Kuwait-based Gulf Insurance Group (GIG) is a publicly listed company established in 1962, and is comprised mainly of Gulf Insurance and Reinsurance Company (GIRI), a household name for all types of insurance requirements, and is considered the largest insurance company in Kuwait in terms of written and retained premiums for life, medical and motor segments.
GIG prides itself on being a sector leader in its leverage of technology to provide the best services. From advanced software powering its back-offices, to being the first to sell insurance over the internet and smartphones, GIG spared no effort in using technology to its advantage and to the benefit of its customers.
The processing of insurance claims was no exception. GIG made sure to automate those processes early on with a full vision of their potential impact to reduce loss adjustment expenses and increase customer satisfaction and retention.
GIG partnered with NVSSoft® to automate its claim processing and digitize its decades long archives of documents.
Learn more about GIG’s experience.
GIG was rapidly outgrowing its manual processes which were becoming unsustainable and prone to a variety of risks. The Time to Decision in particular was a key factor to control as it had a direct correlation to rising loss adjustment expenses, and so GIG needed an efficient claim processing solution that would help them process claims much faster and give them better visibility, reporting and analytics on the claims life-cycle to help them improve performance, enhance customer experience and mitigate risks.
Because GIG has been in business since the 1960s, its historic and recent paper archives were massive. Not only did they occupy a significant amount of space, but they were prone to risks of deterioration and loss, and there was no easy way for GIG to locate any piece of information. GIG needed those archives to be digitized at a very rapid pace and have their data accessible alongside the newly generated documents.
GIG was using Oracle-based MedNeXt+ as a core insurance system for its medical business. For any claim processing system to be useful and close the operational and reporting loops it had to have a deep real-time integration with that core insurance system.
GIG needed to maintain its status and reputation as the sector leader in its use of technology, and therefore needed a trustworthy partner who has the right expertise and capabilities to deliver.
NVSSoft® Kuwait proposed a solution featuring a custom-built claim processing system that is fully integrated with GIG’s core insurance system, along with ArcMate Enterprise® Document Management System as the repository and backbone, in addition to backfile conversion services using ArcMate Enterprise®’s high-volume scanning capabilities.
The claim processing solution was built rapidly to map GIG’s business processes while ensuring a centralized exception-based processing that would easily segregate the rejected claims, reduce review times and eliminate data entry and unnecessary audits of claims.
The integration with MedNeXt+ core insurance system ensured that both claim processing workflows were tied together closely and that GIG had access to unified customer and claim data, as well as comprehensive reporting and analytics on performance and risk management.
NVSSoft® Kuwait set up an on-site high-volume scanning, indexing, quality control and release production line to complete the backfile conversion for GIG’s archives in no time and in parallel to the implementation of the solution.