DATA CENTRALIZATION AND PROCESS AUTOMATION

CLIENT

Headquartered in the USA, our client is one of the leading excess stop-loss insurers. They also provide Group Life and Disability, as well as individual product lines, to market. Employing 1000+ professionals, our client has over 500 clients in various markets across the USA. The client was gearing up to launch a ‘growth engine’ to increase their Group Life and Disability market share and was looking for a solution that would work with their current system to improve service delivery.

OBJECTIVE

The client wanted to install a new system to support their increasing market share with enhanced time-to-market. This system required to integrate with the existing systems smoothly.

CHALLENGES

The client’s existing system did not provide comprehensive process coverage.
It required manual intervention and additional tools to complete certain processes such as medical underwriting and billing.
Lack of centralized data and process automation adversely impacted our client’s operational ability, especially their ability to manage large volumes and their overall service delivery capacity.
Our client’s current system impeded their ability to effectively manage policies and proactively address client requests, thus creating issues with customer satisfaction and retention.
The chosen product was required to interface successfully and seamlessly with a number of our client’s core internal systems, including General Ledger, Check Writing, Agent Management System, Workow System, Third-party Statements, Web Portal and Lockbox Application.

WYNSURE SOLUTION

The Wynsure modules implemented were Product Factory, Billing, Commissions and Interfaces.

Our client chose Wynsure because it provided an out-of-the-box, scalable solution with the required functionality to support their business processes and growth.

The key selection criteria included :

A robust technical platform ensuring reliability even for large volumes.
System scalability that would enable implementation of new products in the future.
Broad functionality which eliminated the need for additional tools.
Feature of group billing

Wynsure was deployed for Life and Disability products including life, accidental death and dismemberment, supplemental and dependant coverage, short-term and long-term disability, core and buy-up coverage and administrative service products.

PROJECT HIGHLIGHTS

The team consisted of six experienced professionals from Mphasis and the project went LIVE within just 9 months.

Interfaces were developed with General Ledger (Lawson), Check Writing System (CDS), Agent Management System (DSS), Workflow System (Viewstar), Third-party Statements (RR Donnelly), Web Portal (Group Online), Lockbox Application (MQ Series) and other core systems to provide our client with an end-to-end solution.

BUSINESS BENEFITS

Cost reduction and faster time-to-market as a result of consolidated data and automation of core processes.

Increased revenue generation through our client’s enhanced capacity to manage larger volumes and a wider range of products.

Enhanced levels of client retention as the client was able to serve their customers more efficiently, with faster turnaround times, and a more responsive approach to policy renewals management.

Centralized data and automated processes to manage larger volumes speed up operations and increase service delivery capacity.