Insurance BPO | Insurance Process Outsourcing

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Growing competition is leading to increased commoditization of insurance products. Market dynamics are forcing insurers to add new levels of customization to accommodate changing customer expectations. At the same time, reducing time-to-market for new products and ensuring top-notch customer experience! Insurers are also looking to transform their business processes while actively seeking customer intelligence and advanced analytics to drive profitability. Plus, there are always changing regulatory requirements, lack of skilled manpower and shrinking margins to contend with.

WNS, with its deep domain expertise, built over a decade of servicing insurance clients, acts as a strategic partner to insurers helping reduce time-to-market and operational risks during new product launch or entry into new geographies. We also partner with insurance companies in transforming their critical processes, manage costs and regulatory requirements, besides leveraging analytics to drive consumer insights.

We are a trusted partner to more than 30 insurance and re-insurance clients offering end-to-end solutions across the insurance value chain. We have a vast experience working with life and annuity, retirement, property and casualty carriers as well as leading brokers and re-insurers.

WNS Insurance-in-a-Box
A first-of-its-kind operating model that combines best-in-class industry platforms and
BPM to help (re)insurance companies become innovative, agile and future-ready

A leading global insurer reduces operating costs by GBP 1.3 Mn

Case:

WNS helped reduce operating costs by building an advanced middle-office Center of Excellence for the client

Related To: Insurance Insurance Provider Set-up

A multi-line insurer increases debt recoveries by 30%; reduces time taken for claim settlement by 40%

Case:

By re-engineering processes, WNS made a significant impact on the client’s bottom-line and reduced claim lifec..

Related To: Insurance Industry General Insurance

A leading insurance provider improves operational efficiencies and accuracy of actuarial reporting

Case:

WNS took over a large part of the reporting and actuarial requirements, allowing the client to focus on strate..

Related To: Life Insurance Insurance

ISG recognizes WNS as a ‘Leader’ in its ISG Provider Lens^TM Quadrant Report for the U.S. and Archetype Report for Digital Insurance BPO Services 2019

In the Buyer Archetype Report, WNS has been recognized as a ‘Leader’ for the following client archetypes:

Conventional Buyers
Bot Deployers
Digitally Progressive Buyers
Integrated Solutions Buyers

In the Quadrant Report, WNS has been recognized as:

A ‘Leader’ for Property & Causality Insurance Services
A ‘Leader’ for Life & Annuity TPA Services
A ‘Rising Star’ in Buyer Quadrant Report for Life & Annuity Digital Services

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The WNS Advantage

Expertise in high value complex processes

We possess deep expertise in delivering actuarial services, adjudication, subrogation and other complex high value processes that can help accelerate companies on the path to outperformance.

Insurance-in-a-Box

We offer back-office support and end-to-end capabilities for new product introductions, new sales channels and new geographies. We enable ‘shell’ companies to enter niche markets or provide niche products.

Flexible commercial models

Our commercial models are flexible in every aspect—from scope, pricing, to scale and involve risk sharing. We customize solutions to fit the needs of insurance clients.

Right-shoring

We have presence across various countries in the Americas, Europe, South Africa and Asia, which allows us to provide the best combination of onshore, offshore and nearshore delivery capabilities.

Embedded Analytics

We embed analytics in client processes to provide insurance companies actionable insights to translate trends and opportunities into profitable growth, beyond efficiency gains.

Consultative, transformative delivery model

We employ a fix, shift and transform delivery model and not a lift and shift or "your mess for less" model. Our deep process expertise helps us optimize existing client processes.

Services

Property and Casualty Life and Annuities Actuarial Brokerage Services Analytics Anti-money Laundering and Know Your Customer Regulatory Compliance & Risk Reporting Third-party Risk Management Fraud Management Services Credit Risk Management and Underwriting Services Fraud and Risk Analytics Model Risk Management Claims Management

Solutions at a Glance

WNS TRAC™ is a consolidated suite of comprehensive, next-generation technology solutions for managing complex business processes for our clients across industries. WNS’ Insurance TRAC leverages a decade-long domain expertise to help insurers maximize the value from new technologies, embed the power of analytics, develop new operating models, and improve processes and governance.

DEEP DIVE

Broker Connect Broker Connect is a state-of-the-art mobility solution, which meets all the requirements of insurance brokers and financial advisors. This mobile app has a host of features such as real-time status update / push notifications on new policy set-up as well as policy amendments. What’s more, brokers can call up their customers through Broker Connect, ensuring enhanced customer experience.DEEP DIVE WNS’iPASWNS’iPAS is an Insurance Policy Administration System Integrator that helps in end-to-end lifecycle management of insurance policies. It offers a unified view of operations spread across multiple geographies with real-time distribution of work to manage high-transaction volumes. DEEP DIVE

eAdjudicatoreAdjudicator - A cutting-edge solution that automates the end-to-end adjudication process of various types of claims. Driven by robotic process automation and analytics, it factors in in-built rules and models for processing claims. The automation process improves the insurer’s claims settlement rate with enhanced efficiency and accuracy. eAdjudicator works as an independent platform, and also as a bolt-on over legacy adjudication engines.DEEP DIVE

WNS Actuarial Proprietary PlatformThis WNS’ Actuarial Proprietary platform creates a central repository for all assets including assumptions, facts, scenarios and supporting data. It enables the creation of business rules to extract data and create asset files for actuarial modeling software.DEEP DIVE

WNS’ Customer Experience Analytics SuiteWNS’ Customer Experience Analytics suite for insurance companies is designed to transform customer experience. The solution addresses barriers to enhanced customer experience at every touch point across the customer journey, by focusing on customer-oriented and operational metrics.DEEP DIVE