Unlocking value through streamlined reinsurance recovery
Many insurance companies lose money because they fail to identify or calculate viable reinsurance claims. Reinsurance is a complicated business, and clawing back claims can be convoluted. Genpact's ReFinder does the heavy lifting for insurers, unlocking value in the data and returning money to clients to invest or boost their bottom line.
Genpact's analytical models are designed to scrutinize data for claim leakage.
Genpact's experts validate high-probability claims for client approval, billing, and collection.
The average sum ReFinder recovers is up to
$5mn
for its clients
Genpact analyzes successful claims to prevent future leakage, with data mapping and modeling completed in under three months.
Why is reinsurance recovery hard?
Reinsurance contracts often involve convoluted multiparty arrangements, and not every insurer has an IT system that can log, process, and send claims to its reinsurers. Mergers add more system challenges, and many insurers lack the staff or expertise to sift through legacy data for recoverable losses. Genpact ReFinder does the hard work, combing through data from across systems, while Genpact's experts make sure claims have merit.
Faster claims recovery
Partnering with Genpact and deploying ReFinder isn't a lengthy process. The data mapping and modeling typically take only three months. The digital processes and rapid expert reviews ensure funds are quickly recovered. With ReFinder's proprietary analytical modeling and insurance expertise, insurers can streamline reinsurance recovery, overcoming legacy challenges and embracing digital efficiency.