Summary
Clients come to us looking to streamline operations, reduce manual work in repetitive tasks, and speed up processing—especially in high-volume areas like claims, policy updates, and underwriting. They are typically focused on achieving strong ROI and boosting process efficiency
Introduction
A global insurance company struggled to scale its operations due to the manual processing of claims, underwriting, and policy servicing. This led to slow turnaround times, high error rates, and scaling inefficiencies. Additionally, maintaining regulatory compliance while keeping operational costs down remained a continuous challenge.
Discovery Questions
- Which processes consume the most time in your operations?
- How many FTEs (Full-Time Equivalents) are involved in these processes?
- What are the current process turnaround times?
- What’s the error rate in manual processes?
- How do you currently handle compliance reporting and audit trails?
- What is your expected ROI timeframe for an RPA solution?
- Are you familiar with setting up a Robotics Center of Excellence (CoE) for scaling RPA initiatives?
Challenge
Large insurance companies often face major challenges with high-volume, repetitive tasks like claims processing, policy servicing, and underwriting. Processing times are lengthy, error rates are high, and the manual work involved makes it difficult to scale operations efficiently.
Solution
A suite of RPA solutions was implemented using UiPath to automate critical tasks in claims processing, underwriting, and policy servicing with over 150 unattended robots. These robots seamlessly integrate with legacy systems, SAP platforms, and web applications through UI automation, screen scraping, and API integration, enabling 24/7 operation without the need for human involvement.
Robotics CoE
Set up a centralized Robotics Center of Excellence (CoE) to oversee and scale RPA initiatives, ensuring standardized and efficient management of automation projects.
RPA Framework
Established a comprehensive framework featuring unattended automation, UI automation, and SAP automation to streamline tasks like data entry, claims validation, and report generation.
Intelligent Document Processing
Implemented AI-powered OCR to automate document extraction, classification, and validation, accelerating the processing of claims and compliance documents.
Compliance & Reporting Automation
Automated compliance checks and reporting through RPA with API integration into internal systems, ensuring regulatory adherence with minimal manual effort.
Ongoing Optimization
Continuous improvements driven by AI and machine learning to refine processes and boost efficiency.
Benefits
- 1
Efficiency Gains:
Reduced process turnaround times by 50%, allowing faster processing of claims and policies. - 2
Cost Savings:
Significant reduction in manual labor costs, with ROI achieved in under 12 months. - 3
Error Reduction:
Manual errors reduced by 80%, leading to more accurate claim approvals, policy updates, and compliance reporting. - 4
Scalability:
With the Robotics CoE and RPA framework, the company can now scale automation across departments easily, ensuring future growth and operational flexibility. - 5
Compliance:
Automated audit trails and compliance checks ensured full adherence to regulatory requirements, reducing the risk of non-compliance