Support with portfolio migrations and portfolio remediation for insurers
When insurance portfolios need to be migrated at short notice
Regulatory changes, new subsidy requirements, product migrations, portfolio transfers or remediation measures may require insurers to process large volumes of policies within a short period of time. This involves validating data, amending policies, contacting customers and processing their responses. At the same time, ongoing operations and customer service need to remain stable.
EXCON takes over these activities for insurance companies, providing additional flexibility and greater process efficiency.
Additional capacity for portfolio initiatives
Our back-office teams take on individual tasks or complete process stages, for example in connection with:
- Portfolio migrations and policy conversions
- Portfolio remediation and portfolio clean-up
- Customer information and outreach campaigns
- Changes to products or subsidy requirements
- Validation and updating of policy data
- Collection of missing information and documentation
- Processing of customer responses
- Preparation of subsequent advisory or policy administration processes
The scope and duration of our support depend on case volumes and specific technical requirements. This enables insurers to manage temporary portfolio initiatives without having to maintain additional internal capacity on a permanent basis.
Case Study: Portfolio Migration for a Motor Insurer
A motor insurer needed to migrate several thousand policies to new terms and conditions within a defined period.
EXCON handled the operational processing in accordance with the insurer’s specifications. This included validating policyholder, customer and vehicle data, clarifying missing or inconsistent information, and transferring policies to the new tariff structure.
In total, approximately 5,000 policies were processed at a rate of around 500 policies per month. Quality assurance and regular reporting ensured full transparency regarding processing status and progress.
Good to know: Depending on the project, we can optionally enhance these processes with automated data reconciliation, rules-based validation, digital communication or interfaces to existing systems.
Flexibility: Processing directly within the insurer’s systems
Depending on the project, our teams work directly within the insurer’s existing policy administration, CRM and workflow systems. Before processing begins, workflows, processing rules, authorisations and escalation procedures are defined.
This ensures that processing statuses, outstanding tasks and results remain fully traceable within the insurer’s existing operational environment.
Digital workflows for high-volume processing
If existing systems are not sufficient for a portfolio migration or remediation programme, EXCON can develop and provide supplementary digital workflows.
Depending on the requirements, these may include customer communications, digital data capture, document validation or automated responses. Additional processing steps and system interfaces can also be configured to reflect the respective workflow.
The functions deployed depend on the insurer’s requirements, the portfolios concerned and the existing system landscape. OCR, automation and AI can be integrated wherever they provide meaningful operational support.
Scope of Support
Our teams can take over individual processing steps or the complete operational execution of a portfolio initiative. The specific scope depends on the portfolio, the underlying process and the systems already in place.
Before the project starts, we determine which policies are affected, which processing steps are required, and which systems, rules and interfaces need to be taken into account.
Based on this assessment, responsibilities, workflows and technical support are defined.
Contact us for a non-binding discussion about your planned portfolio migration or portfolio remediation project.
