In today’s world it is very critical to be on the top of latest technologies like the automation technology of RPA and Intelligent Automation and leverage them to enhance the business objectives. Coforge has been a insurance service provider for a long time,and was approached by the client to enhance the service in the automation area for their various Lines of Business. This enabled us with the help of client to deliver best service in RPA. Our solutions resulted in number of key benefits for the client including SLA compliance, improved accuracy and efficiency, reduced costs, enhanced scalability and skill-pool management.
The client is a fortune 500 company providing lifestyle and housing solutions that support, protect and insure major consumer purchases and the extended products. The Company provides solutions for the challenges that people face every day like flooded house, expensive car repairs or unexpected funeral expenses. It provides insurance covers in travel domains as well. The insurance covers smaller inconveniences like a broken phone, misplaced mobile device or malfunctioning appliance. It has a global presence in 27 countries.
The client has number of processes in various business lines which has high fluctuations in volume resulting in excessive risk entry work and the statutory requirement to deliver within the stipulated time. Coforge was contacted to address business challenges that included:
After analyzing the business challenge.we proposed the business solutions using ProcessGym RPA Transformation for the existing manual operation with minimal changes in the existing operational process flow. Providing the mixed solution of RPA with Intelligent Automation the client has achieved number of benefits such as:
Working together Coforge and the client have collectively developed RPA CoE team. This CoE team has created a strategy to build a pipeline of automation using Coforge proprietary ProcessGym framework and built a roadmap aligned with various business functions post agreement with the business owners. This roadmap is a long term solution towards global automation which has more than 150+ process in the pipeline with an annual target of around 25 processes.
Following the automation pipeline CoE has been able to build RPA and IA solutions for more than 10 processes for the Global Home, Canada Financial Services, UK Finance, US Mobile, TWG.
With bots successfully deployed to automate the post underwriting support operations of risk entry, the following benefits were achieved: