CASE STUDY
End-to-End Product Sales Quote-to-Contract Automation & Analytics for Large BCBS Insurance Payer
THE CHALLENGE
Growing pains: How to manage complex and expanding contracting processes & paperwork
Our client, a large midwest regional Blue Cross Blue Shield healthcare insurance payer, lacked the actionable data sources and processes necessary for leveraging sales, claims, billing and customer data for current wellness product positioning and sales. Their end-to-end process was decentralized and undefined, causing operations to be inefficient and fractured. This created a huge pain point not only for customers, but also for internal employees.
The client's end-to-end process created a huge pain point not only for customers, but also for internal employees.
OUR SOLUTION
Automating the ‘quote-to-contract’ process and streamlining wellness product sales and operations
In order to design and automate a solution for this undefined sales process, Optimity collaborated with a range of enterprise sales-impacted functional groups to redesign upstream product development and underwriting process flows, as well as downstream quoting, contracting and billing flows, for both current and future wellness products. Working in partnership with the client’s Sales Operations team, Optimity engineered the technology design, build, testing and deployment of the sales contracting system to automate these processes.
To optimize the system productivity and usability for our client as a result of the collected customer sales data, Optimity expanded the data discovery to customer billing, financial and engagement operations data sources, including relevant wellness product claims operations.
Optimity then analyzed, mapped and documented these expanded enterprise-wide data sources, per the customer reporting & analytics requirements driven by the BCBS business functions. To show the “art of the possible” analytics visualization, Optimity then prototyped sample customer and product sales reports, including some showing statistical and AI analysis correlating product sales relationships. In doing so, Optimity effectively connected and demonstrated the potential relationships between customer sales increase, product purchase combinations and corresponding costs.
Overall, Optimity provided data-driven methods and processes across deployment to automate and analyze various products and each of their respective customer segments, enabling BCBS to efficiently promote and expand wellness services among their members.
THE RESULTS
Client was able to obtain a significant majority of their approximately 600 self-funded customer renewals sales agreements during peak season prior to the Jan. 1 benefit year start
Automated the coordinated connection of internal wellness product development and underwriting with customer sales, contracting and billing processes.
Modeled the future state throughput efficiency of the end-to-end sales contracting process using simulation tools.
Mapped enterprise data sources containing sales revenue, product cost, claims utilization, billing and financial accounting to business-driven reporting and analytics requirements
Analyzed, documented and prototyped product selling patterns, revenue and profit-reporting visualization using statistical analysis and AI algorithmic tools from Amazon and Microsoft
