As a market leader, the insurance company’s vision is to drive innovation and operational excellence and give each one of their customers the best value and experience.
Claims management plays an integral role in achieving this objective and is responsible for the decision making and operating expenses.The claims representattive is the first point of contact for insurance customers when they file a claim.The representative need to be highly capable in providing customer service and processing requests, while at the same time ensuring policy holders do not violate insurance contract payment terms. The revenues of the company are directly dependent on the competency of the claims representatives.
With increased competition, a volatile economy and the profitability of the organization riding high on the performance of these claims representatives, the insurance company needed a robust performance management system to manage the productivity of its 16,000representatives. They required a platform that could give a holistic view of the talent available. This included proficiency levels,outcomes against determined performance measures, behavioural patterns, customer satisfaction levels and areas of training and development.
The insurance company invested in a Business Intelligence (BI) solution for the performance management of its claims representatives.
Unfortunately, the organization was unable to experience the full benefits of the solution even after several months.