This client is a leading provider of insurance products in Europe with substantial business entities and units located around the world.
In the highly competitive insurance business where the bottom line has become a singular focus and customers are less loyal than ever, our client's challenge was to efficiently manage and improve its debt recoveries collections, while enhancing the customer experience.
In 2004, the company recognized that, by outsourcing the entire motor claims recovery and dispute management operations to a third party provider, it would be able to tap into a team of trained insurance specialists and leverage proven tools, methodologies and quality assurance processes. This would in turn, allow management and staff to increase its focus on its core business. In the scope for transformation included key processes within the client's general insurance business debt recoveries collections and dispute management of claims.
The WNS Solution
WNS focused on transforming the key processes of the client's motor claims recovery business to eliminate system inefficiencies and reduce the claim life cycle. By re-engineering the delivery teams to include insurance specialists, creating activity-based teams, implementing distributed workflow processes, introducing Six Sigma initiatives establishing effective communication frameworks and designing efficient tracking systems, WNS was able to minimize costs and increase revenue, while improving quality and efficiency.
Extending Your Enterprise
The WNS team significantly increased daily collections for its client and reduced claim life cycle time resulting in greatly elevated customer satisfaction levels. Moreover, WNS was able to add value by generating additional business through increased collections per year, significantly impacting the business unit's bottom line.