Genpat Executive Summary

In a Genpact sponsored survey claims executives were asked questions on what their top priorities were for the year 2015 and the tools they are using to actually drag those priorities forward, the response we got were

Optimizing processes
Focusing on efficiencies
Getting more out of their operation
Improving customer loyalty and customer experience
Today when we actually enable these and look at technology and platform changes and realize whether they do an analytics project, a claims transformation project or a re-engineering project within their operations Genpact is positioned to help them achieve all of this. As a process detailed company with end to end understanding of claims processes and industry expertise we were able to actually

The second kind of mistake that we see they won't do an out of the box implementation rather they would configure the new system to look much like their old system and by doing this, companies are actually using sub-optimal processes, by building their technology to sub-optimal processes which then leads to sub-optimal results. One of the things we specialize at Genpact is to do a detailed assessment of your operation at a processor level to understand what they are doing, the processes they are doing the outcomes they are generating. For instance, if you are looking to increase customer satisfaction we can come in and look at all of the processes and tie those processes and understand what they are actually driving out and you may be surprised to find out that they are actually driving losses or they may be driving reduction of LAE which is opposed to actually delivering a better customer experience. At Genpact, we can lay out the right end to end process for you to put on the new technology and when the new technology is implemented, it is implemented on very good standard processes that are going to drive your business

We at Genpact have a very strong analytics practice in the claims organization. We embed analytics into our own operations to drive better outcomes for our customers. For instance, at first notice of loss, our analytics embedded solution can help us make the corrections right at the FNA wall. Our Segmentation models will make sure that those that need fast track for straight through process can be handled that way it can also segment claims based on complexity and give those the right claim handle based on skills. We can also do subrogation models which will help us identify subrogation and the propensity to cover all those claims as well as fraud analytics. We can do a lot of different things to bring value to our customers with help of analytics embed processes that we run or by doing the analytics projects which will help the customers realize the outcomes they were looking