Simplifying Vendor Claims Settlement for a Leading US-based Insurance Brokerage

Overview

Tech Mahindra helped a leading US-based insurance brokerage modernize its legacy system to streamline vendor claims settlement. By automating data processes and reducing system complexity, the client achieved over $1 million in annual savings and significantly improved operational efficiency.

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Challenges

  • Rigid legacy system incompatible with multiple vendor file formats.
  • Complex file management led to high maintenance and manual cross-verification.
  • Operational inefficiencies and risk of errors in claims processing.

Key Solution Features

To address integration challenges and reduce manual overhead, Tech Mahindra redesigned the client’s legacy system and introduced a centralized data framework. This enabled seamless vendor coordination and improved claims processing. Key features included:

  • Reconfigured legacy system to support streamlined data processing.
  • Implemented ETL-based data integration and a unified reporting module.
  • Automated generation of a consolidated master report from multiple vendor systems.
  • Enhanced accuracy and efficiency in claims disbursal and vendor management.

Business and Community Impact

  • $1M+ annual savings achieved through streamlined payments.
  • Daily payment volume increased from $4,000 to $10,000.
  • Vendor coordination improved, reducing operational disruptions.
  • Laid the foundation for scalable modernization beyond the legacy system.