A private health insurance company faced rising healthcare costs but wanted to avoid passing this burden onto its members. The company also sought to grow its analytics capabilities to find new ways to stay competitive.
Working with Genpact, the company set out to enhance its agile analytics strategy, solution development, and delivery model. In just 11 months, we used agile analytics to create several solutions, including a machine-learning solution that identifies product portfolio gaps and a dynamic dashboard that highlights hospital and provider network performance. The creation of reusable data and analytics sped up future solution development.
Over three years, Genpact developed digital analytics-backed solutions for member risk management in healthcare, member engagement and experience, provider benchmarking across quality and cost of care, a star rating prediction model, and product design.
Through our work, we increased efficiency across the company's operations to identify $75 million in potential cost-saving opportunities. We also advanced marketing campaign targeting to reveal revenue opportunities of $55 million for promoting new pharma delivery services. With enhanced capabilities and a foundation for rapid solution development, the insurer is building a strong future using the power of analytics.