While we can all agree that the goal of Digital TPAs is to deliver an exceptional customer experience, drive down cost and build scalable processes, getting there is not always easy and can be costly from a time, money and risk perspective. Can we deliver an improved digital experience when our administration is on a legacy platform or multiple platforms? And can we give our legacy platform/s a Digital facelift?
The answer to these challenges is a definitive “yes.” Digital TPAs can deliver an enhanced digital customer experience by creating a universal customer interface layer and building connective tissue that performs the necessary actions in the legacy world, as well as triggering additional final actions in other applications within the ecosystem.
Digital TPAs enable insurance companies to communicate via text message and email, as well as receive policy updates via member portals. They can also provide chat support that enables customers to initiate changes to their policies on completion on the channel of their choice.
However, this approach depends on two critical components:
- A universal customer interface (or interaction layer)—this is what shapes the customer experience. The customer interface needs to manage all of a customer’s engagement expectations effectively, offering all methods of communication. It must also be able to display and collect all the information needed to manage the insurance policy in an intuitive user-friendly manner. It should be reflexive and only present the information needed for updating or reference.
- The integration layer—this collects the information from the interface component, determines what needs to be done and how to do it. Using such tools as robotics, automation, data feeds and web service calls, the integration layer performs the actions in the appropriate legacy platform, triggering other activities if needed, as well as providing a response back to the customer confirming their request has been received and is being processed. If the action can’t be done via the integration tools, a task or activity can be created in a workflow or business process management (BPM) tool for the appropriate person to perform the activity with the same level of customer engagement.
From the customer’s perspective, requests are carried out quickly and accurately, and they are able to communicate in their preferred channel. From the insurance company’s perspective, significant improvements are made to the experience, which has become faster and much less costly.
However, technical wrappers won’t solve all an insurer’s issues. For example, they won’t reduce heavy licensing and maintenance costs, or significant system or IT resource issues. But they can provide welcome relief while a conversion plan is created and the systems for conversion and their order of conversion are determined.
In summary, Digital TPAs offer a flexible approach to executing conversions, converting policy blocks three times faster and taking a technical wrapper-based approach to legacy administration platforms to drive efficiency. Digital TPAs also leverage a consulting approach to identify the most optimal solution that fits the characteristics of the insurance block under consideration.
Digital TPAs provide the universal customer interaction layer, the integration tools such as robotics, automation and web services, and the domain knowledge—both operationally and technical—that enable insurance companies to accelerate their digital journey and deliver an enhanced digital experience to their customers before, during and after transformation.