Success Stories
Financial Services: CSC's KDX Helps Global Financial Services Company Improve Productivity
Client:
A leading global financial services companyChallenge:
- Improve the efficiency of claims adjusters and claims handlers across a decentralized organization, operating from four regional offices
Solution:
- Implement CSC’s KDX to provide advanced route planning to match inspection types with the nearest available qualified resources
Results:
- Improved reporting productivity 25% resulting in faster settlements, reduced overall claims management costs including adjuster travel costs
The client needed to get greater efficiency and productivity savings from its motor claims adjusters and claims handlers. The company’s 120 claims adjusters were decentralized, operating out of four regional offices with no central management strategy for inspection visits and limited flexibility of resources. There was no way to measure the productivity of the team as team members managed their own workflow. Inefficiencies were compounded by multiple language requirements. The company needed to develop a cost-effective repair strategy.
Process Redesign
The company decided in 2001 to remodel its damage assessment and repair process by creating an electronic workflow for claims. The company chose CSC’s KDX to serve as its central system. Through advanced route planning and by matching inspection types with the nearest available qualified resources, KDX helped the company make the best use of claims adjusters’ time. They can now focus on specific job requirements, and their performance can be measured daily. Because it has multi-language capabilities, KDX also smoothes out time delays in the assessment process.
25% More Reports Daily
The company has seen a significant rise in claims adjuster productivity. Adjusters are now completing on average 25% more reports daily. Since 2002 the average payment per claim has fallen dramatically.
Overall claims management costs also have been reduced. All reporting and data transfer is done electronically, which eliminated the need to re-key data and re-scan documents and postal deliveries by back-office staff. Claims adjuster travel costs are down. Faster claims settlements are expected to improve customer satisfaction and help retain business.
Future Opportunities
The availability of more accurate management data puts the company in a good position to further improve productivity and efficiency in the future. Through the data the company is collecting in KDX, the company will be able to recommend quality and cost-effective repair strategies to its customers, which could give it a competitive edge in the market.