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Awards & Recognition

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WNS Recognized as a ‘Leader’ in Digital Platform and Augmentation Suite (DPAS) in Insurance BPS (2022) by Everest Group

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WNS Recognized as a ‘Leader’ in P&C Insurance (2022) by Everest Group for the 8th Consecutive Year

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WNS Recognized as a ‘Leader’ in Operations Transformation for P&C and LA&P Services (2022) by NelsonHall

Success Stories

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WNS’ advanced replicable and scalable analytics and data science solutions enabled a global insurer gain USD 90 Mn in fraud recoveries, USD 20 Mn through underwriting excellence, ~USD 50 Mn via customer experience solutions, and ~USD 25 Mn through distribution optimization

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A leading insurer saved USD 13 Mn in a span of five years by identifying duplicate payments and leakages in its claims invoicing process through WNS’ insurance analytics solutions

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WNS SKENSE helped a leading US insurer achieve 88 percent automation of the indexing volume and a 68 percent reduction in average handling time to significantly improve customer service and operational efficiency

 
 

Testimonials

“This allows Aviva to continue our working relationship with a provider that truly understands the insurance industry and has a tireless commitment to process excellence and customer care, making WNS our partner of choice.”

Cathryn Riley, Chief Operating Officer, Norwich Union Life, Chairman, Aviva Global Services

 

Insurance Analytics Services

Property and Casualty (P&C)

Sales-Distribution-Analytics

Marketing and Customer Analytics

Customer and marketing analytics enhance value creation at each touchpoint of the customer life cycle. Our analytics interventions are aimed at helping clients improve customer engagement to boost customer delight, customer retention and re-activation.

Sales / Distribution Analytics

Maximizing growth in the insurance industry depends on effectively managing multiple distribution channels. WNS’ Distribution Analytics solutions help insurers enhance ROI by enabling lead conversions, channel optimization and improved agent performance.

Underwriting and Pricing Analytics

Using advanced analytics, WNS automates the underwriting process and improves the loss ratio for higher profitability. We effect underwriting and pricing transformation through a consulting-led delivery approach accelerated through proprietary WNS products and accelerators.

Claims Analytics

The claim process is critical to achieving operational efficiency, reduced indemnity leakages and superior customer experience. WNS’ Claims Analytics solutions help accelerate claims processing, increase indemnity savings and reduce fraud risk.

Fraud Analytics

Early detection of fraud can arrest leakages resulting from fraudulent claims and underwriting. WNS’ Fraud Analytics solutions increase the detection rate and accuracy. These solutions leverage text mining to tap both structured and unstructured data, including claim notes, call center notes, medical reports, police reports, e-mails, and web-based content.

Actuarial Analytics

WNS’ Actuarial Services team seamlessly collaborates with clients’ staff actuaries to build solutions around reserving adequacy and accurate pricing. We offer a range of actuarial services including data preparation and database management, financial and actuarial model-building, maintenance, validation and testing, actuarial production support and more.

 
 

Life and Annuity (L&A)

Low interest rates and increased awareness among consumers in a dynamic landscape are compelling Life and Annuity (L&A) insurers to re-think their growth and profitability strategies.

To respond to changing realities, L&A insurers must innovate with agile product development, online distribution models, and improved artificial intelligence and analytics-driven claims management.

Our insurance analytics driven transformation for Life Annuities Insurance Carriers

Insurance Value Chain

Customer Acquisition Analytics

  • Customer Segmentation
  • Customer 360 Degree
  • Buying Behaviour Modeling
  • Distribution Analytics
  • Market Mix Modeling
  • Campaign Design, Management, Analytics & Reporting

Customer Service Analytics

  • Predictive NPS/CSAT
  • Channel Performance Analytics
  • Digital Adoption Analytics
  • Social Media Sentiment Analytics
  • Customer Lifetime Value Modeling
  • Cross-sell / Up-sell Modeling
  • Customer Retention

Pricing & Underwriting

  • Customer Risk Profiling Models
  • Underwriting Triaging
  • Endorsement Triaging
  • Price Elasticity Models
  • Price Deconstruction & Competitor Price Benchmarking
  • Quote Conversion Analytics

Investment Operations

  • Customer Risk Profiling Updates
  • Indices / Investment Options Change Recommendations Basis Customer Life Cycle
  • Scenario Analysis
  • Investment Research
  • Risk Management Modeling
  • Risk & Compliance Reporting

Business Operations

  • Customer Master Data Management
  • Policy, Claims, Investments and Market Data Management
  • Data Quality & Governance
  • Business Intelligence & Performance Reporting
  • Newsletters & Research Publication Services

Actuarial Analytics

  • Reserve Calculation for Defined Benefit and Defined Contribution Products
  • Reserve Calculation for Employee Employer Annuity
  • Change in Reserve Analysis
  • Reserve Estimation

WNS Accelerators

Enterprise Data Management Framework

Enterprise AI Framework

Customer 360 Builder

WNS Self-Serve Reporting Platform

Cloud Migration Toolkit

Reduction in
Quote-to-Conversion
Cycle Time

Digital Customer Experience

WNS Accelerators

Operational Benefits

Speech & Text Analytics to Improve Customer Interaction Experience
Social Media Brand Perception Index
Operational Efficiencies Through Intelligent Automation
Improved Customer VoC
Personalised Campaigns
Moment Marketing Camapaigns
Workforce Optimization
Digital Channel Adoption & Call Deflection
Advisors / Distributors Experience
Reduction in Quote- Conversion Cycle Time

End-to-end Analytics and Decision Support

We bring the analytics experience developed over the last 18+ years to support the client’s analytics journey to ultimately develop an analytics CoE.

