Story
Series
European Insurer Cracks
The Code to Future-Proof
Business Growth & Scales Experiences
wanted to fine-tune her Insurance plan and add new coverage to suit the exciting changes in her life, like a new baby and the plan to buy a first home. So, she decided to take it up
with her insurance company through her agent. After her
request was logged in, she found out that the process
took ages and so she demanded clarifications for the
same from the customer service desk. Her insurer did
not deliver the customer experience she was looking for,
especially when their motto was “Customer Satisfaction First”. The insurer’s customer experience failed to delight Lisa.
Lisa
In today’s world of personalized customer
experiences, such an experience can put off a
customer who may move ahead to competitors
offering better options.
Hexaware proudly partnered as a key collaborator in this journey of theirs.
Lisa’s insurer was a leading banking and insurance company based out of Belgium with more than 3 million customers.
The Insurance organization was at a critical juncture in its digitalization journey, where it was struggling to maintain legacy systems and reduce downtime. Withlong-term growth and sustainability being key issues, it was time to connect and engage with the customer community and regain their trust, the all-important competitive edge and agility.
AN INSURANCE MAJOR ON THE CUSP OF CHANGE
Deep and genuine technology partnerships were essential to realize the organizational goals of the European power house.
Right from the word go, the driving force behind our collaboration was the passion to create seamless and delightful digital experiences for users and customers.
A system stretched to the limits & breaking at the seams
Digital Transformation was the number one priority for the client; hence they wanted to ensure that processes, systems and applications continued to be managed, supported and enhanced as per the highest industry standards. This would help reduce costs and increase efficiency, streamline systems and processes while freeing subject matter experts and IT leaders to concentrate their focus on driving organization-wide digitalization initiatives.
One of the critical and core areas identified for improvement was the application landscape dealing with core processes like claims, policy, billing and referential data management. These were integral activities in the non-life and life insurance businesses of the client.
We understood that SLAs were not defined or followed, and there was no prioritization for tasks that impacted expectations. There was a two-fold impact due to this, firstly the customer was not able to progress well on the digital journey and secondly, our customer struggled to provide the required support to the existing legacy systems. Broken processes and disjointed experiences were the eventual outcomes.
The request Lisa logged in comes into the system, and John is assigned to service it. He uses the back-office application to verify the feasibility of the additional coverage, calculates the new insurance value and provides the inputs. However as there are no process or no proper procedures followed for
A typical scenario
H&I
How we tackled the elephant in the room
The complex, siloed and expansive systems were due for holistic transformation, but the client was hesitant due to the potential commitment that was required in terms of time, effort and money. The traditional IT and data infrastructure was a huge elephant in the room, that remained unacknowledged and ignored.
Client IT landscape
Challenge
Ideation
Execution
Outcome
The insurer was also facing an enormous challenge in utilizing the knowledge base and extensive experience of senior employees in the transformation. The biggest reason was they were still glued to the time-consuming legacy application maintenance activities.
To enable success for customer’s digital modernization journey, we knew that we needed to mitigate their biggest risk i.e. the legacy system maintenance and SME availability. So we created a roadmap that charted a 5-year journey towards process optimization and standardization. Gaps were identified and processes were reimagined to plug the leaks and process standardization in services was introduced in the applications with clear communication of stringent KPIs and SLAs.
The banking and insurance client had fingers in many pies, and the legacy systems were interlinked and complex. We carried out an extensive due diligence process that mapped the IT landscape and core applications including referential and master databases, claims system and agents’ databases to understand the challenges involved.
The outcome of the same was a foolproof transition plan with quality gates and defined benefits which helped get the immediate go ahead from the client. They were no longer afraid of the elephant and had decided to tackle it head-on.
Removing the hurdles from the path
Incident management
We zeroed in on incident management as a critical activity that had to be optimized. For this, we ran a trend analysis to spot patterns and address the source issues that were affecting effective resolution. A major gap was noticed in incident resolution with SLAs neither set nor adhered to and incidents not being directed to the right experts.
In order to ensure that the incident management was up to industry standards, we incorporated IT service management tools. Our proprietary IPs including Code Quality Verifier ensured standards were followed and Kanban methods helped streamline processes.
The maintenance process was standardized and integrated with application management. A single source of truth for knowing the quality and performance of the system was built that allowed for end-to-end tracking and created clear audit trails.
Another very critical business function at the client's was the execution and monitoring of batch jobs. The insurer recalculates claim reserves at the end of every day to ensure accurate data is available in the system and this is validated manually. Staying true to our core theme of Automate Everything , we resorted to automated batch monitoring of repeated tasks for better RoI, reduced efforts and time saving. By automating this activity, we were able to realize FTE and cost savings for the client.
We have extended this theme to business request handling as well and have already realized value addition to business users and end customers.
