Innovation

Improving operational efficiency

Process control is a key issue for insurance companies. Often in the middle of a digital transformation, they must manage their activities using a wide variety of tools, steps, and rules (e.g., following up with prospects, multichannel underwriting, contract management, claims settlement, handling policyholder requests, cancellations, etc.) to improve agility, traceability, and operational efficiency.


To improve youroperational efficiency,you want to:

  1. Adapt your procedures

    Many insurance companies still work with paper files and an increasing amount of email, with no real coordination. In the era of paperless processes, it is a matter of modernizing key activities, like claims monitoring, renewals, requests for proof of insurance, and appraisals. This kind of change can considerably improve your operational efficiency and, by extension, the quality of service you give your customers.
  2. Centralize task management

    Within your company, do you use different tools to manage insurance? Are there many processes and people involved, spread across multiple sites? To improve your operational efficiency, you need to centralize the information needed to perform tasks, organize and prioritize work, issue assignments, and facilitate and simplify interactions between departments (underwriting, claims, actuarial, billing, etc.).
  3. Keep track in real time of what needs to be done

    You want to have an overview of open and current tasks, supervise the progress of actions, verify that procedures are being followed, and see when things go back and forth and when there are reminders and delays.
  4. Learn through reporting

    Tracking the progress of tasks is one thing. Learning to improve processes and increase operational efficiency is equally important. Data extraction and statistics are fundamental for collecting the indicators you need for your quality process.

What you need

A technological partner who understands the challenges you face in insurance management and offers a business workflow solution that is compatible with your information system.


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