Benefit System Implementation: A $20 billion life insurance and personal property/casualty provider
The Client
Major Fortune 50- Insurance Organization
The Project
Benefits System Implementation
The Challenge
The client has a business division that specializes in providing group insurance to the small business sector. However, the company had not been overly successful in retaining customers in this market and sought to develop a targeted market solution to improve customer retention. The company has built a prototype of an innovative Internet-based self-service administrative system that would provide its clients with a single source for employee benefits management. But the client wanted to involve an external party to manage the technological needs of the project and to assess the project's feasibility from an industry perspective.
The Solution
The client wanted to maintain its cost structure while
growing its business portfolio by increasing customer retention and
lowering administrative costs. Specifically, the client engaged Wability
to develop and implement the self-service benefits system through
utilization of the firm's own methodology. The first phase of the
engagement involved an analysis of the requirements for, and design of,
an Internet-based benefits administration system, while the second phase
of the engagement included a complete design and system implementation.
The Benefits
Wability provided the client with a technical infrastructure that will support future growth, marketing innovation, and new product distribution. The system will:
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Improve customer retention.
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Simplify the enrollment process.
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Minimize inaccurate and inconsistent data.
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Improve competitive advantage and differentiation.
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Improve return on investment through a reduction in administrative costs.
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Improve the ability to gather valuable customer knowledge.
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Improve the ability to target marketing efforts to specified customer segments.