About the Client
Our client is one of the world’s leading insurance groups with major businesses in property and casualty insurance, life insurance, savings, and asset management. It does business in all major global markets and processed thousands of claims on a daily basis.
Client Challenges/Pain Points
The client was looking for ways to handle the claims management process with greater efficiency. For most customers, that claim represents much-needed compensation for what could be a traumatic event, such as a car crash, property damage, or surgical procedure. An efficient claims process is vital to the success of any insurance company because it both increases customer satisfaction and minimizes loss.
Insurance business intelligence solutions provide claims handlers with a holistic view of key business processes and performance, including open claims. By integrating business intelligence software with customer relationship management (CRM) systems, insurance providers can also give their claims handlers access to detailed customer profiles. Handlers can use this capability to review customers’ prior claims and other essential information and to deliver more expedient service, as well as a highly personalized customer experience.
Apache Hadoop, SQL (ETL), Amazon Web Services (Cloud storage), Microsoft Azure (Cloud storage), .NET (desktop application).
With the developed analytics solution, the Customer benefited from a 360-degree customer view across all channels and business directions, as well as robust retail analytics, which allowed them to create a personalized customer experience. Claims were processed and managed with extreme efficiency. As a result, the overall efficiency of the organization and its workforce increased about ten folds compared to what it was earlier.