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Banking & Insurance - Customer Service
Life insurance department coping with an increase in workload by implementing RPA
Once every month, mutations have to be performed on certain life insurance policies. The company was expecting a 100% increase in their workload. We implemented an RPA solution that fully automates this whole process. Our solution ensured that this company could handle an increase in their workload.
Use case
Once every month, mutations have to be performed on certain life insurance policies. Reasons for these mutations are very diverse but can be specified within a set of rules. Employees go through the list with policies searching for the right characteristics. When the right characteristic was found, the policy should be mutated.
This process is very labor-intensive and highly repetitive. The company also expects an increase in policies of 100% due to an internal data-restructuring. All these reasons sum up to be a perfect opportunity for an RPA solution.
Applied technologies
6 weeks delivery time
6
Months to ROI
1250
Hours saved annually
100%
Of effort automated
100%
Capacity increase
100%
Reduction of errors
Our solution
We created a digital workforce using RPA technology to automate the process of mutating life insurance policies. Our goal was to fully automate the process and reduce the workload. The robot was built to perform the following steps:
- Read input file containing all policies
- Loop over each policy and perform all validations
- If policy requires change, make the change and send a letter to the client
Our robot is able to automate 100% of the process and save over 216 hours on a yearly basis. Next to time reduction, we increased the policy handling capacity by 100% while reducing the amount of errors to zero. The robot is now able to manage twice the amount of steps the employees did in the old situation.
RPA offers a solution that is effective, efficient and reliable. Workers can refocus on work that matters and stop wasting time on manually mutating life insurance policies.
Integrated applications
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