The client is a leading global claims management and outsourcing solutions leader, managing $18B+ insurance claims across 70 countries annually.
Persistent has nurtured a long-standing relationship with the client for over six years, helping them in their strategic objectives to improve customer experience across multiple product lines covering Claims, Risk and Case Management. We have recently expanded our relationship by supporting platform development for enterprise-wide document management and helping to drive strategic business initiatives focused on adding value to the end customer.
Following an aggressive acquisition history, the client struggled with an increasingly complex application environment of disparate claims systems serving multiple lines of business and different time zones.
Siloed teams working in various time zones led to a disconnected application environment that created fragmented business flows, cost-inefficient IT operations, increased turnaround time for claims processing and management, and added maintenance overhead.
The client needed a strategic partner to consolidate numerous engagements and vendors to provide unified, global support to multiple business service lines, examine their existing IT infrastructure and applications holistically, and then take end-to-end responsibility for its administration.
This would allow them to reduce claims processing time and enhance process efficiency and customer loyalty. This required enhancements and support for 50+ applications and 150+ components across multiple technologies and simplifying legacy application and technology stack to reduce maintenance overhead.
Recognizing the client’s challenges, Persistent took end-to-end ownership of the digital transformation across three platforms, eight product lines, and seven technology stacks to provide fully managed services. The team delivered an improved touchless claims management experience by optimizing turnaround time, reducing downtime, and improving efficiency with AWS Migration Services and Persistent’s ExtenSURE solution.
Persistent’s ExtenSURE, a first-of-its-kind proprietary framework for intelligent product sustenance engineering, helped strengthen application services and created a 24×7 support model with proactive monitoring. It takes a data-driven approach to product transition and transformation, giving software companies the actionable insights they require to extend the life of their legacy products. In this project, Persistent used its ExtenSURE framework to evaluate and provide the legacy modernization roadmap necessary for digital transformation success.
To add to the touchless claims management experience, Persistent provided ‘always-on’ customer service for insurance partners and end customers. Persistent re-engineered the client’s legacy applications by leveraging a unified data model, the latest technologies and a rich partner network.
We achieved the strategic objective to optimize the claim settlement process through operational transformation by:
- Simplifying and reducing maintenance overhead for their application and technology stack
- Establishing a shared services model to provide global support to business service lines while catering to local demands
- Digital transformation for managing end-to-end claim process and providing solid infrastructure to improve end client satisfaction.
Persistent brought in SMEs who had a solid understanding of insurance business processes and worked with the client team to deliver an unparalleled claims management experience while reducing costs and improving efficiency.
Our charter was to support traditional Application Delivery Management (ADM), IT and infrastructure outsourcing. This involved not only meeting or exceeding required service levels but also enabling the transformation to a ‘digital native’ mindset, including looking at future opportunities such as auto-adjudication and straight-through processing.
Persistent’s dedicated support and innovative solutions helped the client improve the experience for insurance partners and the end-customer across multiple product lines, contributing positively to customer satisfaction and retention.
With touchless claims management and claims process optimization, Persistent helped improve customer satisfaction and policy retention, enabling the client to deliver year-on-year productivity gains and strengthening their performance relative to the industry benchmark of ~30 days. Moving forward, the client aims to reduce costs through additional hybrid-cloud data center optimization that will decrease their annual operating cost by 33% in the next two years.