Unified Analytics Platform

Insurance Value Chain

Marketing/ Customer Analytics

  • Segmentation / Profiling
  • Cross / Up-sell
  • Retention Analytics
  • Distribution Analytics
  • Acquisition Modelling
  • CSAT / NPS Analytics
  • Campaign Analytics
  • Affinity Modeling
  • CLV Assessment
  • Market Mix Modeling

Sales & Distribution Analytics

  • Channel Performance Analytics
  • Channel Mix Analytics
  • Digital Analytics
  • Social Media Analytics
  • Marketing Campaign Analytics

Pricing Analytics

  • Rate Change Analysis
  • Rate Making Analysis
  • Loss ratio models
  • Price elasticity models
  • Price Optimisation
  • Price deconstruction

Underwriting Analytics

  • Fraud Analytics
  • Lead Scoring
  • Risk Profiling
  • Underwriting Triaging
  • Endorsement Triaging
  • Collection Optimisation
  • Broker performance
  • Risk Premium Modeling

Claims Analytics

  • Fraud Analytics
  • Triaging
  • Subrogation
  • Liability prediction
  • Early settlement
  • Total Loss Prediction
  • Litigation Analytics
  • Negotiation Settlement
  • Single touch claims
  • Large Loss Claims
  • CAT Loss Claims
  • Lifecycle Optimisation

Actuarial Analytics

  • Capital modelling
  • CAT Modelling and Reinsurance
  • Risk premium modelling
  • Reserving
  • Geo coding

Data Accelerators

Data Quality

Master Data Management

Reporting

Transformation driven Benefits

Digital Customer Experience

Indemnity Savings

Operational Benefits

Speech & Text Analytics to Improve Customer Experience
Early Prediction of Potential Claims Costs
Facilitating Investigation Team to Focus on More Complex Frauds
Improved Claims VoC
Hyper Personalised Campaigns
Increase Fraud Detection
Appropriate Assignment of Claims to Handlers Basis Claims Complexity
AI Driven Capabilities to Identify Reasons for Customer Calls
Early Liability determination Enabling Low-Cost Early Settlement
Reduction in Claims Lifecycle

Our Analytics offerings for Lloyd’s and the London Market

WNS’ deep industry knowledge and proven analytics, data and AI capabilities effectively enable businesses operating in the Lloyd’s market to adapt quickly to market conditions.

We provide end-to-end data and analytics support for key client processes.

Data Driven Transformation

  • Creating a Data Hub by integrating internal & external data sources
  • Data Quality Framework for Data Validation, Enrichment, and Integration Proving Standardized Grouping and Hierarchies
  • Data Governance to adhere with Compliance & Regulatory
  • Predefined Key Performance Indicators Library and Standard Reporting
  • Unstructured data management using WNS proprietary cognitive intelligence tool
  • Exception Testing and Anomaly Detection by Integrating Data Quality and Recon Process

WNS' Proprietary Accelerators

  • Unified Analytics Platform - One step platform to deploy analytical models, generating actionable insights prescribes the next best action & simulations across multiple enterprise functions
  • Skense - Enterprise grade cognitive data capture and processing platform to drive intelligent automation
  • Metamorph - Bordereaux management platform/ tool, helps to automate end to end Bordereaux submission process
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Self Serve Reporting & Analysis

  • Reporting from an enriched single source of truth data asset
  • Rationalisation & Consolidation of reports
  • Self-Serve reporting for Diverse LOB's with any BI tool of choice (Power BI / Qlik / Tableau)
  • Advanced data visualisation solutions i.e., Trend Analysis, Earning Pattern, Aged Debt, etc., providing guided deep dives
  • Bordereaux upgrade with reference to Lloyd's Minimum Standards (5.0, 5.1 & 5.2 )
  • Portfolio Management Dashboards
  • Exception / Ad-hoc reporting to support growing business needs

Analytics & Insights

  • Exposure Aggregation
  • CAT Modelling
  • Portfolio Management
  • Triangulations
  • Pricing & Underwriting Analytics
  • Rater Enhancements
  • Pricing Elasticity
  • Loss / Burn ratio Monitoring, Retention Analysis
  • Risk Selection & Prioritisation
  • Broker Profiling

Solutions

Insurance-Analytics-Platform

Insurance Analytics Platform

The Insurance Analytics-in-a-Box’ module of our Unified Analytics Platform is a one-stop-shop platform to deploy various analytics models through our intelligent cloud partners. It has integration capability with third-party data sources and multiple integration points with legacy systems through API connectors

 
WNS-SKENSE

WNS SKENSE

WNS SKENSE is our sophisticated cognitive data extraction and contextualization platform underpinned by AI and ML. It ingests structured / unstructured business data (handler notes, loss description, medical texts) and applies proprietary algorithms to generate contextualized information followed by summarization to create structured and harmonized data sets

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