Batch Monitoring
TM
The game turns infavor of our client
Our efforts bore fruit before long and the client could see measurable improvements in almost all aspects of the business. Need we say more when almost 13% of the project cost was recovered by the client in TCO savings itself!
Efficient incident resolution leads to better efficiency and reduced the total cost of ownership of the system by 50%
Realized FTE and cost savings for the client by automating batch monitoring of repeated tasks
Our Client Wins
Over Lisa & Delights John
Now Lisa enjoys an intuitive and user-friendly interface, which helps her log in, manage her requests and utilize self service options with ease. The robust back-end system helps John service the request and execute the changes with ease leading to a win-win situation.
Conclusion
Application Managed Services are among our key offerings which enable businesses to function efficiently and dynamically in today’s world. With marked improvement in ease of doing business, our client was able to ensure the best customer experience and take products and services to market at a rapid rate.
Metro 101, Suite 600,101 Wood
Avenue South, Iselin,
New Jersey - 08830
Tel: +001-609-409-6950
Fax: +001-609-409-6910
NA Headquarters
152, Sector – 3
Millennium Business Park
‘A’ Block, TTC Industrial Area
Mahape, Navi Mumbai – 400 710
Tel : +91-22-67919595
Fax : +91-22-67919500
India Headquarters
Level 19, 40 Bank Street,
Canary Wharf,
London - E14 5NR
Tel: +44-020-77154100
Fax: +44-020-77154101
EU Headquarters
#09-01, One Finlayson Green,
1 Finlayson Green,
Singapore - 049246
Tel : +65-63253020
Fax : +65-6222728
APAC Headquarters
Level 3, 80 Mount St, North Sydney, NSW 2060, Australia
Tel : +61 2 9089 8959
Fax : +61 2 9089 8989
Australia Headquarters
About Hexaware
Hexaware is the fastest growing next-generation provider of IT, BPO and consulting services. Our focus lies on taking a leadership position in helping our clients attain customer intimacy as their competitive advantage. Our digital offerings have helped our clients achieve operational excellence and customer delight. We are now on a journey of metamorphosing the experiences of our customer’s customers by leveraging our industry-leading delivery and execution model, built around the strategy - Automate Everything , Cloudify Everything , Transform Customer Experiences . Hexaware services customers in over two dozen languages, from every major time zone and every major regulatory zone. Our goal is to be the first IT services company in the world to have a 50% digital workforce.
Learn more about Hexaware at www.hexaware.com
www.hexaware.com | marketing@hexaware.com
®
®
®
TCO reduction by 8% across 10 core applications
€650,000 in savings over 5 years
Near-zero downtime
User satisfaction index up 2x
Incident volume down by 50%
Service Management and no alignment with business prioritization, the request remained unattended. This rendered John the principal touch point with the customer helpless as he was unable to service the request as expected resulting into poor experience to the end customer, Lisa.
Million
Customers
1
2
3
4
5
1
2
3
4
5
1
2
3
4
5
1
2
3
4
5
Client IT landscape
Challenge
Ideation
Execution
Outcome
Client IT landscape
Challenge
Ideation
Execution
Outcome
Client IT landscape
Challenge
Ideation
Execution
Outcome
Client IT landscape
Challenge
Ideation
Execution
Outcome
Hexaware is the fastest growing next-generation provider of IT, BPO and consulting services. Our focus lies on taking a leadership position in helping our clients attain customer intimacy as their competitive advantage. Our digital offerings have helped our clients achieve operational excellence and customer delight. We are now on a journey of metamorphosing the experiences of our customer’s customers by leveraging our industry-leading delivery and execution model, built around the strategy — ‘Automate Everything ,
Cloudify Everything , Transform Customer Experiences .’
Hexaware services customers in over two dozen languages, from every major time zone and every major regulatory zone. Our goal is to be the first IT services company in the world to have a 50% digital workforce.
Learn more about Hexaware at http://www.hexaware.com
About Hexaware
Metro 101, Suite 600,101 Wood Avenue South, Iselin, New Jersey - 08830
Tel: +001-609-409-6950, Fax: +001-609-409-6910
NA Headquarters
152, Sector – 3, Millennium Business Park, ‘A’ Block, TTC Industrial Area
Mahape, Navi Mumbai – 400 710
Tel : +91-22-67919595, Fax : +91-22-67919500
India Headquarters
Level 19, 40 Bank Street, Canary Wharf, London - E14 5NR
Tel: +44-020-77154100
Fax: +44-020-77154101
EU Headquarters
180 Cecil Street, #11-02, Bangkok Bank Building, Singapore - 069546
Tel : +65-63253020
Fax : +65-6222728
APAC Headquarters
Level 26, #44, Market Street Sydney, NSW 2000, Australia
Tel : +61-2-9089-8959
Fax : +61-2-9089-8989
Australia Headquarters
www.hexaware.com | marketing@hexaware.com
®
®
®
Read at leisure