Insurance claims handling is complex process where many things can go wrong if the right policies are not used. In those cases it can also be a lengthy and very costly process. Usually it is not immediate clear where in the process something went wrong. Therefore finding financial bleeders or opportunities for cost saving and process optimization can be a tedious process.
Approach and solution
Working closely with management, product managers, data engineers and claim handlers to generate and/or gather the relevant data (metrics, KPI’s).
Performing advanced data analytics to create new insights and/or develop predictive models. Translating these new insights into practical recommendations for the performance improvement of the processes and interventions. Furthermore we also designed and developed dashboards & visuals containing overviews on Claims, Damages, Causes, Events, Benefit types, Objects, Trends etc..
In combination with the implementation of Claimhandling Analysis Tool, employees are now able to carry out quick and adequate analyzes and thereby generate added value for the business.
Lead times for finding differences and opportunities for cost savings and / or efficiency improvement drastically shortened from days to minutes.