RPA helps insurance companies with auto claims assessment
The insurance industry is in high demand, especially with claims arising from events involving vehicles. Insurance company owners also know the many problems that can occur as a result of an improper assessment of documents. Our RPA solution is here to do just that, auto claims assessment.
Developed in sprints, with an overall implementation timeline of 6 weeks
Our client had to process 300 claim files every day. The task was performed by 6 employees, each file taking, on average, 11 minutes to operate, making it a high volume, repetitive and tiring process. The procedure involves multiple screen swaps, document reading, and structured information with pre-determined rules.
The future state was designed to integrate RPA functionality on top of process optimization steps, limiting any human intervention until the end of the process and only restricted to business exception handling.
Our solution provides the use of unattended robots that run ~4 hours per day to do the data collection, validation, and to monitor if there are any errors outside standard working hours, enabling Claim Inspectors to resolve key issues and exceptions during their workday.
To perfectly implement the new digital workforce, we split the process into two phases:
Phase 1 – it involved the design and implementation of the Civil Liability Insurance process (4 weeks implementation timeline)
Phase 2 - leveraging on the CLI design led to the accelerated implementation of CASCO (2-week implementation schedule)
The use of new digital employees reduced the average time of handling a document from 11 minutes to 1.7 minutes/transaction, reaching a level of automation for this process of 95%.
Positive business outcomes
Using new technology for your business will always come down to how many benefits you can gain following its implementation. In the case presented above, our client obtained the following benefits:
- 95% of effort automated
- Average Handling Time reduced by 85%
- FTE benefits: ~4 gaining capacity of the AHT reduction
- Improved process accuracy
- First Pass Yield: 100%
- Increased customer satisfaction
- Employees are now focused on more meaningful work
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