THE CHALLENGE
Insurance was facing a significant challenge in their claims processing department. The process of manually reviewing and processing claims was time-consuming and error-prone, leading to delays in claim approvals and dissatisfaction among customers.
THE SOLUTION
- The RPA software was integrated with the company's existing claims processing systems, such as their database, document management system, and customer communication channels.
- The software was designed to automatically review and validate claims by extracting data from incoming claims forms and checking it against pre-defined rules and regulations.
- The software also automatically entered data into the company's database and updated the status of claims in the document management system.
- The software was also programmed to communicate with customers, sending them notifications on the status of their claims and answering any questions they had.
- The software was also able to handle escalations and exceptions, routing them to the appropriate department for manual review.
- The implementation of the RPA software also included testing and monitoring, to ensure the software was working as expected and to identify and resolve any issues that arose.
- The company also received training and support from the RPA vendor to ensure the smooth implementation and operation of the software.
It's worth mentioning that the solution was implemented in a phased approach, starting with automating the most repetitive and time-consuming tasks, and then gradually expanding the automation to cover more processes and tasks. This approach allowed the company to gradually realize the benefits of the automation and fine-tune the solution as they went along. Additionally, the company also set up a governance structure to ensure that the solution was aligned with the company's goals, objectives and compliance requirements.
THE RESULT
The implementation of RPA reduced the time required to process claims by 60%.
The number of errors in claims processing was also reduced by 50%.
The automation of the claims process resulted in a significant increase in the number of claims processed per day.
The company saw a reduction in operational costs and an increase in customer satisfaction.
The company also saw a reduction in the number of staff required to process claims, allowing them to reallocate resources to other areas of the business.
