Our client is a is a multinational insurance company based in the United States. And is one of the largest insurance companies in the world, with operations in more than 80 countries.
Automating a complete form filling and policy issuance process using Automation Anywhere for ERS (Emergency Road Service) can be a great way to streamline the process of providing emergency road service to customers. Automation Anywhere is a powerful automation platform can help organizations automate their processes and reduce manual labor Automation Anywhere, organizations can create automated workflows to automate the process of filling out forms, issuing policies, and other related tasks.
Automated policy issuance and form filling offered a number of benefits to our banking and insurance client, including improved efficiency, accuracy, and customer satisfaction. By automating these processes, you can reduce the amount of time and resources required to issue policies and complete forms, which can result in cost savings for your clients. Additionally, automation can help ensure that policies are issued accurately and that all necessary information is included on forms, which can help prevent errors and reduce the risk of liability for your clients. Overall, automated policy issuance and form filling can be a valuable tool for improving operations and enhancing customer experiences in the banking and insurance industries.
The process automation helped client in reducing policy issuance time, errors and hence streamlined process and satisfied customer. The Solution helped client in reducing policy issuance time from 40 mins to 2 mins.
Objectives
Insurance policies were managed and released through a manual renewal process.
The manual process was prone to errors and was cumbersome.
Automation was necessary to improve efficiency.
Solution
An automation bot was developed using the Automation Anywhere (AA) tool.
The bot was programmed to automate the form filling and policy issuance process.
An ERS sheet containing policy details could be directly uploaded into macros.
Once uploaded, the bot was able to complete the process automatically.
Results
The automated process significantly reduced policy issuance time.
Workforce costs were reduced due to the decreased need for manual labor.
Errors in policy issuance were greatly reduced.
Overall, the automation implementation had a positive impact on efficiency, cost, and accuracy.
Here are some other companies utilizing automations for insurance benefits: Nexus , Forbes, Insurance Thought Leadership , Guide to Implementation