Actionable insights for betterways to do business
In just 11 months, we developed 6 analytics solutions. Different business functions can use these solutions to generate their own actionable business insights. Some examples include:
A machine-learning solution that identifies product portfolio gaps. Using this tool, the insurer can identify customers ideally placed to move to Medicare – a national health insurance program – from commercial plans. This is a revenue opportunity of more than $55 million
- An advanced marketing campaign targeting tool to intelligently promote a new pharmaceutical delivery service. The initial adoption of this service equates to $500,000 in potential delivery cost savings
- A dynamic dashboard that highlights hospital and provider network performance to guide members to the most suitable provider and inform negotiations on group insurance rates. Moreover, the underlying data foundation reduced time taken to collect the associated data from months to days
These new solutions increased efficiency across our client’s operations revealing $75 million in potential cost saving opportunities.
Genpact also approached the engagement with scalability in mind by creating reusable analytics objects to speed up the development of future solutions. This is what enabled our client to take swift action to support its members during the onset of COVID-19.
In just two weeks, our client assembled an analytics pod to develop a COVID-19 dashboard that highlighted members most at risk of contracting the virus. Care managers were able to contact 240,000 high-risk members about health resources. In areas that might see a spike in cases, network managers warned healthcare providers so they could prepare to meet demand.
Today, we’re reviewing our client’s data management process, its overall governance plan, and its compliance strategy. With enhanced capabilities and a foundation for rapid solution development, the insurer is ready to adapt and thrive using the power of analytics.
To learn more about our journeys in analytics, watch Journeys in transformation - Understanding the role of a CDAO, and Journeys in transformation - Understanding agile analytics.