The Problem:

One of India’s leading BPOs, who are specialists in providing Business Processing Outsourcing Solutions, handles all the insurance related processes of a large general insurance firm. They needed a solution that would help them handle all the general insurance renewals and billings. The renewals of the general insurance policies depend on the loss experiences. Therefore they needed a solution that would help them consolidate the previous years loss experience and prepare summary and stratification reports based on that and determine the renewals accordingly.

The Solution

The solution provided by Quadwave helped the BPO setup a system that would handle all the insurance related processes out sourced to them. A comprehensive work flow solution was developed and implemented using a work flow engine which provided a system to manage all policy renewals based on the loss runs. The system also managed all commission processing related to the checks received from carriers across all policies.

Key Features and Benefits

• All policy renewal calculation based on loss runs
• Generation of loss stratification and loss summary reports
• Complete management of commissions based on carriers

The solution provided ensured that the BPO received a best in class workflow system where the process teams could achieve their goals without any human intervention.