Project Name
Ksolves Delivered Scalable Salesforce Vlocity Solutions to Revolutionize Insurance Workflows
Overview
Our client is a leading player in the insurance industry and aims to optimize their insurance lifecycle to enhance the customer experience. They approached us to implement Salesforce Vlocity OmniStudio and Lightning Web Components to boost their product and policy management system. This solution allows users to create, manage, and adjust insurance policies while automating renewal processes for smooth operations and excellent service delivery.
Challenges
Our team faced the following challenges while working on the project that include:
- Complex Product and Coverage Creation: We need to define diverse insurance products with multiple insured items and coverages while maintaining the scalability of handling dynamic product configurations.
- Streamline the Quote-to-Policy Process: Needed to provide users with a guided experience to create quotes and policies. Also, we are required to handle input validations and underwriting scenarios where input exceeds minimum or maximum thresholds.
- Policy Renewal Management: Automating the renewal process while providing flexibility for manual interventions was a critical challenge.
- Mid-Term Policy Adjustments: Required precise validation for real-time policy updates without disrupting ongoing coverage or compromising data integrity.
- Policy Terminations: We needed to create a user-friendly and error-proof process to eliminate issues with policy termination. Also, ensure compliance with business rules throughout the termination process.
Our Solution
The Ksolves team has provided a comprehensive solution to the client that we mentioned below:
- Our team designed and implemented a scalable data model that efficiently works in maintaining the relationships between products, insured items, and coverages.
- We used Salesforce’s metadata-driven approach to streamline the configuration updates.
- Developed intuitive step-by-step guided flows using Vlociy OmniStudio to smoothen the quoting process and policy creation to boost user experience.
- To ensure accurate writing, our developer integrated dynamic decision rules that flagged quotes required for reviewing based on input thresholds.
- We automated workflows to maintain route-flagged quotes for manual underwriting review.
- To prevent coverage lapses, we have implemented the scheduled automation for policy. Also, we enabled manual renewal functionality for cases where user intervention is required to ensure operational flexibility.
- Built a robust Mid-Term Adjustment (MTA) process that enabled real-time policy updates while ensuring proper validations and audit trails to the error risks during adjustments.
- Created a step-by-step guided flow using Vlocity OmniStudio to handle policy terminations and implemented validation checks to ensure adherence to termination rules and policies.
- Our team has automated notifications to inform both customers and internal stakeholders upon successful termination.
Data Flow Diagram
Conclusion
Our team has successfully implemented Salesforce Vlocity OmniStudio and Lightning Web Components to enhance insurance policy management operations and enhance the user experience. The client business process has efficiently improved with automated workflows like renewals, policy terminations, and underwriting. Our solution has minimized manual intervention and saved time. We have delivered flexible and scalable solutions that can adapt to the evolving needs of the business.
Streamline Your Business Operations with Our
Salesforce Vlocity Implementation Solutions!
Streamline Your Business Operations with Our
Salesforce Vlocity Implementation Solutions!
