Today’s insurance CIO is in the unique position to reinvent an organization by streamlining and standardizing operations to meet the demands of the consumer and cross-functional disciplines. This dual role of innovator and transformation agent gives the CIO a unique vantage point from which they can impact operational efficiency, business technology, and business transformation to promote a “customer-obsessed” company.
Promoting Operational Excellence
Operational excellence starts with identifying the business areas that need improvement and incorporating modern technologies to improve efficiencies and increase revenue. Cost effective solutions that enhance existing technologies and provide end-to-end visibility into member interactions can streamline processes and improve the customer experience.
For carriers, improving the customer experience means that prospect and member data must be connected across all business units to ensure reliable and appropriate communication and engagement. As today’s consumer becomes more engaged in managing their healthcare, it’s imperative for the carrier to capture and understand their member at every interaction. Today’s insurance CIO is in the unique position to create a “customer-obsessed” organization. Companies that adopt this approach will realize the opportunities by aligning “their strategies and budgets on the technologies, systems and processes that win, serve and retain customers.”
Implementing Operational Excellence
As the consumer-driven insurance marketplace continues to shift, carriers will need greater insight into all member touch-points in order to enhance the customer experience and improve financial and clinical outcomes. A new kind of consumer experience technology is required in order to identify gaps in coverage or services, which can significantly affect these outcomes. Consider the following example: A member submits a prescription claim for insulin, however there is no diagnosis code for diabetes in the system. An innovative customer experience platform could automatically create a case in a CRM for a health coach to follow up with the member to determine whether or not the member has diabetes which could ultimately save the carrier anywhere between $5K-$10K on a risk adjustment.
By capturing these types of transformational insights, carriers are not only empowering members to take a proactive role in managing their health, but are also lowering their risk.