One of Sweden´s largest pension company AMF and Itello migrated over 5 million insurance policies in one of the largest insurance migration project in Europe. The project enabled AMF to leave an outdated mainframe environment in favor of a modern. The migration also reduced the number of administrated policies and reduced the cost for the policy holders....
Improved death claim process
Our customers administrate over 13 million policies for over 5 million individuals in Inca. The death claim process is one of the most time-consuming processes. Double-check and triple-check are common in the process. This collaboration project aims to identify the critical areas where improvements will have the most significant impact in handling the claim and improve quality.
Customer insights enable Itello to deliver customer value
2019 our customer migrated over 750 000 policies and 2020 the plans are to migrate over an additional 1.5 million policies from multiple bespoke legacy systems adding the number policies administrated to close to 15 million.
The experience from multiple bespoke systems our customers have, enable us to cherry-pick the best ideas for the effective administration of not only death claims. Since Inca replace numerous systems, we have now reached a critical mass for this collaborative initiative to identify an effective death claims handling process including:
- Output information to recipients
- Replacement policies to beneficiaries
- Task management
– Improved handling of beneficiaries
– Improved authorisation of the benefit amount
- Configuration of Inca
- Improvements regarding testing when taking a new version of Inca in production
The critical areas for improvements and their priority are based on interviews with death claims officers from all our customers. When implemented the time for handling will be reduced, since double-check and triple-check is obsolete. Also, the issuance of replacement policy will be automated, likewise reducing the risk for manual errors.
The collaboration project is supported by a strategic initiative improving the claim handling overall, including, illness claims, retirement and death claims.
An increasing number of occupational pension policies are building up a giant administrative debt
There are close to 25 million occupational pension policies in Sweden. Procurements over time have created several generations of occupational pension plans for all members even if they still are working for the same employer.
One of the largest pension companies in Sweden with over 5 million clients and default insurer for the collectively negotiated pension plans SAF-LO identified the administrative burden both when clients want to retire and potentially later death claim handling. They, therefore, initiated a project resulting in the most massive migration in Europe, 5.65 million policies and 300 million SEK in reduced costs for their clients.