Insurance Broker Outsourcing | Brokerage Services | BPO Brokers

Navigating Key Challenges

For far too long, insurance brokers have relied on traditional means to battle market upheavals. But in the face of an onslaught of digital technologies (threatening disintermediation), insurtech startups disrupting the supply chain, and fierce competition driving down pricing, brokers have been compelled to embrace change.

In a volatile market, companies are now looking to adopt innovative and next-gen practices geared towards addressing their core business challenges of:

Operational Inefficiencies and High Costs:
Dependency on legacy systems has increased process complexities and created roadblocks to infra modernization and integration. Labor-intensive administrative tasks are preventing companies from curtailing costs and building greater capacities. While costs are on the rise, they are unable to leverage pricing to drive revenue growth due to a highly commoditized marketplace.

Poor Customer Experience:
Technology has simply re-defined customer experience. While traditional players (plagued by operational complexities) have been slow to adapt, a new class of agile competitors backed by cutting-edge digital technologies has quickly pounced on the opportunity prioritizing customer convenience and personalization.

Stagnant Revenue Growth:
In absence of the ability to harness data and analytics, companies lack (business and customer) insights needed to power new offerings, achieve optimal pricing, reduce customer churn and curb fraudulent activities.

Co-creating Enduring Success through Comprehensive Transformation

WNS partners with global insurance brokers to drive expansive business transformation underpinned by strategy, domain, process excellence, technology and analytics. We intermingle effective business strategies with industry-leading operations methodologies, breakthrough automation technologies including Artificial Intelligence (AI), Machine Learning (ML) and Robotic Process Automation (RPA), and embedded analytics to power a pervasive change.

Efficiency Improvement & Cost Reduction

Technology-, Process- and Strategy-led Transformation

Decoupling work based on complexity and right-shoring to create capacity
Process and product standardization
RPA enhancing straight through processing
AI-led decision engines reducing complexity

Customer Experience

Deployment of State-of-the-Art Digital Solutions

End-to-end client management
Market-leading e-trade
Automated invoicing
Standardized ways of working
Integrated, real-time communication, MI & dashboards

Revenue Growth

Convergence of Data & Insights across Multiple Channels

Embedded analytics for prospect identification
Pricing analytics
Customer retention analytics
Fraud analytics
Claims triage and analytics engine

WNS Capabilities

WNS provides key services across the insurance broking value chain encompassing pre-binding and post-binding activities – client profiling, placement, invoicing, IBA & credit control, binder & cover management, claims, finance and accounting, HR outsourcing and actuarial.

We collaborate with leading wholesale and retail brokers and are experienced in all distribution models/channels including Managing General Agent (MGA), Managing General Underwriter (MGU), surplus lines and specialty insurance carriers.

“This allows Aviva to continue our working relationship with a provider that truly understands the insurance industry and has a tireless commitment to process excellence and customer care, making WNS our partner of choice.”

Cathryn Riley

Chief Operating Officer, Norwich Union Life, Chairman, Aviva Global Services

Named a ‘Leader’ and a ‘Star Performer’ in Everest Group’s 2019 PEAK Matrix™ Assessment for Property and Casualty (P&C) Insurance BPO

The WNS Advantage

Armed with rich industry experience and advanced capabilities in technology and analytics, WNS co-creates transformational solutions with clients in the insurance broking space.

15+ years of industry experience

Partner to 50+ leading MGAs, brokers, insurers/carriers

Smart digital platform & workflow solutions

In-depth regulatory experience

9000+ insurance professional services

1000+ broking professionals supporting clients across 35+ countries

350+ strong analytics team for broking

One of largest Actuarial and Analytics Practices

One of the largest Actuarial and Analytics practices

Our services encompass multiple lines of business including auto/fleet, property, liability, marine, engineering/construction, SME, agriculture, workers compensation, strata and various specialty lines.

A leading U.K.-based broker transforms operations & realizes significant benefits

Case:

WNS deployed a shared services model with RPA, analytics, AI and ML as the key transformation levers

Related To: Insurance Transformation Brokerage Services RPA

A global insurance broker transforms business processes

Case:

WNS delivered significant value through capacity creation, right staffing and process standardization

Related To: Insurance Brokerage Services

A specialized insurance provider achieves key efficiencies

Case:

WNS implemented digital workflow adoption, operating model transformation, standardization and CoE model

Related To: Insurance Transformation Digital Transformations

Recognition

Recognized as a service provider with the widest range of services and depth of experience across the Insurance value chain.

Positioned as‘Leader’ in Insurance BPO PEAK matrix

Ranked as ‘Leader’ in Insurance –P&C Insurance and Life Annuity & Pensions BPM and overall BPO

Leader in Global Insurance BPO Solutions by HfS Research

Case Study Co-creation Enables Personalized Marketing Promotions Using Analytics

Related To: Retail and Consumer Packaged Goods Research and Analytics Personalization

Blogs Innovation in Retail: Why Companies Need to Up the Game in Content Management

Related To: Customer Experience Retail Content Management

Whitepapers Re-imagine Procurement With the Next Generation Operating Model

Related To: Procurement Analytics operating models Digitization

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