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 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 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.