Codeplex Software Development gives Lombard Insurance “the edge in efficiency”.
We Can’t Manage What We Can’t See
As a business with a multi-million Rand’s worth of claim spend, Lombard Insurance wanted clearer visibility of its spend direction and the often-unseen leakages that eat into the bottom line. Lombard Insurance COO Shanaz Bangie and Senior Procurement Manager Kirk Van Wyk pinpointed the need for a more efficient cost containment capability as well as better management of SLAs (Service Level Agreements) with their service providers.
It’s not an uncommon problem in the insurance industry for companies to experience a certain lack of control in terms of supplier management. As an industry largely dependent on external suppliers in delivering services and resolving claims, spend direction is almost impossible to manage when undertaken manually.
When it comes to established insurance software solutions, neither Bangie nor Van Wyk were strangers to Codeplex’s Software Development.
Bangie says, “When Kirk and I built the case for the need of a service provider management tool, Codeplex was an easy sell to the rest of our executive team. Procurement is critical in the insurance space; it’s actually the engine of an insurance company. So not only does it need a dedicated Procurement Manager and the proper procurement process, it also needs the right system to support it.”
The Discovery Phase
During the initial discovery phase, Van Wyk, as Project Champion, identified key areas of concern such as the need to automate a manual process to create efficiency, visibility, and transparency throughout the claims process. How could they ensure they were getting the best rates from their service providers, check their turnaround times, keep their client informed, get customer satisfaction index (CSI) ratings, highlight potential areas of leakage and then mitigate those leakages? These were some of the questions raised over the course of several discovery phase workshops.
Van Wyk is quick to note that he found the Codeplex team to be well-versed in the industry and best practices, with the IP and knowledge to apply the most relevant nuances to their various solutions. Often, he says, the Codeplex team had the answers before he even had the questions.
“Ultimately, we needed to drive a more sustainable business.” says Van Wyk, and with the Codeplex system having been specifically perfected for the insurance industry since 2007, there wasn’t much need for any big customisations.
The Implementation and Rollout
What followed was a fairly quick implementation. From the discovery phase to the training programmes, User Acceptance Testing (UAT), and almost daily meetings, within just a few short months, Lombard Insurance’s Codeplex system went live with Phase 1 on-platform capability within the motor claims division.
Within 28 days of going live, Van Wyk could already see the tangible benefits. “From a claims perspective, Codeplex has added a lot of value, especially when you look at the interaction between the claims department and, for example, our motor assessors. There’s no more emailing back and forth with clumsy attachments and time-consuming follow-ups. It’s a click of a button. It’s an automatic escalation. It’s a central portal with a full audit trail that allows us to manage our service providers far more efficiently than ever before.”
Bangie agrees. “When you have the capability to measure your service providers, you’re able to have a much more robust engagement with them. Without a system like Codeplex, you’re almost going in blindly, but when you’re able to hold your suppliers accountable, your partnership with them strengthens, you provide a better service to your brokers, and you’re giving your customer a better experience.”
The Ultimate Partnership
There are many reasons why Codeplex Software has become the implementation partner of choice for Lombard Insurance. The starting point may have been in directing spend, but the benefits of partnering with Codeplex has, in just a few short months, far exceeded the insurance giant’s expectations.
“It’s a dream,” says Bangie. “I think Codeplex is going to be amazing for us, and we’re already looking forward to rolling out Phase 2.”
Codeplex Software benefits also include integrations with national suppliers, monitoring turnaround time, keeping governance and compliance documentation up to date, ensuring the use of contracted rates, keeping the customer informed, and integrating with admin systems in a way that prevents double capture.
Co-founder of Codeplex Software and Marshan Technologies Michael Rasch says, “Since 2007, we’ve driven one innovation after another to become one of the most integrated ecosystem in the country. This is our passion, and we’ll keep innovating.”