Complaints with respect to customer experience play a huge role in continuous improvement of sales and operational policies, and product design and its features. Continuous improvement becomes much more critical when it becomes a regulatory requirement for the insurance industry. To ensure regular improvements in the process of servicing end user complaints, a leading insurance carrier turned to us. We fulfilled all their regulatory requirements and developed a framework that helped the client carry out root-cause analysis of spiraling complaints. We also helped them generate insights that ensured that the complaints were avoided in future.
A leading insurance carrier group, the client deals in property & casualty, health, and specialty and reinsurance businesses. The group is one of the top three Japanese P&C insurers and operates in the US, UK, Ireland, Netherlands, Switzerland, Bermuda, and Singapore.
In response to the Financial Conduct Authority’s (FCA) regulatory requirements, the client wished to build a solution that would enable them to adhere to customer experience-related regulatory requirements. The main objective behind the solution was to:
Recognizing NIIT Technologies’ deep domain expertise and extensive technical experience in providing solutions to complex problems, the insurance carrier chose us as its partner in this ‘must deliver’ program.
NIIT Technologies was part of the team that guided the client in developing a framework that enabled their management to take informed decisions related to customers. We were responsible for the design and solution architecture of the framework that aggregated data from various sources, analyzed accumulated data, and presented the information in a visual format. High-level architecture and strategy definitions were provided and maintained by our experienced consultants. The framework also enabled the client to treat their customers fairly throughout the insurance product value chain.
The solution was designed to summarize unstructured data on the following potential aspects/features:
We helped the client develop a framework to meet their regulatory requirements for customer complaints.
The client has successfully met compliance needs as per the UK FCA requirements, and is confident that with our support it will continue to be able to strengthen their capabilities and thrive in an increasingly complex regulatory environment