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. AdfarTech 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.
About the client
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. AdfarTech was contacted to address business challenges that included:
- Meeting deadlines during seasonal spikes
- Reducing costs spent on resources
- Eliminating the impact of human errors on the accuracy Ther several processes that include mainframe applications, legacy desktop applications, web portals, and scanned pdf and image documents. Automation around such mixed complexity environment was a challenge in which AdfarTech already had developed best-of-breed capabilities.
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:
- Reduced cost
- Improved customer experience
- Increased accuracy
- Lower operation risk
- Human effort saved resulting in FTE savings
Working together AdfarTech and the client have collectively developed RPA CoE team. This CoE team has created a strategy to build a pipeline of automation using AdfarTech 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.
- A core team comprising of domain experts, process experts, bot developers, support team, admin and platform team and business SMEs
- CoE team identifies processes to be automated that involves analysis of risk entry processes for various LoBs. Using VDF (Viability, Desirability, Feasibility) lens approach to select a successful candidate for automation after analyzing of various factors such as Feasibility index, AHT, business volumes, CBA, complexity level and risks associated with each process.
- Based on the automation priority of various successful candidates, processes were automated and are in line of future automation
- Implementation team comprises of bot developers, solution architects architect, admin and platform team.
- After the project kick-off an implementation plan is created which includes the efforts and timelines involved in creation of L4 process map, PDDs, SDDs, development, UAT and production roll-out
- Support team includes a team of bot experts who are continuously monitoring bot activities and necessary actions related to bot support and reporting the health check of all the bots.
With bots successfully deployed to automate the post underwriting support operations of risk entry, the following benefits were achieved:
- More Efficiency: AHT reduced to a significant level as compared to manual process, thus providing enough capacity to handle peak season volumes. Overall percentage of automation in 11 processes so far is 88% which will go high on an incremental basis
- More Accuracy: With automation and reduced manual intervention significant level of accuracy achieved.
- More Savings: With scalable automation solution FTE numbers were reduced in all the processes. This stimulated revenue savings in all the LoBs for their operational cost with an overall annual average of $ 715K.