Application of bpms in insurance: business development

Business
Business Process Management for Insurance: Business Development
By using the business process management system, insurers can make information technology systems that support insurance transactions or processes efficient, Make them responsive and flexible.

 

Challenge
Insurers should definitely focus on the effects of rising costs and better risk management. At the same time, the insurer should improve the performance of agencies and customer satisfaction in order to increase the market share.

 

Beneficiaries
Underwriters, Technical Assistants, Support Agents, Reception Team, Claims Control, Customer Service.

 

BPMS based solution
Business process management in the insurance industry is very important to achieve performance improvement, increase efficiency, reduce costs and increase customer satisfaction. The stages of business process management in the insurance industry begin with the recognition of the processes, first all the primary and secondary processes in the insurance company must be identified. These processes may include selling insurance, registering claims, managing contracts, managing customer information, etc. Then, in the process description stage, for each of the processes, the steps, steps, inputs, outputs, required resources and responsibilities should be described in detail. This allows processes to be improved and problems to be identified. Then, performance metrics are used for each process to evaluate current performance. For example, the response time to the customer, the number of claims resolved in time, the percentage of conversion of sales opportunities to contracts, etc., by analyzing the data collected in the previous step, you should look for opportunities to improve the processes. Techniques such as Lean and Six Sigma can be used to reduce delays, increase service quality, and improve performance. According to the identified opportunities, new and improved processes are designed. At this stage, attention should be paid to the connection of departments and the allocation of optimal resources. Now, new processes should be implemented and implemented in the organization. This phase includes training employees, creating the required software systems, and rearranging tasks and responsibilities. The improved processes are then monitored to ensure that they are working properly, using performance criteria for periodic evaluation. Given that the insurance industry is constantly changing, processes must be constantly updated and optimized, taking into account customer feedback and changes in the business environment. Finally, business process management in the insurance industry must become a continuous process that brings sustainable improvements in performance, service quality, and customer satisfaction levels.

 

Advantages
Implementing a business development process based on business process management has saved the company from the cost of hiring two new full-time employees. By converting the paper form to a fully electronic form, a significant increase in the efficiency of the process has been observed. Business Process Management System integrates data from subsidiaries to promote joint reporting and processes which each of those subsidiaries must follow to control the company policy. In the highly competitive insurance market, being different through innovative technologies such as business process management is an important and effective way to maintain and increase market share and profitability. Insurers can achieve many qualitative and quantitative benefits throughout the value chain by implementing business process management. A controlled transition approach helps insurers lower risks and overcome the challenges of implementing business process management into core processes. Therefore, insurers can obtain benefits from the successful implementation of business process management.