Lantrasoft helped its Insurance Customer improve the turnaround time on the Business Impact Requests by 2.5x times earlier
Leading Online Insurance provider in the U.S. in a highly competitive market with huge customer base and very high volume of business transactions on a daily basis.
- Improve turnaround time on the Data Quality – Production Impact Requests.
- Address ageing requests to provide timely services to several thousand policy holders and end-customers.
- Evolving business requirements on the Impact Request
- Availability of the Business Users for solution review and approval
- Cross-functional coordination
- Lack of domain knowledge to a certain extent
Our Approach and Best Practices to overcome the challenges
- Understand and document the DB Objects and Schema in the backend
- Arrive at a mapped view of the Schema to business rules/code logic
- Apply business rule/logic from the documentation for each Impact Request
- Onsite training followed by internal knowledge sharing sessions
- 8x5 Support -> 24x6 Support
- For enhanced interaction and coordination between the requesting and the servicing teams.
Production Impact Requests – Some sample scenarios
- Policy retention discounts
- Campaign benefits not applied
- Sales Agent Application – Data sync issues
- Batch Job failures
- Less than 5 days closure TAT improved from 51% to ~ 90%
- Ageing requests beyond 5 days reduced from 49% to ~ 10%
- Dependencies for the 10% are –
- Availability of the Business Team
- Complexity of the Request