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Chordiant Policyholder Servicing enables carriers to deliver consistent, high quality, collaborative servicing across multiple contact channels and back office service centers. The straight through processing solution links front to back office service centers so that actions in the front office such as change of address, automatically trigger back office processes such as re-rating of all relevant policies.
Core legacy systems (policy administration, claims, billing) and third party systems (Credit Bureau, DMV, CLUE, MIB) are directly integrated into the intelligent business process framework to cost-effectively extend the value of existing investments and shelter users from underlying system complexity. The externalized processes and rules also improve business agility including the ability to rapidly change best practices, introduce new products and implement regulatory mandates.
By automating interactions, manual tasks, work routing, decisions and offers, Chordiant Policyholder Servicing significantly reduces average handling times, training costs and errors while improving service quality and revenue opportunities.
Chordiant Policyholder Servicing automates and streamlines over 150 Property & Casualty and Life insurance policyholder servicing processes. Chordiant's robust library of easily adapted insurance process models enables carriers to automate best practices and achieve the fit of home grown systems with lower risk, lower costs and in less time. Some of the configurable policyholder servicing process models include:
Update Policyholder Details
Update Driver
Update Vehicle
Change Beneficiary
Disbursement Against Life Policy
Maintain Coverage
Maintain Dividend
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Death Event Claim
Reinvestment of Proceeds
First Notice of Loss
Reinstate Policy
Make Payment
Change Payment Method
New Business Coverage Waiver/Reduction
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Chordiant Policyholder Servicing solution enables carriers to:
Reduce Average Handling Times: Through direct integration of siloed back office systems into a unified, process-driven desktop, service specialists no longer have to toggle across multiple systems and complex legacy screens to complete requests. Instead, they are empowered with a unified policyholder profile including and transactional and interaction history across lines of business and channels. Screen flow, tasks and scripts dynamically adapt based on the user skill, best practices and policyholder data. The streamlined navigation, ability to automatic complex decisions and one-step update of policy changes across multiple transactional systems dramatically boosts productivity, lowers training costs and ensures regulatory compliance.
Automate Work Management: The process and rules infrastructure enables work to be automatically routed and delivered based on carrier defined priorities, user skill and availability. The solution also facilitates the ability to leverage user resources and balance workloads across multiple front and back office service centers. Work status and process steps are automatically tracked to eliminate manual recording and improve management's visibility into operational performance. An intuitive dashboard enables managers to readily identify and remedy bottlenecks. To ensure compliance with service level agreements, deferred work is automatically managed and proactively escalated.
Increase Revenue Opportunities: Intelligent, real-time offers and recommendations are provided through the capabilities of Chordiant Marketing and Chordiant Decision Management to improve retention strategies, increase up sell and cross sell success and reduce business risk during any policyholder interaction.
Improve Service Quality: The process-driven interactions combined with improved visibility to the policyholder profile significantly improve service speed, quality and consistency across channels. In addition, policyholders are able to initiate interactions and quotes on the web and complete them in collaboration with a contact center representative due to the solution's seamless multi-channel infrastructure.
Reduce Deployment & Maintenance Costs: The configurable desktop, rich integration capabilities, robust insurance process model library and intuitive modeling tools reduce initial deployment efforts and risks as well as on-going maintenance costs. Carriers are achieving a 50-70% re-use of process models and components by their second and third projects.
Chordiant Policyholder Servicing Solution Customers
Examples of our Chordiant Policyholder Servicing customers include:
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The SIGNAL IDUNA Group is one of Germany's largest all-round financial groups. The SIGNAL IDUNA Group offers all forms of coverage and financial products from a single source, combined in a single corporation. It holds an outstanding position among the ten largest German insurance groups, and is very strong in both its capitalization and its financial resources.
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21st Century Insurance is the seventh largest personal auto insurance company in California and insures over 1.2 million automobiles. 21st Century Insurance The Group had $965.3 million in net premiums written, $981.3 million in revenues, and assets totaling $1.5 billion at year end 2002.
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If you require additional information on the Chordiant Policyholder Servicing Solution, please call 1-888-CHORDIANT or contact your local Chordiant Office.
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