Targeting three primary areas would have great impact toward improving data quality and access within the organization.
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Claims Data Analysis
Claims data currently living in multiple internal systems plus third-party processor data needed to transform into a single source of truth to enable the organization to perform accurate, efficient claims analysis.
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Policy Lifecycle Analysis
An end-to-end policy view (sales through claim payout) would give a better understanding of policy lifecycles and enable the organization to fully score each policy’s value.
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Agent Hierarchy and Commission Payment
Eliminating separate data sources for the sales teams and accounting departments would in turn eliminate internal conflict on agent hierarchy changes and commissions data, rebuilding trust across the organization.
Our Approach
We began by interviewing members of different departmental teams to fully understand the existing data landscape and concerns. Identifying all sources of information provided insight into the types of data analysis they were performing.
Our recommendations included modifying existing data structures to follow best practices, migrating data to the cloud for improved access across the organization, and automating manual processes through a collection of tools that improve efficiency and increase data quality.
We also devised and proposed a multi-phased project with detailed timelines and budgetary guidelines for each phase.
Impact
The organization achieved measurable impact from this project, improving their workflow, customer service, employee engagement and morale, and profitability.
Claims Data Analysis
- Established a single source of truth for analyzing claims
- Eliminated 520+ hours per year of manual processes
- Provided new insight into claims processing backlog
- Improved significant trust in data
Policy Lifecycle Analysis
- Provided end-to-end visibility of all policies
- Eliminated double or triple counting of policy revenue
- Enhanced forecasting insight
- Notably improved policy risk assessment
- Significantly increased trust in data.
Agent Hierarchy and Commission Payment
- Reflected real-time changes in agent hierarchy
- Increased visibility in the productivity of agents, regions, and divisions
- Increased accuracy of commission payouts
- Increased trust in data across sales, management, operations, and accounting
