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How Digitizing an Insurer’s Core Processes Enhanced Productivity and Customer Experience

One of India’s largest P&C and health insurers was experiencing strong growth in gross written premiums but needed to enhance customer experience. In particular, changing customer expectations and new competitive forces made it imperative for the company to reimagine its customer journeys end to end.

BCG helped the company rethink its customer journeys all along the value chain (acquisition, claims, servicing, and renewals) to achieve dramatic improvements in turnaround times and rates of “first time not right” (FTNR), as well as overall operational productivity.

Digital Answers to Customer Needs

The key to the transformation process was a customer-centric approach. For the company’s customer acquisition, servicing, and claims processes across its various product lines, BCG worked closely with the clients to conceive, design, and implement digital solutions. For example, we helped to create a digital tool that could replace paper documentation, manual data entry, and limited customer communication with automated data capture, instant rule engine-based processing, and transparent communication.

For automotive insurance, these changes enabled issuance of policies at point of sale—reducing turnaround time from six days to near-instantaneous and the FTNR rate from about 45% to less than 10%. Similar work transformed the purchasing process in the company’s health insurance line of business.

Results for the company’s health insurance claims processing have been similarly impressive. BCG helped introduce digitization use cases: substituting automated system checks for manual ones and digital data capture for manual entry; introducing segment-based claims processing; and developing a front-end tool for hospitals that eliminated the need for email communication. By these means, the company reduced multiple handoffs in the claims process to just one, reduced turnaround time by 90%, and reduced frontline operating costs by approximately 25%.

This transformation was accomplished through agile project management—with customer journeys reimagined and solutions continually tested and refined by teams of users. This way of working not only led to dramatically improved processes but also helped create capabilities in the company that have laid the foundation for future competitive advantage.

Insurance
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