CLIENT OVERVIEW
The client is a Fortune 500 company that sells auto, home,commercial, and life insurance.
BUSINESS CHALLENGE
A Fortune 500 insurer sought to improve its content management and production capabilities to deliver a better adjuster and claimant experience, enhance the efficiency of its claims document processes, and greatly reduce costs associated with claims documents. Its claims letter program did not provide enough flexibility for the insurer’s claims handlers to create customized letters and route them for approval, resulting in an average document processing time of around four days. These rigid and time-intensive processes made business users heavily reliant on the IT team for any necessary changes or updates.
The insurer’s previous tech stack consisted of a legacy dictation processing system and a homegrown system that enabled the team to issue standard, template-based letters. In order to democratize customization capabilities and improve efficiency across its claims content processes, the carrier decided to implement a modern content solution that could integrate smoothly with its newly implemented primary claims solution.
Leveraging a modern platform would allow business users to make letter updates without IT involvement while still providing a controlled environment that ensured messaging was consistent and compliant across the organization. In addition to this factory concept, which eased the maintenance of document templates and improved efficiency, the insurer wanted to enable electronic signature and notarization of documents as well as to automate e-delivery options, status tracking, and the approvals process.
SOLUTION OFFERED
As a long-time strategic partner to the insurer, ValueMomentum was involved in all phases of the project, from business analysis to development to quality assurance (QA). The team worked to identify the platforms that would deliver the experience and efficiencies the carrier’s claims organization was looking for.
ValueMomentum conducted a demo on the new CCM tool features and implemented a proof of concept to determine the feasibility of the tool meeting the insurer’s business needs and integrating with the claims system’s front end.
The CCM was used for document creation, editing, and a notification center for delivery status. In addition, it enabled the insurer to create custom letter templates with the ability to edit, save, track statuses, and process documents through approvals. The new platform was also integrated with the carrier’s enterprise content management application, which stores all letters generated for future reference via the claims system. After steering the project through its integration phase, ValueMomentum also conducted QA, including functional, nonfunctional, integration, and automation testing.
The teams leveraged an Agile Scrum process, which included close collaboration with the business team, and worked on two-week sprint cycles of delivery. Limitations within the CCM tool were addressed by raising enhancement requests with the platform’s product team. On top of that, ValueMomentum arranged for training on new technology involved with the integration gateway.
The modernization has transformed the claims team’s workflows into seamless experiences that take correspondence through approval cycles when needed and include dashboarding and notification mechanisms.
VALUE DELIVERED
Modernizing its claims content management platform and workflow has helped the carrier drive operational efficiencies by minimizing the need for dictation of custom letters and transcription processing, reducing manual processes for claims adjusters and branch support staff, lowering operational costs associated with digitizing letters, decreasing the number of support tickets submitted for letter updates by creating the factory concept, and cutting the cycle time between letter development and approval down from four days to below three hours.
The project has brought more functionality to the business users, such as the ability to store author information and approver details in the platform, the ability to pre-populate claims-related details directly in the editor, and automated approval and print processes. The modernization has also transformed the claims team’s workflows into seamless experiences that take correspondence through approval cycles when needed and include dashboarding and notification mechanisms. Roadmap items include additional digital capabilities like e-signature to continue optimizing efficiency and the end-user experience. Modernizing these systems is projected to drive annual savings of $1 million.
