Large multinational insurance carrier

Business Case

Client did not have clarity and right priority in handling receivable accounts, due to years of backlog and limited team capacity. EXL helped enhance the receivable strategy by applying automation and analytics, which significantly reduced unbilled account balances and improved collection effort and efficiency.


  • 10+ years historical backlog of unbilled accounts (more than 10K accounts added to deficit annually).
  • Inadequate focus on premium calculation and reconciliations due to capacity challenge.
  • Need to leverage a more structured and robust model for knowledge management and performance monitoring.


  • Established global team to handle current premium reconciliations and loss adjustment volumes, enabling capacity for stateside teams to manage backlog.
  • Enhanced effectiveness and end-to-end visibility through analytics-led collections processes.
  • Delivered bottom-line impact by close synergies between loss adjustments, premium billing and collections.


  • Cut close cycle from 7 days to 3 days
  • Reduced duplicate payments by 90%
  • $11 million annual savings and $1.1 million vendor credits recovered in year one
  • Improved productivity by 36%
  • Accurate and timely financial reporting to support senior management decision making

Best Practices & Benchmarking

  • Integrated delivery team across the loss-sensitive receivables process lifecycle.
  • Year-on-year efficiency gain of ~20% measured by adjusted accounts, between 2009 and 2013.
  • Clear accountability and improved process controls due to well defined governance matrix.
  • Robust knowledge management and Analytics based performance management.

Automation & Analytics

  • Improved collectability ratios by over 100% on workers’ compensation legal collections through a focused analytics intervention for enhancing prioritization strategies.
  • Achieved ~90% reduction in unbilled account balances as well as current contracts (ahead of target to achieve 100% reduction by Q3, 2014).
  • Reduced cost of processing per contract by ~30% through LEAN Six Sigma interventions and aggressive work breakdown analysis.
  • Improved customer experience through accelerated dispute resolution time.

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