The Challenge

Overcoming operational challenges and improving customer interactions.

The insurer, which serves a diverse range of clients across multiple industries, faced operational hurdles due to its reliance on manual and time-consuming processes. Customers experienced issues like long wait times to purchase policies, difficulties in tracking the status of their claims, and extended turnaround times for claim processing. Additionally, the limited availability of the insurer’s digital portal further compounded these issues, making it difficult for customers to properly utilize their services.

Faced with timely challenges, the insurer sought out Credera’s help to create a solution that would improve the efficiency of the company’s workflows, standardize product configuration rules, and enhance overall adaptability. The insurer wanted to revamp its operations to enable seamless operations for employees, while staying relevant and responsive in an industry characterized by rapid change and high customer expectations.

The Solution

A cost-cutting, unified solution that provided critical insights and data across the organization.

Our team, consisting of insurance domain specialists and Pega experts, designed, implemented, and delivered a holistic, 360-degree customer view. Harnessing the power of Pega’s unified architecture, our solution transformed the firm’s operations, creating a positive impact across their customer experience, improving consumer engagement, and automating internal workflows, such as customer service touchpoints, claims processing, and underwriting.

The solution also included cloud migration, document management, email management, and multi-software integration to fulfill the company’s business requirements.

The Results

A unified solution for improved customer satisfaction and streamlined operations.

Our solution now manages 90% of the enterprise’s applications. It also acts as the single source of truth for both underwriting and claims, enabling the firm to:

• Introduce over 100 new insurance products and cater to more than 25 new client segments

• Migrate content from the legacy application to Azure blob in one month, using Pega Robotic Process Automation (RPA)

• Build more than 150 products in 18 months through our enhanced product builder

• Optimize customer experience through digital claim intake processes, omnichannel customer service via chatbots, email, and Interactive Voice Agents (IVA), a single-point billing experience, and personalized products and recommendations for next steps

• Reduce operational costs of managing the lifecycle of organizational assets and access to reusable processes for customer journeys

• Minimize claim leakage, indemnity expenses, lead time, and litigation management costs

• Provide customers and agents with a unified access point to view policy details, policy documents, historical claims, and supporting documentation like underwriting notes, etc.

• Improve productivity with proactive risk management and automatic triage of claims to the appropriate claims manager