Case Study: a major European insurance provider achieves faster, lower-cost claims settlement with Wipro

Using predictive analytics, Wipro is delivering an efcient claims settlement process for a major European insurance provider, facilitating higher customer satisfaction through better and faster settlements

The customer, a major European insurance provider, sought to improve its claims process by achieving greater predictability and control to better manage customer expectations and reduce costs. Wipro was engaged to address this challenge, utilizing its 7200 View Analytics approach which integrates a comprehensive view of claims and customer data.

Wipro implemented a predictive analytics solution that used text analytics to process vast amounts of structured and unstructured data, creating accurate claim profiles for triage. This allowed claims to be quickly assigned to the most suitable specialist handler. The solution delivered significant results for the insurer, including a 33% faster claim resolution, a 20% reduction in cost, and a 28% reduction in customer complaints, dramatically improving operational efficiency and customer satisfaction.