Insurance Leader Taps Canon to Transform Business Processes
Leading insurer forges a new path to operational excellence and continued growth.
Challenge: Greater Visibility Into Current Performance and Spend to Enable Future Growth
A leading insurance company took on a major challenge: significantly advance its current business process outsourcing program. The company had been working with a managed services provider that was delivering a variety of document management services. Over a period of years, the program had grown dramatically but lacked important controls. For example, there was virtually no meaningful visibility and insight into what services were actually being delivered, including costs and number of employees working in the program. It was time for a change. The company decided to team with a new managed services partner; one that could transform the program and deliver innovation enabling the insurance leader to be better prepared for the future. With these goals in mind, the company issued a request for proposal and eventually selected Canon Business Process Services to help turn things around.
Canon's Solution Improves Operational Efficiency and Enables an Agile Workforce
Our comprehensive solution spans a wide range that includes providing claims processing and underwriting support. Claims processing involves managing data entry and related activity for hundreds of processing tasks that include indexing medical bills, scanning and indexing claims and processing explanation of payment (EOP) statements and W9 forms. Other services include mail and print management as well as office services such as reception and conference room coordination. We are also implementing a digital mail system. The need for this is driven by the company moving to a more agile work environment, in which seating and desk space are often unassigned, provided as needed when employees are in the office. The goal is to attract the best talent, encourage collaboration, provide an engaging work environment and improve efficiency. One challenge of an agile workspace is managing mail for employees who may come into the office only a few times during a span of month. Digital mail helps solve that problem.
The insurance company and Canon forged a new path to operational excellence and continued growth. Projected cost savings are expected exceed millions of dollars annually due to workforce centralization and optimization approaches. Improving the efficiency of business process workflows has yielded such results as trimming a claims process from 17 to five days. Our open book pricing system enables the company to understand exactly it is paying for today and into the future. Transparency is now a reality. The insurance company has visibility into the services it is receiving; projects it has approved; costs it is paying; the number of people working at its sites and much more. The insurance leader has stated that its mission includes helping people preserve and protect what is important to them. Keeping this promise means that the company will be there when its customers need it most. Similarly, Canon has demonstrated a commitment to being there when its client needs it most, now and in the days ahead.