WNS - Insurance Outsourcing | Insurance BPO | Insurance Outsourcing Services
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WNS Solutions for Insurance Industry

Intense competition, shifting customer loyalty, entry of new players and a stringent regulatory environment are contributing towards creating a tough insurance market.

Insurance companies are now under pressure to change their business models, streamline operations and improve process efficiencies. Industry leaders are increasingly turning to insurance outsourcing to help them compete and grow.

WNS's insurance outsourcing solutions are built on its deep experience of delivering business processes for several of the world’s leading insurers. WNS combines deep domain expertise, strong talent and operational excellence that allow insurers to focus on their core business, while WNS optimizes the power of technology and manages industry-specific processes, finance and accounting, business and financial research, and analytics.

WNS's insurance outsourcing service offerings extend across the insurance value chain of Property and Casualty, Life, Pensions, and Annuity. The WNS insurance outsourcing solution provides the benefit of cost reduction, ensures information security and maximizes customer retention.

WNS's insurance outsourcing service offerings include:

Property and Casualty

 ■  New Business
  • Data Management
  • Channel Support
  • Quotes
  • Premium Calculations
  • Sales / Quotes Acceptance and Conversion
  • Customer Retention / Cross and Up-sell
  • Customer Enquiries
  • Actuarial Support
  • Exposure Assessment
 ■  Policy Set up
  • Underwriting
  • Underwriting Support
  • Verification / Validation
  • Delivery Requirements
  • Premium Calculation
  • Follow-up
  • Policy Issue
  • New Business Rating
 ■  Policy Changes
  • Customer Service
  • Name / Owner / Address Changes
  • Certificate Re-issue
  • Adjustments / Endorsements / Rider and Coverage Changes
  • Renewals and Quotes
  • Cancellations
 ■  Premiums
  • Collections
  • Remittance Exceptions
  • Reconciliations
  • Refunds
  • Billing
  • Premium Mode Change
  • Bank Changes
  • Premium Audits
  • Customer Service
 ■  Claims
  • First Notification of Loss
  • Claim Set-up
  • Investigation / Examination
  • Review and Assessment
  • Coding
  • Reserves
  • Customer Service
  • Policy Specific Emergency Assistance
  • Supplier Support
  • Excess / Deductible Management
  • Settlement Agreement
  • Third Party Claims (Property Damage and Bodily Injury)
  • Subrogation
  • Recoveries
  • Fraud Checks
  • Claim Finalization
 ■  Payments
  • Customer Service
  • Settlement Payments
  • 3rd Party Payments
  • Closing Payments
 ■  Support Services

Life, Pensions and Annuities

 ■  New Business
  • Channel Support
  • Quotes
  • Customer Enquiries
  • Actuarial Support
 ■  Policy Set up
  • Underwriting Support
  • Money Laundering Check
  • Delivery Requirements
  • Follow up
  • Enrollment
  • Policy Issue
 ■  Policy Changes
  • Customer Service
  • Name / Owner / Beneficiary / Address Changes
  • Certificate Re-issue
  • Adjustments / Endorsements / Rider and Coverage Changes / Fund Changes
  • Lapses
  • Quotes & Reinstatements
  • Renewals and Quotes
  • Terminations
  • Cancellations
  • Surrenders
 ■  Policy Benefits
  • Policy Loans
  • Withdrawals
  • Dividend
  • Customer Service
 ■  Premiums
  • Collections
  • Remittance Exceptions
  • Fund Application
  • Reconciliations
  • Refunds
  • Billing
  • Premium Mode Change
  • Premium Holidays
  • Bank Changes
  • Premium Audits
  • Customer Service
 ■  Payments
  • Customer Service
  • Closing Payments
  • Automatic Payment Withdrawals (APW)
  • Maturities
  • Tax Competence
 ■  Support Services
  • Document Management Support
  • IT Support Support
  • HR and Payroll Support
  • Finance and Accounting Support
  • Analytics Support
 ■  Agency / Distribution Management
  • Insurance Provider Set-up
  • License Registration
  • Contracting
  • Customer Service
  • Renewals
  • Terminations
  • Commissions
  • Special Compensation
  • Accounting
  • Cash Application
  • Billing

Insurance Case Studies

General Insurance
General Insurance: Data and Analytics WNS helps reduce operating costs by GBP 1.3 Million by building an advanced middle office Center of Excellence for a leading global insurance player
Insurance
Insurance: IT Helpdesk A global insurance company found that over time its IT helpdesk activities had become quite cumbersome.The client engaged WNS to tighten its IT proces...
Life Insurance
Life Insurance: Actuarial reporting Improving operational efficiencies and accuracy of actuarial reporting for a leading insurance provider
Insurance
Insurance: Claims processing, Customer service Increasing a multi-line insurer's debt recoveries by 30 percent while reducing the time taken for settlement of claims by 40 percent
Insurance
Insurance: Insurance underwriting, Claims administration, Broking operations Consolidation of processes and improvement of response times for a UK based Insurance Company
Insurance
Insurance: Analytics Formulated lifetime model for agency compensation to boost sales productivity
Insurance
Insurance: Demand modeling Created a comprehensive demand model to help a leading insurer increase customer retention by one percent.


Insurance Resources

Webinars
BIG DATA, SMALL STEPS - An Analytics Journey from Data to Intelligence
BIG DATA, SMALL STEPS - An Analytics Journey from Data to Intelligence David Woodcock, Vice President R&A, WNS Michael Nemeth, SVP Client Services, WNS Sanjit Bhoumick, SVP Sales, WNS James Russell,Head of Commercial Claims Transformation, Aviva UKGI