Insurance Services Outsourcing

The overall trend in the general insurance market is one of falling premiums and rising claims. Claims indemnity spends or claims leakage is the largest component of an insurer’s expense base. The most costly form of general insurance claims fraud is opportunistic retail fraud where a genuine claim is inflated in order to increase the value of a payout. Claims leakage takes place due to other factors like human error, and costs towards customer service and customer retention. Being a leader in the insurance domain in terms of outsourced offerings, WNS can address these concerns by leveraging technology and processes to significantly reduce the costs incurred by insurance companies during claims processes. WNS’s Center of Excellence model can provide solutions to real-world insurance challenges, and accelerate value creation for general insurers by reducing operating costs, increasing efficiency and ensuring insurers remain competitive.