A leading financial services company with more than 1,300 claims workers spread across North America that annually process high volumes of claims. More than 45,000 complex long-term claims are open for months or years, which creates a potential customer service nightmare.
The financial services company dedicated itself to make significant improvements in its case management and processing capabilities, customer service, speed, costs, employee engagement and national oversight. The commitment was quite the undertaking, especially considering the operational performance across the enterprise and in satellite locations. Leveraging its existing systems, the financial services company turned to IPD Solutions to optimize case management and process capabilities and deliver operational transformation.
- Create initial direct savings of $2 million annually
- Shorten disability recovery rates
- Integrate key missing functionality
- Enable satellite workers while enhancing employee satisfaction
- Measurably increase competitive differentiation
The financial services company sought an IBM/FileNet partner with expertise, domain knowledge and world-class references to achieve its lofty objectives. IPD was selected to upgrade, integrate and implement newer IBM/ FileNet technologies while seamlessly including a tailored software solution to further enhance capabilities and transform operations.
Additionally, through the use of the IBM/IPD case management claims solution, the client developed predictive modeling for disability claims. A scoring method assigns the probability of recovery, then assigns an appropriate plan of action for the claim and allocates the proper resources. Implementing predictive modeling provided a reliable method to gain insight to improve recovery rates.
The financial services staff no longer navigates a variety of systems. After selecting IPD Solutions as its partner, relevant content necessary to efficiently complete work is aggregated and work processes are streamlined. The results realized are many, which includes the ability to acquire and retain the best talent from around the world through a highly responsive employee experience and opportunity to work from satellite locations.