Policy Servicing - Omnichannel Policy Servicing

INSURANCE

Omnichannel Policy Servicing

Enhance customer engagement through participative and multi-channel policy servicing with automated and agile processes.

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Our solution for Policy Owner Servicing helps improve service levels by automating the query/ request execution workflow. The solution opens up new channels for registration of customer queries and ensures faster response to these queries. Using this solution, you can manage interactive communication with customers for more participative policy servicing.

Further, the solution supports automatic allocation of cases based on request type. It supports straight through processing of low complexity submissions and auto flagging of non-straight through cases. Using this solution, you can ensure multi-channel service request initiation for your customers. This results in enhanced customer satisfaction with the reduction of turn around time for request fulfillment.

Case Study: Newgen Executes World's Largest DMS implementation

Over 7 billion documents scanned, digitized and archived for one of the leading life insurance company in India.

Parallel Processing
Newgen Policy Owner Servicing solution is designed to handle complicated scenarios where single customer could make multiple requests, which could either be for one policy or for more than one policy

Auto-Ingestion of Policy Details
Newgen solution seamlessly integrates with Policy Admin System to auto fetch details related to the policy for which endorsement request has been made. This reduces manual effort of finding and locating each relevant field required for endorsing the policy

Underwriter Workflow
Newgen solution is equipped with rule-based algorithms for straight-through-processing of low complexity endorsements/service requests and automatic flagging and assignment of non-straight through cases to the underwriter workflow

Audit Logs of Transactions & Processes
The solution provides easy traceability of each request and corresponding documents. This ensures regulatory compliance met due to traceability, automated reminders and escalations. The system performs quality check of application forms & documents and discrepancy resolution

Template Based Document Generation
Customer Communication Management component of Newgen solution enables template based document generation to make the customer communication faster and more effective adding to the customer’s delight

  • Reduced turnaround time for Policy servicing
  • Reduced Operational Costs
  • Enhanced customer satisfaction
  • Reduction in document handling cost
  • Adherence to strict response times defined by regulator

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Exclusive Interview with Oliwia Berdak on Digital Disruption in Insurance

In this exclusive interview, Oliwia Berdak, Senior Analyst, Forrester Inc., discusses areas of disruption in Insurance.

REINVENT INSURANCE

Policy Servicing - Leading Insurance Company in Cyprus Automates Key Insurance Processes

Leading Insurance Company in Cyprus Automates Key Insurance Processes

Automation of Claims, Assessment and Renewal Notice Processes for a leading Insurance company in Cyprus.