Automation of risk advisory processes across 35 countries for a leading insurance company

Financial risk engineering solution implemented on Dynamics CRM helped the client reduce claims frequency and lower premiums for their customers

Client Background

Client: Leading multi-line insurer.
Industry: Insurance
Products or Services: Property and casualty and life insurance products and services in more than 210 countries and territories.
Areas of operations: Europe
Employees: 54,000

Challenge

The client was executing risk engineering processes manually or using spreadsheets making it difficult for them to consolidate information on risk assessment and advice, and track all the approvals. They needed a one-stop solution, an integrated source comprising all the information to enable field engineers to complete their assessments efficiently and on time.

Solution

The automated risk engineering business process, implemented by Wipro, enabled risk analysis and risk improvement advise for the field engineers. The solution is a mobile enabled offering that provides end-to-end processes for organizations struggling to identify and assess risks. It automates and improves scheduling of resources for site visits and offers post assessments billing with functionalities seamlessly integrated with Dynamics 365 and its end-to-end CRM features. This also involved integration with many internal systems to provide a one-stop solution for all the required information. The solution was extended to underwriters for lead generation and claims for additional return.

As part of the engagement, Wipro is also upgrading the client’s systems from on-premise to Dynamics 365 Online in addition to automation of business processes.

Business Impact:

The client needed a business process reengineering and mobile solution which would enable their underwriters and field resources to work efficiently and provide updates on assessment in real-time.

This solution enabled the client with a unified underwriting process and helped in achieving benefits such as:

Reduced claims frequency and liability by 15-20%
Reduction in premiums for customers based on appropriate risk analysis
Rapid development reduced TCO by $1.5M USD
Enabled employees in faster and more efficient decision-making
Real-time information updates from ﬁeld service team

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Automation of risk advisory processes across 35 countries for a leading insurance company

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