Burying a loved one is difficult enough, so having a seamless funeral-claims process can ease the burden.
Over the last six months, Old Mutual Corporate has embarked on a rigorous service reengineering exercise to rethink the SuperFund Integrated Risk funeral-claims process. The aim was to provide customers with a stress-free claims process and encourage efficiency within the organisation.
Previously, only 56% of funeral claims were attended to and processed within two days (48 hours).
"Following the reengineering of the claims process, which took place between December 2022 and May 2023, we now boast an astonishing 99% processing rate within the same window [with the process from receipt of all information to payment letter sent completed]," says Prabashini Moodley, Managing Director of Old Mutual Corporate. "This improvement exemplifies our commitment to providing a swift and reliable service to our customers."
In addition, during the month of June the company has been able to process 75% of funeral claims within four working hours. As a result, most claims are attended to within one working day, significantly reducing the waiting time and allowing clients to make the necessary funeral arrangements.
Year-to-date figures show that we have been able to disburse 62% of funeral claims within four working hours, guaranteeing that families can promptly and effortlessly obtain the financial support they require.
Prabashini adds, "At Old Mutual Corporate, we take immense pride in the accomplishments of our teams. However, at the core of this achievement lies our unwavering dedication to serving our customers in a meaningful and impactful manner. We recognise that efficiency and effectiveness in our processes and administration are vital to delivering superior client experiences you expect and deserve."
She concludes that Old Mutual Corporate's service reengineering exercise has transformed the funeral-claims process, setting new benchmarks for efficiency and customer service. Prabashini says that outside the reengineering process for the month of June alone, the claims team has already set a new record of 99% of claims processed in just eight working hours. She adds that these improvements represent Old Mutual's steadfast commitment to compassionate support during grief and loss.
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By Prabashini Moodley
Prabashini has more than 20 years’ experience in the financial services industry and has been Managing Director of Old Mutual Corporate since November 2019.