We have years of experience working on different claims operating models. One size does not fit all - but best practice is attainable for any insurer.
Our claims transformation process, FinClaim, gives you a cost effective, integrated view of claims operations.
Gain practical advice to drive down claims costs and improve your overall customer experience.
Case study / Finclaim
The client's challenge
A personal lines insurer wished to revisit its product strategy for the purpose of acquiring new members and increasing product penetration per customer. The scope was broad - to scan the personal and commercial insurance market and comment on future trends.
What Finity did
Extensive market research on 60+ new insurance products and product extensions. We developed a scorecard to assess and rank each product, looking at: profitability, future growth, market competitiveness, brand alignment, staff expertise, system capability requirements, capital requirements and risks associated with the new product. We delivered a paper on the future of insurance, sharing views on digital disruption, the sharing economy and customer life-time value.
The insurer developed a powerful strategy to release an innovative product within six months of our project and incorporated our research in developing their 5 year plan.