Infosys - Unified Claim Processing Solution

Overview

Together, Appian and Guidewire empower insurers to create modern custom applications and workflows with an agile enterprise layer capable of quickly creating cloud-based experiences to meet an ever-changing market and business landscape. Infosys claims transformation solution build on Appian platform integrated with Guidewire core modules can manage claims intake process across different LOBs and channels.

1. Limited omnichannel experience - Disjointed experience offered by the insurance companies brings inconvenience to the customer.
2. Siloed information - Due to concentrated nature of data and functionalities, it often tends to bring challenges to offer flexibilities.
3. Lack of customer notifications - Customer acquisition in insurance costs nine times more than customer retention, so raising the bar in service and keeping policyholders happy is no longer a nice to have, but a need to have. Lack of on-time communication to customer leaves them in uncertainty which is not appreciated.
4. ESG uncertainty - ESG regulations are growing more intricate, and Insurance provider's fragmented compliance efforts & perspectives are proving inadequate. Companies’ siloed ESG efforts are limited in scope & have not developed the governance structures needed to support risk management across ESG areas and business units. The result is weak corporate ESG governance. They need a unified comprehensive approach to enable efficient risk management and reporting.
5. Regulations – For the Insurance industry, Compliance to various regulatory standard has moved from a reactive “tick-in-the box” control mechanism to a strategic function at the core of key business processes.
6. Fraud detection - The insurance business is seeing unprecedented levels of fraud resulting a loss of billions of dollars each year. Because of the enormous volume and complexity of fraudulent claims, insurers find it difficult to detect and prevent fraud using traditional manual approaches.

Key Features & Functionality

Appian and Guidewire empower insurers to create modern custom applications and workflows with an agile enterprise layer capable of quickly creating cloud-based experiences to meet an ever-changing market and business landscape.

Accelerate innovation and stay agile with Guidewire and Appian:

1. Build data-driven apps and workflows faster using low-code data to reimagine your underwriting, claims and billing experiences by leveraging Appian’s prebuilt, no-code connector to extend the Guidewire platform.
2. Improve your customer and user experience by delivering a custom front-end interface that combines Appian UI and Guidewire’s embedded Jutro Digital Platform micro-frontends.
3. Unify your data. Gain full visibility by connecting data from Guidewire’s modern core insurance solution, other disparate systems (CRM, AMC, legacy, etc.) and 3rd party data sources to create a single, 360-degree view.

Key Functionality and Features

1. Omnichannel support. Redefined experience for customer and operational users
2. Automation of Key processes
3. Optimized workflow
4. Notification mechanism for experiential customer experience
5. Rigorous process and data monitoring
6. Single view operations
7. Multi-format document management.

Benefits & Business Impact

Benefits of solution and resulting business impact are as follows –

1. Improved Customer Experience increasing customer loyalty in-turn customer retention.
2. Added capability to operational users empowers them to provide seamless customer experience.
3. Helps them in tracking the identified metric that enables them to be ESG compliant and in-turn a responsible corporate citizen.
4. Improved Fraud detection resulting in reduced revenue loss.
5. Better Compliance with Global accounting standard