Need for a Digital and Agile Ecosystem

 

Legacy systems and processes have not only led to operational inefficiencies and high costs, but are also thwarting the company’s smooth transformation into an agile, innovative, and future-ready business. This transformation is paramount as organizations strive to thrive in a competitive market by driving improved customer experience, streamlined risk management and insights-driven decision-making.

This is where WNS’ industry-first Insurance-in-a-Box offering – a unique ‘Platform + Business Process Management (BPM)-as-a-Service’ target operating model – can bring decisive gains to (re)insurers. It leverages dynamic digital platforms enveloped in an agile ecosystem to future-proof business.

Through Insurance-in-a-Box, WNS can help set up (re)insurance operations from the ground up, executing technology platform deployment, process design and implementation, and transformation across all functional towers. Designed to deliver sustainable competitive advantage with radically shorter go-to-market times, this modular solution supports core insurance operations while delivering Finance & Accounting (F&A), Human Resources (HR), and analytics and technology services.

Key Components of WNS Insurance-in-a-Box


Front Office Client Retained Organization Diagram

 

WNS helps (re)insurers co-create the company of the future underpinned by:

  1. Dynamic Digital Platforms: We collaborate with leading platform providers and offer modular, easy-to-deploy and low-code platforms that meet the fundamental enterprise needs of scalability and improved speed-to-market. Not only do we drive platform integration, testing and deployment, we also deliver the gains of expedited and expedient implementation.

  2. Contextual, Data-powered Processes: WNS has a comprehensive repository of robust (re)insurance processes, lean and benchmarked against industry standards. We also offer agile processes for horizontal functions. We can contextualize and tweak these processes to suit specific business needs. All our processes have embedded analytics, focused on delivering actionable insights through self-serve, smart and customizable dashboards.

  3. Combined Advantage of Domain & Horizontal: WNS has a strong team of 10,000+ (re)insurance experts along with over 1,500 insurance F&A and HR resources. We apply this deep domain knowledge to the end-to-end process – right from process definition to platform implementation – to significantly decrease cost of operationalization and drastically accelerate speed-to-market.

“Our team at Convex is excited to be building the “insurance company of the future” free from legacy systems and processes. We believe WNS has the operational excellence needed to support the execution of our business strategy. We are building a platform which is flexible, scalable and efficient and WNS will be a great partner to support us on our journey.”
Adrian Spieler Convex

Adrian Spieler
Group COO, Convex

Why WNS?

 

WNS is a proven player in delivering transformative gains through the smart interplay of domain, process, technology and analytics.

Deep Domain Knowledge

Over two decades of experience in driving transformation in the insurance industry and a strategic partner to more than 55 global insurance clients.

Industry First

Successfully delivered an end-to-end ‘Platform + BPM-as-a-Service’ operating model for a leading specialty (re)insurance company.

Beyond Legacy

Delivering customized platforms free from legacy systems and processes and aligned with the future.

Digital Edge

Helping (re)insurance companies stay ahead of the curve by creating a digital taskforce. Delivering best-in-class outcomes through bolt-on tools, customized reporting suite and artificial intelligence, machine learning and blockchain solutions.

Embedded Analytics

Delivering analytics-embedded processes to provide actionable insights and help seize business opportunities.

End-to-End Ownership

Assuming complete ownership – defining, designing, integrating, testing and deploying processes and platforms.

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