Financial Services
Digital enablement & process transformation for a leading insurance broker
16 May 2023
Context
A
digital insurance broker wanted to understand how to improve their processes
across the sales journey, identify new product opportunities to diversify their
product portfolio, enhance claims operations /CX & build the required tech
capabilities to enable the outlined activities
Our
approach
- Mapped the current processes across the policy lifecycle
- Identified key pain points across each step in the sales
process & claims operations through data analysis, process mapping &
detailed stakeholder interviews
- Analysed the current tech stack to identify opportunities
for improvement across process, people & technology
- Studied the current product portfolio and distribution
channels and identified new product opportunities to diversify portfolio along
with suggested distribution channels
- Developed solutions for
the key pain points identified in the sales process, claims operations
& tech stack, prioritised basis management discussions & designed
implementation programs / initiatives
- Created a comprehensive map of potential new product
opportunities & shortlisted products for initial focus
- Evaluated distribution models for the new
product opportunities identified, designed pilots for the selected distribution
model
Praxis
value delivered
- Key strategic initiatives defined & implemented to meet
the 5-year goals
- 10+ initiatives identified to boost sales effectiveness,
agent productivity & efficiency across each step in the sales process
- 5+ initiatives identified to improve website performance,
enhance data security & reimagine the IT team structure
- 5+ initiatives identified & implemented to improve
claims operations & enhance end customer experience
- 3+ pilots identified to build distribution
channels for new products & diversify the product portfolio mix
Do
you want to turbocharge your business using digital technologies and processes?
Write to us below.