A US-based Insurance and Annuity Provider Modernizes End-to-end Policy Servicing with Newgen

Overview

The customer is an established insurance provider serving clients across the United States and specializing in variable annuity portfolios for insurance businesses. The company needed a solution to efficiently manage data, streamline operations, and achieve quick servicing mechanisms. The large volume of service requests delayed the insurer’s processes and increased costs. High turnaround time and lapses in SLA compliance due to high dependency on manual processes posed challenges.

How Newgen Helped

The customer partnered with Newgen to implement its Business Process Management (BPM) and Contextual Content Services (ECM) platforms, along with Digital Policy Servicing solution. With capabilities such as intelligent content classification, case management, automated batch processing and user monitoring, the implementation accelerated customer interactions, enhanced operational efficiency, and improved service delivery.

Implementation Impact

• Migrated 40 TB of content from the legacy system
• Optimized over 100 business processes and workflows
• Converted four legacy systems into one consolidated AI-based repository
• Enabled access to 400 users across the back office and contact center

Download the complete case study to know how Newgen’s innovation proved to be a game changer for the insurer.