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A WNS Perspective

Key Highlights

A leading insurance intermediary, with customers spread across the globe, had a single goal — protect people, operations and revenue from the COVID-19 impact. As the company had extensive relationships with global insurance carriers, vendors and suppliers, it was crucial to close its financial books accurately, on time, while meticulously meeting reporting standards.

As a strategic partner of the insurance intermediary’s Finance and Accounting (F&A) operations, WNS supports multiple processes, and manages almost 70 percent of the insurer’s book closing activities across all operating units and legal entities.

The mandate was clear. We had to activate a Work-from-Home (WFH) model for the entire team (a very large one). Our COVID-19 task force enabled us to plan and deploy the WFH model swiftly, as we worked towards mobilizing 100 percent of the systems.

We implemented a strong crisis governance model to analyze and mitigate risks at all levels. We analyzed risks at the level of planning and execution, to apply the mitigation measures when required.

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Managers were empowered to execute tasks at speed. We also set up regular cross-functional communication cadence with HR, IT, operations mangers, client partners, COVID-19 task force and leadership teams. Weekly reviews helped us stay on track.

The result? We achieved 75 percent of delivery capacity in five days – including setting up systems in employees’ homes across multiple global locations, establishing connectivity and ensuring data security. Within a month, we were fully operational. Our employees’ safety and their emotional well-being remained our top priority throughout.

The outcomes we chalked up include:

  • Digital frameworks for virtual engagement, real-time collaboration and online training

  • Rationalized payment terms for better cash flow during the crisis

  • ‘On-time’ quarter close and ‘zero’ impact on delivery across all locations and lines of work. Some key processes were closed well in advance

  • 100 percent compliance with stringent information security norms

Our speed, agility and digital deftness earned the appreciation of the insurance intermediary’s leadership team.

At WNS, our people-focused approach aligns with our client-first ethos. Our F&A expertise combined with digital-first solutions enable companies to drive cost optimization, improve risk mitigation and enhance customer experience.

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