Comprehensive Digital Transformation for a Health Insurance Provider in India
Overview
Discover how i-Offshore helped a leading Singapore health insurer modernize operations, reducing claims processing times and operational costs.
Client Background:
Industry: Health Insurance
Business: A major health insurer in Singapore with over 500,000 policyholders, struggling with outdated systems.
Challenges:
- Slow claims processing with a 15-day average.
- High operational costs due to manual processes.
- Difficulty adapting to evolving market trends.
Solution
- IT Infrastructure Modernization: Upgraded legacy systems to a cloud-based platform with scalable capabilities, improving system performance and reliability.
- Claims Processing Automation: Implemented an automated claims processing system, including AI-driven claim adjudication and fraud detection.
- Change Management and Training: Conducted extensive training sessions and change management workshops to ensure smooth adoption of new technologies.
Outcome
Claims Processing Time
Operational Cost Savings
Scalability and Market Adaptability
Claims Processing Time
Reduced average claims processing time from 15 days to 5 days, representing a 67% improvement.
Operational Cost Savings
Achieved a 25% reduction in operational costs due to process automation and system efficiencies.
Scalability and Market Adaptability
Enabled the company to quickly adapt to market changes, increasing their competitive edge and ability to offer new products.