Outsource Function -
Policy Checking

The Client:

A US-based specialized insurance solutions provider for social service and non-profit organizations.

Scope of Work

Complete support with:

Policy checking - current policy vs. proposed terms vs. expired policy.

The Client:

Process Bottlenecks

The client wanted to onboard a service provider who could manage its customer's insurance accounts and policy with a high level of precision and skill, with deep domain expertise and specialized insurance background. Their goals were manifold:

  • Reduce average handling time
  • Optimize and effect economies of scale
  • Establish sustained cost rationalization

Cogneesol’s Optimization Solution

Our team deep-dived into the processes and found that given the specialized nature of the products coverage and the wide range of insurance riders, over 40 different clauses had to be referred to for a single policy checking. Adding to the process complexity was the high frequency of updates to the insurance clauses and riders that had to be incorporated during policy checks.

This thorough study enabled us to design an operating model with reference points to simplify the tasks. We generated a reference rule book for each type of coverage, serving as a ready reckoner to be used along with custom-designed policy checking checklists for different insurance coverages. Alongside, we sorted the policies with the help of exhaustive keywords checklists to reach any page of 100+ policy pages to match the context with the proposal and expired policy.

These reduced the overall time taken to process policy documents while maintaining accuracy and completeness.

Here was a team that understood our ecosystem and requirements immediately and put in place intelligent and practical solutions. Our processes are stronger, leaner, and very agile now. It helps us to do business in extremely efficient ways.

Impact Delivered

Redesigning operating models to cut average handling time and enhance capacity by 40%.

Leveraging our deep domain expertise and vast experience of servicing clients across insurance capabilities, our team brought about lasting value to the client’s operations:

  • Improved the average handling time (AHT) of pre-renewal and new policy processing to 1.30 hours and 1 hour per policy, respectively
  • Enhanced capacity by ~40% with almost doubling the expanded range of output and clearance of all backlogs in policy issuance

Client Testimonials

It is always a pleasure to learn that the work we do has positively impacted our clients and that they are happy to share their experiences.

Get in Touch With Us

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