A leading multi-line independent insurance agency in the US.
Scope of Work
Quotation management across different carriers and broker websites.
Unable to complete quotes the same day owing to time shortage, the client’s customers were not getting their modifications in a timely manner. This had led to an all-time low CSAT.
The client, therefore, needed specialized assistance for quoting on different carriers or broker websites with a same-day turnaround timeline. Further, their KPI was around 100 quotes per day.
Cogneesol’s Optimization Solution
Within the first week of our engagement, our team deep-dived into the client processes to identify areas that caused lags. The team, in real-time consultation with the client, eliminated task duplication by implementing advanced document reading software that retrieved desired information by quoting website questions. The software brought accuracy and maximum utilization of our resources.
The team further designed ready-to-use templates that required only unique customer details and fetched the remaining details from the existing database. This template thereby completely eliminated the extra task of writing separate change-dispatch to customers.
We had been struggling with our quotes management process for long. It had severely dented our customer confidence in us. With Cogneesol taking over and their streamlining the processes, we have been able to hit all-time highs in our operations. The team is as good as you can get!
Over-achieved client KPIs through 20% incremental deliverables, 43% cost reduction, and 98% CSAT.
The immediate impact of our streamlining and re-engineering efforts led to the completion of 120 quotes per day as against the client’s requirement of 100 quotes per day. We further effected approximately 43 percent reduction in operational costs and attained a CSAT score of approx. 98.
The high-impact results increased the client’s confidence in our team – they moved premium-based quotes to the team, thereby increasing our scope of work.
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.
Cogneesol brought in huge savings by streamlining our policy management function and driving productivity. We are now using the example set in other functions as well. As a leaner and lighter organization, we have become nimble-footed and now have the freedom to expand our business and product lines. Cogneesol, Thank You!
Policy management process would devour our quality time. We needed a good service provider who not only understood the insurance domain but also had the resources to help a growing business. Cogneesol turned out to be the perfect partner – they handle our end-to-end policy operations, give us performance reports every month end and have given us the bandwidth to take on strategy matters.
The team that has been handling our policy management services are experts at U.S insurance regulations and statutory requirements. Their DD and transition timelines are short. This helped us in quick onboarding and swift application of transformative solutions in required areas. The team brought us increased productivity within a very short period.
Our customer satisfaction score has gone up many notches from the time Cogneesol took over our claims management process. They have streamlined the activities making them simpler and quicker. A standard operating procedure was put in place so that service levels, accuracy and timelines could be met. These together have quickened the disbursal process, generating a great deal of goodwill.
Cogneesol transformed our claims process by making it intuitive and extremely customer centric. Our claims submission process is simpler now, with customers easily filling in forms. Further, the claims payment process has been shortened and simplified, thereby enabling quicker disbursal of the claims. Thank You, team Cogneesol, for these valuable structural changes!
It is always important to work with domain experts for critical functions. Our claims management function is one such critical department. We have Cogneesol handling the entire department for us for many years now. The technical expertise they bring to the operations has been ensuring the smooth functioning of every process and their complete compliance.