Hiscox recognized by Celent as Model Insurer Award

Read the report: https://info.sapiens.com/HiscoxLP.html
Learn more: https://www.sapiens.com/solutions/sapiens-decision-for-insurance/




Hello. I am Kedar Kulkarni, Director of Account Management at Sapiens Decision. Industry analyst Celent recently awarded our client, Hiscox with its Model Insurer Award. This award is given in recognition of Hiscox's best practices of technology in insurance. Sapiens Decision assisted Hiscox with the rollout of its new digital claims solution. Our client executive was Harriet Parkinson Head of International Claims Operations. Here are some highlight from my interview with Harriet on this project.
The objective was not to make ourselves more efficient, to save money or to save headcount. The objective we ultimately were aiming for was to be seen as the leading, the market leading claim service. Building the models, building the rules in actual fact in Decision is, is not too difficult. And we spent a lot of time being coached about what are rules, what are decision models and, and how do we actually build them from asking a set of questions from a workshop. So Decision is now driving all of our rule-based decision making. Every customer journey, when they call to notify a claim with us, is consistent and fair. The big win for property claims from both the customer and a business perspective is an increase in our Day One Settlements.
The other massive positive we've had is our ability to take a step into digital claims. So we now have our online claims notification portal which again, the logic and the journey is entirely driven by Decision.
And I think if you ever do have the opportunity to look at Sapiens Decision and how the models and rules are built and worded, this is business language. It is not IT Code, it is not IT language. I can give those models to anyone at the Head of Claims and they will be able to read them and understand them. I'm extremely pleased with what my team have delivered for Hiscox and for our customers.