In 2004, the company recognized that, by outsourcing the entire motor claimsrecovery and dispute management operations to a third-party provider, it wouldbe able to tap into a team of trained insurance specialists and leverage proven tools, methodologies and quality assurance processes.This would in turn, allow management and staff to increase its focus on its core business. In the scope for transformation included key processes within the client’s general insurance business debt recoveries collections and disputemanagement of claims.
By re-engineering the delivery teams, VSynergize was able to minimize costs and increase revenue, while improving quality and efficiency.
- Increased daily collections by 35% within the first year resulting in significant financial advantages for business.
- Reduced claims settlement time by almost 40% from 212 days to less than 130 resulting in higher customer satisfaction.
- Increased the speed at which claims were sent to legal counsel by 90% from over 25 days to less than two days immediately after transition.