Our client is a mid-sized health insurance provider specializing in individual and small group health plans. The company serves a regional market with a strong focus on customer service and regulatory compliance.
With a portfolio that includes a range of health insurance products, the company is particularly attentive to the evolving regulatory landscape, including HIPAA (Health Insurance Portability and Accountability Act) requirements. The firm's commitment to maintaining high standards of data privacy and security has been a cornerstone of its operational philosophy, driving the need for a robust and efficient risk management framework.
Business Vertical:
Health Insurance
Region:
Midwest United States
Size of the Firm:
500 - 1000 employees
Challenge
The health insurer faced challenges in managing and mitigating risks associated with data privacy, especially with the increasing complexity of healthcare regulations such as HIPAA. Manual risk assessments were not only time-consuming but also prone to human errors, exposing the firm to potential compliance risks and data breaches.
Solutions Proposed
TED was deployed to enhance the company’s risk management framework. Key features utilized included:
- Automated the risk assessment process, allowing for more frequent and accurate evaluations.
- Created a centralized risk register to document, track, and manage all identified risks.
- Implemented continuous monitoring of risk controls to ensure they remained effective and compliant with regulatory requirements.
Outcomes
30% Reduction in Risk Assessment Time.
25% Increase in Risk Identification Accuracy.
40% Decrease in Compliance-Related Incidents.
50% Reduction in Manual Efforts.
20% Improvement in Overall Compliance Score.
15% Reduction in Operational Costs.
Qentelli (Kwen-Tel-LEE) is a Digital and Cloud Technology Company. Our Intellectual Property which includes AI based products, frameworks, methodology and process playbooks help accelerate and deliver Digital Transformation, Cloud Adoption, DevOps and Quality Engineering solutions to our customers.
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