This case study illustrates how
WNS leveraged its Artificial Intelligence (AI)-led platform to
enhance operational efficiency and
improve customer experience for
a leading insurer that provides
coverage for vehicles, properties,
general liability, additional
interests and more.
As we know…
The insurance sector is evolving, with customers now holding more sway than before. Companies must re-think how they provide their services to customers, incorporating greater flexibility to accommodate changes in information and plans.
Although Mid-term Adjustments (MTA) in insurance plans have become commonplace, the process generates significant paperwork. The challenge is further exacerbated when the process is manual and involves numerous change requests.
Thus, automation in insurance has become critical. Implementing an automated and scalable workflow system that can extract and contextualize data using intelligent algorithms will help insurers improve efficiency, accuracy and Turnaround Time (TAT).
The challenge for the client was….
It processed over 100,000 MTAs annually, necessitating a colossal volume of administrative work, complex workflow management, coordination and multiple applications. The process involved manual information updating, laborious underwriting procedures and change communication with customers.
While an extended TAT negatively impacted customer experience, manual data extraction led to inefficiencies, errors and steep operational costs.
As an insurance transformation partner...
WNS Analytics (WNS’ data, analytics and AI practice) collaborated with client stakeholders to identify workflow management as the primary challenge. To address this, we proposed an AI / Machine Learning (ML) solution to digitize and expedite the MTA process.
WNS Analytics enables
organizations with decision
intelligence by bringing
together the power of AI and
Human Intelligence (HI).
Leveraging our industry-specific, productized services, we deployed our proprietary data contextualization platform, SKENSE. This platform utilized AI / ML-based tools from our utility library, including computer vision, to automate data extraction and contextualize information from the ACORD 175 and Policy Change Request (PCR) forms.
WNS is an Independent Software Vendor (ISV) partner with 
, leveraging their cutting-edge
cloud services to augment SKENSE.
Key AI components for this solution included:
Automated
ingestion of
email-based data
Intelligent data
classification and
cataloging
Proprietary AI algorithm
to contextualize
information and create
structured and
harmonized data sets.
The results generated
were validated by business
and technical SMEs
Final output integrated
with the client
application
(through application
programming interfaces)
for further downstream
processing to reduce
revenue leakage
Technologies Used:
Amazon API
Gateway
Amazon S3
Amazon Simple Email
Service (Amazon SES)
Amazon
Textract
AWS
Lambda
Amazon Simple Notification
Service (Amazon SNS)
Amazon Simple Queue
Service (Amazon SQS)
Amazon Aurora Serverless,
Application Load Balancer,
Auto Scaling Groups
Amazon
CloudWatch
Embedding SKENSE in the MTA process…
- Increased accuracy in downstream processing, leading to a decrease in revenue leakage
- Customized and predictable workflows aligned with insurance standards
- A scalable system adept at handling more requests and coverages
+
requests (daily) digitized for various insurance coverages
+
fields (on average) extracted per request
percent
data accuracy, resulting in a significant reduction in customer complaints and improved customer experience
percent
improvement in TAT
About WNS Analytics
WNS Analytics, the Data, Analytics and AI practice of WNS, enables business decision intelligence for 250+ global
companies through award-winning, industry-specific productized services that combine Artificial Intelligence and
Human Intelligence (AI+HI). At the core of these productized services are our proprietary AI utilities hub, AI lab,
strategic partnerships and a team of seasoned domain, data, analytics and AI experts. We collaborate with Fortune
100 and Fortune 500 organizations, unlocking transformative decision-making and differentiated outcomes backed
by data-led intelligence. As an end-to-end partner, WNS Analytics supports clients from consulting to
implementation, driving business success through outcome-based engagement models.
To know more, visit https://www.wns.com/capabilities/analytics
To know more, write to us at marketing@wns.com or visit us at www.wns.com