Euro Insurance’s utilise Microsoft Dynamics CRM Technology for Claim Reconciliation System
Company: Euro Insurance Ltd.
Dealing with thousands of claims per month, Euro Insurances Ltd. needed to reconcile information between the claims payments and the invoice details being sent from claim handlers all over the world, to guarantee that all the Claims were being tracked, paid and closed in time.
The process for claim reconciliation meant that the operations department was spending hours exporting data from multiple countries into Excel, applying data cleansing rules, ensuring that all the payments and claims details were well formatted and all the files stored in the correct folders, in order to finally run a reconciliation process and begin the actual monitoring work.
Euro Insurances engaged the services of Codec, Microsoft Dynamics CRM partner of the year 2011 and 2013 for this project given their experience in successfully designing and implementing a Large Claims Management System for Euro using Dynamics CRM technology in 2012. Development of this solution greatly increased productivity by allowing all large claims within Euro Insurances to be centrally managed.
Codec CRM consultants carefully examined Euro’s requirements analysis, the working habits of users and the previous reconciliation tool and recommended a Claim Reconciliation System (CRS) based on Dynamics CRM 2011 technology.
The solution presented and implemented at Euro Insurances proved that Dynamics CRM was a robust and flexible enough platform to deliver on their requirements, with the advantage of integrating some of the information used by the Large Claims Management System (LCMS) thus reducing data replication, maintenance efforts, empowering reporting functionality with less user dependency.
Tom McArdle, Lead CRM Consultant for Codec explains: ‘With the knowledge of business and working processes that we already had from previous projects with Euro Insurances and by analysing the customer requirements, we had no doubts that this was a project that fitted perfectly the XRM definition.’
‘With a requirement of integrating and reconciling a considerable amount of data from multiple data sources (16 million claim records each month), our main priority was to give a similar user experience to what they had with the previous reconciliation tool guaranteeing user satisfaction and making the learning curve shorter.’
‘We have created entities, views, forms, workflows and dashboards to customise the system to meet Euro’s requirements ensuring at the same time that LCMS and CRS have common entities and the same system infrastructure.’
In addition, to ensure maximum system availability and responsiveness Codec applied some indexes to the Dynamics CRM database and developed the functionality to schedule reconciliations so users can leave them running overnight.
‘This is what the Dynamics CRM platform is all about: It provides easy integration, great user experience, a robust and reliable structure and is an extremely flexible and customisable application’ added McArdle.
From when the initial solution was proposed, Codec developed and delivered the entire new Claims Reconciliation System within 4 months and it quickly met its principal goal of simplifying and providing a more reliable tool to perform all the monthly claims reconciliations whilst at the same time ensuring full user adoption and satisfaction with the solution.
This means that the operations department in Euro Insurances don’t have to spend hours exporting data from multiple countries to excel, applying data cleansing rules, and formatting all the data so that they can finally run a reconciliation process.
Users are now able to perform the same actions they used to perform in the old tool but now have an improved user experience, less user dependency as well as a reduction in the time involved, leaving users with more time to monitor and report against the un-reconciled claims, ultimately improving the company efficiency and working methods
““Having chosen Codec as our Microsoft Dynamics XRM partner for the design/development of our Large Claims Management System, we were immediately struck by their level of professionalism, product knowledge and how quickly they showed a clear understanding of our unique business requirements. Codec has been a fantastic partner from initial consultancy through to the successful implementation and now post-implementation support and both Codec and Dynamics XRM exceeded all our expectations. This was a true partnership and we look forward to working with the Codec team again on other XRM related projects.””