Claims Efficiency & Loss Prevention Solutions
Claims process remains a critical moment of truth in the Insurance value chain. Insurance companies need to strengthen their claims value proposition and impact the front-end customer experience. At the same time, there is a growing pressure to build highly efficient and effective claims operations, with focus on optimizing loss payouts, enabling fraud management and controlling operational expenses. Fortunately, modern claims platforms and digital technologies offer an excellent opportunity to address these issues.
LTIMindtree has been helping leading insurance companies traverse through their claims transformation journey, using modern solutions. This involves conducting due diligence of existing claims operation, designing target operating model, and its realization through a rich set of business, technology & product capabilities. Our practice, which is supported by a 600 associate-strong Claims community, 25+ partners, and a rich set of domain & digital assets, has emerged as a highly capable provider of claims transformation solutions. We have deep experience and a fully equipped Center of Excellence (CoE) for market-leading claims products such as Guidewire ClaimCenterTM and Insurity ClaimDecisionsTM.
Our clients have typically benefitted from Claims Transformation Services, with the following business outcomes:
- Annual reduction of 10-12% in Claims Leakage
- Annual reduction of 2 – 2.5 % in Loss Payouts
- 15% improvement in Net Promoter Score
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Claims Experience
Loss Minimization
Expense Control
CAT Response Management
