The implementation of Robotic Process Automation is changing the landscape of the insurance industry. Our client realized the potential of automation within their own company. Every month, their employees were bound to the same, repetitive task: manually executing mutations on life insurance policies. Ciphix implemented a solution that frees up employees from this time-consuming task, while realizing 100% automation combined with 100% reduction in errors.
The implementation of RPA boosts many industries, one of them being the insurance industry. Traditionally, our client’s employees need to manually perform mutations on life insurance policies, a process that recurs every month. Reasons for mutating a policy can vary, making the process of manually searching a list with policies even more time-consuming. Employees need to go through this list with a lot of attention, in order to avoid errors. This process is already repetitive and labor-intensive, but with the prospect of an internal restructuring of data, it would be an unmanageable one. This data restructuring leads to an increase in policies with 100%. So, this would be a good time to implement an RPA-driven automation tool!
Months to ROI
Hours saved annually
Of effort automated
Reduction of errors
With RPA implementation, insurers can improve back-office processes so that employees are not stuck with manually going through data anymore. RPA software can process repetitive actions, like clicking through applications and typing information into fields. We have successfully implemented an RPA-driven Digital Workforce that is built to perform the following steps:
By automating 100% of the process, the robot saves over 1250 hours on a yearly basis. Moreover, by replacing manual processes with RPA, the insurance company is ensured of a 100% error-free process. But most importantly, the employees’ job satisfaction has improved significantly since their digital employees take care of the repetitive tasks.
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