Future Generali India Insurance Company Limited - Innovation in Financial Industries

Name of Organization / Company: Future Generali India Insurance Company Limited, Pune, Maharashtra, India
Category: Award for Excellence in Innovation in Financial Industries -Up to 100 Employees

Entry Title: Innovation in surpassing customer’s expectations

Essay:

Believing in the fact that brand reputation cannot be outsourced, Future Generali India Insurance Co. Ltd. has established a 100% In-house “Health Claims Management” unit.

Excellence in Customer Service

In the area of “Customer Service” we have innovated by re-engineering our entire claims process to identify and reduce the non-value-added activities, eliminate rework and mitigate errors. This initiative has given us exceptional results and for the financial year 2017-18, we have been awarded for the “Best Health Claims Settlement Ratio” (97%) in the Indian Non-life Insurance industry. We could also maintain the Best in Class Cashless Response TAT i.e. 98% of cashless approvals within 2 hours. We always believe in placing our customers at the heart of everything we do. Our insights-program gathers Transaction-NPS (T-NPS) feedback across six touch-points throughout the policy life cycle (including Health Claims). For every Health Claim, an online survey is sent to the customers asking for their feedback about our services, their experience with us and our network providers. Rating is done on a scale of 0-10 where 0-6 are “Detractors – Unhappy”, 7-8 are “Passive – Neither Happy nor Unhappy” and 9-10 are “Promoters – Happy” Customers. Special attention is given to detractors to understand what they don’t like about us, hence giving us an opportunity to improve. Every detractor is called back within 48 hours by our community of close-loopers. This not only drives service recovery but also provides invaluable learning. NPS score for Health Claims touch point is highest in the industry i.e. 72+ points.

Creating Value for Employees (Passion for People)

We strongly believe that human capital is a significant source of competitive advantage for us. In the area of “Employee Development” we have started a comprehensive Employee development program where the employees undergo various training programs to enhance their potential and acquire new knowledge and skills.

The training needs are identified through a Skills Matrix where the required skills are mapped against each role and the employees are rated on these skills on periodic basis through various evaluation programs. Areas where employees lack or need more emphasis are identified as training needs. Employees who perform exceptionally well in evaluation or have high command over a skill are considered as a trainer in that area. This initiative has shown great results employees are motivated and look forward to enhance their skills.

Technology-led Service Delivery and Transformation Mindset

Talking about “Information Technology” we have embarked on a journey where the importance of technology as a source of innovation has been identified as a critical success factor for increased market competitiveness. We have developed a Mobile application which is aimed towards enhancing customer’s experience. The app offers instant -on the go access to Policy related info, e-card download, Claim intimation, Claim tracking and Provider Network etc. This app has helped customers by reducing the dependency on our branch offices or Toll-free Customer Care to get the updated information. Another unique IT offering is a user-friendly online Pre-Authorization Module which is extremely useful in case of planned hospitalization. The online module offers convenient access to track the status of cashless facility / pre-authorization at customer’s desktop, making it less cumbersome with reduced Turn Around Time.

Online and easy exchange of document/information between Future Generali and Network Provider.

Administrative dashboard to monitor the status of active cashless transactions with various providers, real time chat with providers and upload of documents like Guarantee Letter, Enhancement Letters, Denial Letter and Query Letter etc. reducing the dependency on traditional ways of document exchange like Fax & e-mail.

We have been able to create a unique integration of digital wisdom, human capital and customer centricity in the health insurance space which has been very well appreciated by our customers.

LINKS:

URL 1: https://general.futuregenerali.in/

URL 2: https://youtu.be/g3cXd16t9EA