How Loop Reduced Claims Processing Time For Pride Purple
Pride Purple is a prominent real estate developer in Pune. This study examines the impact of Loop's streamlined claims processing time on employee satisfaction within the organization.
Pride Purple encountered significant challenges due to persistent delays, slow responses, and the inability to provide timely resolutions within the claims processing and settlement system. These issues hindered operational efficiency and compromised employee satisfaction.
Taking proactive steps to overcome the challenge through process optimization, technology integration, improved communication channels, and performance monitoring. This enables streamlined operations, reduced delays, and prompt responses and resolutions.
The Loop team ensured prompt responses and resolutions leading to reduced processing time for claims. Employees experienced improved satisfaction through real-time communication and updates. The digital solutions saw high utilization, resulting in better health outcomes for employees.
Challenges
Pride Purple was established about 19 years ago. They’re one of the leading real estate developers in Pune, offering upscale residential and commercial developments.
Their employee base of over 500, spread throughout India, including Pune, Mumbai, and Bangalore.
The young workforce, with an average age between 25 to 40 years, requires speedy solutions. Their previous broker experience witnessed significant challenges, including persistent delays, slow responses, and failure to provide timely resolutions in claims processing and settlement. These issues negatively affected operational efficiency and compromised employee satisfaction.
Persistent delays in the claims processing and settlement system frustrated employees who anticipated prompt responses and resolutions. However, the system's inefficiencies led to prolonged waiting periods, resulting in dissatisfaction.
The problem was aggravated by the lack of quick responses. When employees sought updates or clarification on their claims, the broker failed to provide timely and accurate information. This lack of effective communication further intensified the frustration and dissatisfaction.
Addressing these challenges was crucial to improving operational efficiency and employee satisfaction. Here’s where Loop came in.
Solutions
Loop, a modern health benefits provider, was quick to understand issues, and with the help of a dedicated team, was able to solve issues quickly. How?
Firstly, by streamlining and optimizing the claims process, redundant steps were eliminated, and the system's overall efficiency was improved—the 24X7 helpline assisted with faster and smoother claims processing, reducing delays and improving customer satisfaction.
Next, recognizing the importance of effective communication, the Loop team kept open communication channels. They ensured to provide HR leaders and employees with updates and alerts, whether it’s about claims or any general query.
Lastly, the Loop app offered convenient access to health insurance-related services. It provided convenient access to policy-related information, telemedicine services, and customer support. This improved convenience, saved time, increased transparency, and enhanced user satisfaction when managing their health insurance needs.
Result
Pride Purple witnessed notable improvements in its claims process through Loop. The efficiency of Loop's dedicated claims support team, available 24/7, and the involvement of dedicated relationship managers played a vital role in streamlining the process.
The presence of a dedicated claim support team ensured that Pride Purple's employees received prompt assistance and guidance at any time of the day. Whether it was a query, a request for information, or an update on the progress of a claim, Loop's team was readily available to address their needs. This accessibility and responsiveness contributed to a smoother and more efficient claims experience. Even physical documents were picked up on a weekly basis by Loop without any hassles.
A personal experience of Ganesh Lagad, Sr. HR executive, clearly depicts this. He said, “Another personal experience where my son got admitted to hospital. The Loop team themselves called us and said one of the team members will come and help and get the documentation done. This really helped ease the process. The staff is extremely understanding. Amazing experience.”
The inclusion of dedicated relationship managers added an extra layer of personalized support and expertise. These managers served as a single point of contact for Pride Purple's HR leaders, offering individualized attention and assistance.
Together, this helped employees experience reduced wait times, quicker resolutions, and improved communication.
Mr Ganesh Lagad, Sr. HR executive said, “I have a lot of experience with claims with different insurers. Usually, when we go to get a claim settled out of 100%, nearly 70% of cases get rejected. But with a broker like Loop who knows intricate details, they are able to help reconsider the case multiple times and get the claims settled. In fact, I have experienced this myself when my wife had a small operation. Although her operation falls under the cosmetic category, it wasn’t, as it occurred due to an accident. But through Loop, they made them consider it and helped settle the claim. Overall, Loop is very helpful.”
In addition, ongoing communication played a critical role in addressing potential issues or delays. Loop's team actively identified bottlenecks, promptly resolved queries, and ensured the smooth progression of processes. By keeping customers informed and involved, potential issues such as frustrations, or misunderstandings were effectively addressed – resulting in a more efficient and satisfying claims experience.
Pride Purple discovered that Loop's app provided them with more than just health insurance benefits. It served as a valuable tool for accessing a diverse range of additional services. The app allowed employees to access quality healthcare services from anywhere, ensuring their well-being was prioritized.
The popularity of the app was evident as 306 employees installed it. It provided access to a comprehensive range of benefits and services, including discounted rates for lab tests, convenient teleconsultations with doctors, real-time chats with medical advisors, and more.
The app's effectiveness and usefulness were reflected in the remarkable number of interactions that took place—over 323 in total. Among these interactions, 259 involved seeking advice from medical advisors, 64 involved online consultations with doctors, and 19 were for booking lab tests. Such a significant level of engagement demonstrated the app's importance and the value it brought to the employees' lives.
With a remarkable 3.7 out of 4 ratings, it was clear that employees were highly satisfied with the medical expertise and guidance they received.
The Loop app also offered employees effortless access to crucial policy information, including coverage details, network hospitals, e-cards, and more, all with just a few taps on their mobile devices.
During the initial phases, many employees were unfamiliar with the Loop app. To ensure that they became well-versed in its functionalities, the Loop team conducted comprehensive training sessions at various site locations and the head office. Knowledgeable Loop executives provided training on app usage, features, benefits, and other relevant aspects. As a result of these efforts, a significant number of employees now actively and frequently utilize the app.
In addition to appreciating the Loop app, Ganesh Lagad also expressed great satisfaction with the multiple training sessions provided. According to him, “Typical brokers simply provide quotes and conduct business transactions, without possessing adequate insurance knowledge to share with employees. However, Loop stands out by offering comprehensive training opportunities that cater to individuals with varying levels of insurance awareness, from engineers well-versed in the subject to those who are unfamiliar. The onboarding sessions conducted in different languages have proven instrumental in enabling all employees to gain a better understanding of group health insurance.”
Overall, Mr. Ganesh rated Loop 8.5 out of 10. According to him, Loop has an excellent healthcare system in place, including the staff, service, and additional benefits. He also commended the exceptional politeness of Loop's staff members.
Learn how Loop is changing the game.
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