Case Study

Insurance services provider builds digital backbone with Aspire, grows stronger

This case study centers around a US-based risk management company venturing into the B2C auto insurance market. They sought to build a unified auto claims portal but encountered challenges with fraud and duplicate claims, causing significant losses. Our team addressed these issues, enabling the client to establish a digital presence and combat fraud effectively.

Client Overview

Our client is a global risk management products and services company in the US with inroads in global housing insurance and global automotive insurance services. Over the past few years, the client has forayed into the credit card warranty service, upping their ante in the global financial services business, and introducing auto warranty services.

Navigational Barriers in Auto Insurance Expansion

Our client, primarily immersed in B2B auto insurance, embarked on a foray into the B2C sector. The objectives included establishing a robust digital presence through the development of a comprehensive auto claims portal for end users to explore extended warranties and related services. Concurrently, the client grappled with substantial losses attributed to fraud and duplicate claims, prompting a strategic reassessment.

Transformative Solutions

Aspire has been helping its client for more than 5 years in harnessing technology to improve customer experiences and optimize operations, building solid partnerships that continue well beyond the finish line.

Areas in Focus

Software Engineering

Software Testing Data & Analytics

Integrations

Cloud

Infra & Support Agile Project Management

Key highlights of the collaboration:

Immediate productivity from Day 1 with expert resources
Innovative approach for everyday improvement
High performing team, near zero performance issues
Fast resource fulfillment, 10% bandwidth reserved for critical projects
Comprehensive knowledge academy for continuous training and certification
Large-scale digital transformation projects with full ownership
Global delivery expertise – onsite, nearshore, and offshore technical product ownership

Aspire has successfully executed over 50 projects, with notable achievements in the following projects:

Streamlining Insurance Operations

Implemented a user-friendly Quote & Buy and Claims Portal tailored for dealers, enabling seamless policy purchases and real-time claims updates. The claims approval process was optimized for efficiency, with integrated real-time claim notifications.

Revolutionizing Claims Integration

Digitalized the client-dealer system, transitioning to the cloud with a microservices-based architecture. Introduced a queuing system to manage diverse dealer requests, streamlining the claims process.

Enhanced Claims Management

Transformed the overall claims workflow by configuring processes, automating systemic steps through a rule engine, and integrating machine learning tools for efficient claim adjudication. Automated letter templates were crafted for timely customer updates.

End-to-End Testing Excellence

Executed comprehensive end-to-end testing services employing a blend of manual and automation testing experts. Test scenarios aligned with business processes, ensuring maximum optimization. Utilized API integration, performance testing, and EFT testing to minimize defect slippage, elevate product quality, and ensure on-time deployment.

Outcomes

The outcomes of this transformation journey were nothing short of remarkable:

Better sales and increase in revenue.
Quicker claims processing; better screening of claim requests for fraud, payment duplications; real-time notification of dealers, customers about claims status.
Improved operational efficiency.
Portals for dealers, end-users with better UI, scalability.

Knowledge repository with business workflow and database for easy induction of new users and stakeholders.
Better automation of repetitive testing modules; timely go-live of products due to thorough, systemic testing; superior overall quality of products due to comprehensive testing.
Extremely satisfied customers due to the speed, stability, and scalability of products.

In conclusion, our client entered the B2C auto insurance market with a unified auto claims portal, benefiting from our expertise in Salesforce, Azure, and UI optimization. We tackled fraud, reduced financial losses, and built customer trust. This case study highlights the power of digital solutions for business expansion, customer satisfaction, and fraud prevention.