Insurance
Case Studies
Improved the Turnaround Time for New Policy Underwriting and Renewals Process.
Our P&C Solution
The Challenge
The client is a leading P&C Auto Liability Carrier on the East Coast providing TLC required Commercial Auto Liability, and Physical Damage coverage in the NY area. They had the challenge of processing the new policy requests and renewals on time, leading to dissatisfied customers.
Our Solution
Our underwriting expert team worked closely with the client to understand the workflow and did process mapping to identify the issues causing the delay in processing the new policy and existing policies renewal requests.
Benefits
Pride's experienced underwriters improved the turnaround time from 48 hours to 12 hours and thereby increasing the underwriting capacity for new business and value-added services with a reduced cost by 60%.
Our WC Solution
The Challenge
The client is a leading Workers Compensation (WC) Carrier on the East Coast providing Workers' Compensation benefits, in the Tri-state area. The WC carrier receives First Notice of Loss (FNOL) from the injured worker or policy holder. The Claims Intake team reviews the notice and submit the forms to WCB. The review process averaged about 3 days before completing the claims intake process. The customers were unhappy with the processing time of intake.
Our Solution
With the help of our experienced WC claims intake team at Pride BPO, we streamlined the process and had the right resources in place to set-up the claim in the system on the same day. By doing so, we were able reduce the processing time from 3 days to 1 day, much to the delight of the client and their customers.
Benefits
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Avoided backlogs and critical delays in the new claims set-up
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Eliminated overtime requirements for Intake team
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Improved customer satisfaction
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Client saved ~50% on payroll costs alone
