Overview
eNoah's 1035 Exchange Support not only streamlined the exchange process but also enhanced the carrier's operational efficiency. The solution facilitated accurate data migration, ensuring compliance with regulatory requirements while minimizing disruptions for policyholders. eNoah's commitment to delivering a comprehensive and adaptable 1035 Exchange Support system has not only met but exceeded the expectations of the Large Life Insurance Carrier, demonstrating eNoah's ability to provide cutting-edge solutions in the insurance industry.
Challenges
- eNoah was asked to handle the required call count along with processing Transfers, NTC and Clean-up activities.
- eNoah was able to process the Transfers and NTC only during the call waiting time or after completing the call count.
- Due to this, it created delay on submitting the fax and its related paperwork to other carriers.
- Screen navigation for processing both Transfers and Calls consumed more time to complete the entire process. Some steps were missed while processing.
- As we had initial backlog in 1035 calling, the team was fully devoted to complete the call volume.
Our Solution
- eNoah segregated the entire 1035 process into 2 activity
types:- Non voice activities which include notice to carrier, transfer forms and clean-up process) are done in US Evening hours.
- Voice activities which included calling the carriers for updates and information are done in the US Day hours.
- Business Continuity Plan has been initiated by moving the US
overnight activities to BCP location
Key Benefits
Benefits:
- All the activities are completed
- The Carrier is able to focus on core activities.
- eNoah fine tuned the entire process flow to insure no steps were left out negating delays and errors.
Achievements:
- We were able to do 30+ calls per dedicated resource
- Achieved a 33% higher efficiency rating in call output
- Maintained a 99.9% Quality rating in all the areas
Additional processes:
- Forms Replacement Review & Processing as well as Life 1035
exchange has been assigned to eNoah