with increased frequency of claims

Enhancing the customer experience and showcasing back end processes that deliver in time and with accuracy is therefore not just a regulatory requirement but is one of the key tools in the hands of the Agent to sell against competition. Within the Insurance industry BPM has brought in proven benefits to the processes of New Business, Policy Owner Servicing & Claims Management.

New Business Process: It includes Application and generation of new business to an Insurance company.

Policy Owner Servicing Process: The Policy Owner Servicing (POS) department is responsible for servicing a multitude of requests from existing clients, i.e. the policy owners.

Claims Management Process: Claims management services consist of advice or services in respect of claims for compensation, repayment or any other remedy for loss or damage, or in respect of some other obligation.


a Automation of the business processes results in reduced cycle time to process requests, thereby, increasing customer satisfaction by responding to queries in a short span of time
a Efficient monitoring of the processes and tracking of the documents and instruments at each stage makes the system foolproof
a Identification of bottlenecks lets the management to take proactive measures in case of deviations or emergencies, thereby minimizing the delays and losses
a Efficient user performance, process performance leading to higher employee productivity
a Regulatory compliance through traceability, automated reminders, escalations, etc.
a Makes claim information readily available for analysis and decision
a Real-time status for quick resubmission and faster reimbursements.
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