TCS improves retention rate and customer experience for a UK-based health insurer

TCS implemented a CRM solution for a UK-based health insurer, improving their customer experience and retention rates. by. The solution increased the total retained annual premium income by over GBP 400,000 and the customer contact rate by 7%.

The Customer
TCS’ client is a UK-based provider of health insurance services. Our client’s investment in product innovation amalgamated with financial expertise enables them to offer competitively priced, comprehensive coverage health insurance services.

Business Scenario
TCS’ client had multiple, disparate primary administration systems inherited through mergers and acquisitions. The multiplicity of data sources and lack of standardization adversely impacted the organization’s productivity and operational efficiency. The challenges in accessing data and consequent longer information access times led to reduced call center efficiency and customer satisfaction.

In order to achieve their objectives, the client needed a system that would automate the allocation of work to the team, as well as analyze performance data. In addition, there was a pressing need to provide the agents and management with an accurate and comprehensive view of customer data so that retention campaigns could be better targeted and more effective.

The company teamed with TCS to implement the CRM system because of our deep experience and extensive competencies in CRM.

TCS’ Solution
TCS assembled a multidisciplinary team of professionals to collaborate with the insurer on devising a implementation strategy. We conducted a due diligence exercise as part of the discovery phase to capture the features and functionalities required by the business and identify the gaps in the existing system. 

The engagement was the first implementation for the insurer. We executed this end-to-end project along with a wider range of functionalities and data migration effort, within a short period of five months, on time and within budget. Our Center of Excellence guided and supported the delivery team throughout the engagement with their knowledge of standards and best practices for implementations. 

TCS’ solution helped to transform the retention department of the insurance company into a standardized, process-oriented organization with automated processes and agile service capabilities. At the operational level, measurable and quantifiable benefits were realized within a month of project execution.

  • Collection of the key customer information in a single database
  • Ability to retrieve relevant customer information within seconds   
  • Customer contact rate increased by 7%
  • Total retained annual premium income increased by over GBP 400000
  • Alerts and automation of workload allocation improved employee productivity

The successful implementation of the CRM solution, has led to the company exploring new avenues for deploying efficient processes for its other businesses.

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