business Process Management

Business Process Management

As a company, the optimization of internal processes (Workflow), information sharing (GED), risk management and regulatory compliance, while always keeping in mind mind the primary objective, which is to capture and retain new customers, is a guarantee of success

Your challenges

Sometimes consuming a lot of paper, companies are faced with several problems: customer response times, increased paper storage and work overload, complexity of the customer satisfaction management process , etc. So many challenges to be met daily. The large volume of documents leads managers to spend several hours a day looking for the information needed to respond to customer requests. In this context, Business Process Management has become a real lever to gain competitiveness to differentiate itself from competitors and retain customers.

By way of definition, Business Process Management (BPM), also known as Business Process Management, consists of placing a set of IT methods and tools at the service of business processes to optimize and automate them as much as possible.

In general, the large volume of company documents leads managers to spend several hours a day looking for the information needed to respond to customer requests:

Management of quotes, contracts and customer files
Follow-up of complaints or requests for information
Risk control and response to regulatory requirements
Automation of internal processes
Improving the customer relationship

But business processes have always existed, BPM consists in making them explicit, executable and adaptable.(source: CSC Research

Objectives

The main objective of WAT&CO is to offer a BPM solution to enable better employee productivity which improves efficiency and effectiveness in operations within the company. The result will then be better risk management and an effective response to regulatory constraints.

Top Gains

Traceability: the implementation of monitoring indicators and the history of operations (who? when? why? ...) will allow management to better monitor the progress of files and above all to be able to communicate on any anomaly or delay in execution.
Profitability: BPM will make it possible to better use existing IT while meeting new needs. It will thus be possible to quickly adapt the processes managed by the information system to any organizational change or the launch of a new product.
Agility:automating tasks and handling exceptions through human intervention will speed up process execution and increase processing capacity
Visibility:the description of the processes will allow everyone within the company to better understand the expectations of the customers and to contribute to them more effectively.

CASE EXAMPLE: CLAIMS MANAGEMENT

1.The Objective of the Process

Improve processing time and inform the customer on the fly.

The management of a claim is, by far, the ideal opportunity for an insurer to prove its efficiency and the quality of its services. The challenge for insurance companies then lies in processing hundreds of files in parallel while communicating with customers on the state of their situation and proposing an optimal compensation offer.

2.Reality of the existing

IT solutions or the many paper documents are real black spots for the teams in charge of the files. The risk being to have to deal with dissatisfied customers, or worse, contract terminations.
Teams juggle several specific applications. Reports arrive through several channels: telephone, email, website, branch… with an initial entry of information related to the file, either in the CRM or in the dedicated claims management tool.
The current information system does not allow the file to be enriched as the process progresses. Therefore, the data must be entered once, then a second time with the new information provided by the client or the expert. The adviser must not forget to activate her automatic reminders, in which case the response times will be extended. In addition, in certain specific cases, it must send the file by email to an external service (approved agencies, car expert, etc.) to guide the compensation decision. Once again, you have to give the client's information and redo an inventory of the situation.
Many exchanges by email or telephone with repeated information and a high risk of losing data. Add to that a possible oversight, because error is human, the file takes time. delay and the customer does not have the last elements of his file.

3.BPM solution management

As a reminder, the 3 important criteria for the customer when declaring a claim:

Clarity of information
Deadline
Compensation period

With BPM, once the right workflow has been modeled, it comes to life and becomes your new claims management platform.

A start form will allow the management of the claim declaration (by telephone, online, by email or by mail), which triggers the opening of the file.
According to the workflow model, the person in charge will be questioned and thus the verification of the insured's coverage will be made: is the damage covered and up to what amount?
Thereafter, an email (automatic if the Process is automated) will be sent to the insured with a request for supporting documents (traffic accident report, reports medical in the event of bodily injury, bills, etc.).
It is also possible to involve an expert from outside the organization with external forms displaying the client's data in parallel.
It is possible to integrate automatic alerts according to deadlines defined upstream. This makes it possible to respect the intervention times or to inform the insured if the file is late.
Depending on the case and the information provided, the organizations involved will be notified and will have at their disposal all the parts necessary for repair or repatriation, for example.
Notification of the settlement of the claim is automatically sent to the insured with a complete report generated with all the data that circulated throughout the process.

4.Results

With manual management centered on the exchange of information, agents are perceived as performers and no longer as advisers in their own right. However, handling claims is a long process that requires strong human qualities and genuine empathy for the client. Advisors need to be able to focus on the “best option” for their victims.

Mastering digital tools, and more specifically BPM solutions, makes it possible to speed up the time it takes to handle claims and to facilitate relations with customers. A key point in the claims handling process when we know that one of the main causes of cancellation is the lack of contact between the customer and the insurer.

Our offer

WAT&CO offers companies in general, and insurance companies in particular, a 360° Business Process Management offer as well as RPA (Robotic Process Automation). When BPM will optimize the execution of business processes through their formalization and dematerialization, RPA will perform standardized repetitive tasks (such as copying and pasting the same data between different applications).

Indeed, with increasingly fierce competition and ever more present regulatory constraints, insurance and reinsurance companies are facing major challenges such as strengthening their position in a market of more more globalized, compliance with national and international regulations, operational excellence, …

Improving the customer experience in its underwriting and compensation process is at the heart of our approach. To streamline and automate the subscription process, the transition to zero paper is a significant project, with the implementation of dematerialized contract subscription, with physical signature in accordance with the CIMA code; scan of documents by the client to obtain the completeness of his file the first time, deposit of documents in dedicated digital spaces...

Production

Automation of the processes of an entity (security and guarding company), of a Cameroonian group.