We are focused on improving the way Insurance organizations address constant regulatory change, pressures on the bottom line and differentiating themselves in a crowded market. Successful organizations understand the importance of always refining the way they operate to achieve their business goals.
Business Process Improvement / Automation
A healthy business needs to evaluate its processes regularly. Our consultants have extensive experience in analyzing existing processes and determining how they compare to best practices, in the areas of sales and marketing, underwriting, billing, claims, and analytics. We realize, however, that there is not a “one size fits all” approach based solely on best practices; we incorporate your business goals and corporate culture to create a truly actionable solution.
Operational Analytics / BI
Analytics drives success in any organization, and the need to improve analytics capabilities
Our services include:
· Developing and implementing algorithms
· Designing data marts and reporting warehouses
· Providing analysis of your information and recommending next steps
Mission critical processes and applications within the organization should receive top priority, while non-core activities can and should be outsourced. Outsourcing addresses both IT functionality (ITO) and business processes (BPO), and should be a consideration of a well-run company. Outsourcing can address a lack in capability or capacity, as well as provide significant cost savings to the carrier.
In our experience, many companies have developed their outsourcing strategy in response to a directive to simply reduce operating costs. Our strategic approach helps reduce costs and risk while ensuring a higher level of customer satisfaction by allowing the organization to focus on core business efforts without distraction.
IT and Business Alignment
As Insurance organizations develop their annual IT budget and projects list, they should not succumb to the latest technology developments and buzz words. A thorough analysis of the return on your IT investments will provide the biggest bang for your buck, ensuring your internal customers work more efficiently while providing a ROI that directly improves your business and your bottom line.
Business requirements mapping, including buy vs. build analysis and vendor selection
The IT products and services industry provides excellent tools to improve your business, but there are still a lot of solutions that are oversold. We can review your business needs and help weed out the vendors that do not fit your needs (regardless of their sales pitch), or require extensive modifications that are not cost-effective. We also help your organization determine the true costs associated with an internal build decision, so you can better evaluate total cost of ownership against short and long term cost savings.
Many times insurance and healthcare organizations need to embark on projects that may require a specific management approach. We have experienced project managers who can drive these projects to success.
WKP Consulting, Inc.
Healthcare And Insurance Expertise When You Need It