CASE STUDY

How The Leading General Insurance Provider achieved 80% Improvement in TAT with Process Automation

Policy processing for insurance

At A Glance

INDUSTRY

Insurance

The Client

The client is represented by the strategic collaboration between a local general insurance outfit in Malaysia and a major Japanese insurance group who owns a majority stake in the alliance. The Japanese insurance group boasts a global business network encompassing 218 cities in 30 countries and regions, including Europe, the Middle East, North America, Central and South America, Asia, Oceania and Africa. The client is now one of the leading general insurance companies in Malaysia with a strong financial background and a network of 20 offices and over 2000 agents nationwide that serves over a million customers. The client provides a comprehensive range of general insurance solution for individuals and business.

The Challenge

Most of the Policy Processing, Claims and Finance processes were manual; which inadvertently caused inconsistency in terms of quality, customer experience and turnaround time (TAT). The client also handles a vast number of documents accumulated over time and constantly faced issues with long processing time due to misplaced documents. There was an urgent need towards operational excellence with a solution that can improve service quality by achieving a competitive TAT and enhance productivity that will lead to cost optimization. The solution should also create the base for further process automation.

The Solution

Smart Processing Project (SPP) – Smart processing solution that can monitor live actionable information, decrease fraud, and boost operational efficiency.

A systemized workflow was implemented with the objective of helping the client to control cases and track statuses. The solution comprised of a flexible Business Process Management Solution (BPMS) through Nintex K2 Blackpearl integrated with a data capture solution (OCR/ICR) and an enterprise document management system – Docuflo to automate the data capturing process, optimize infrastructure centralization costs and boost cross referencing on documents.    

Docuflo allows business-related documents such as policy contract renewal notices, schedules, debit notes and statement of accounts to be captured and digitized from any source and location to create searchable electronic documents. A new design of intelligent e-form was proposed to allow data to be captured electronically in a structured format. A barcode identifier and corner stone was also added to facilitate the easy and quick capture of index values in an automated manner. Document and data that are captured and archived into the Docuflo repository can be easily routed for review and approval via an automated workflow and the information will be used to update business systems that have been integrated with Docuflo at any point.

The Results

SPP are maps that direct the operation teams on how to accomplish a goal in a timely manner, leading to processes that are delivered more consistently, reliably, and in compliance with standards of practice which will improve service quality to clients. We are able to take a holistic view of the processes and streamline/optimize them towards a shorter TAT. The goals and benefits achieved by implementing SPP are as follows:

  • Automation in Policy Processing, Claim Registration and Document Management, Claim Payment, Payment Receipting and Credit Control Monitoring from or to backend system, and online bank payment through payment gateway.
  • Centralisation of policy processing, claim registration, claim payment, payment receipting and credit control monitoring information and documents in one platform.
  • Efficiency in task routing by team and group designation in same department within authorised authority limit.
  • Visibility of case progress and TAT.
  • Auto notification on case registration and reminder for pending documents to clients with configurable reminder timeframe.
  • Enhance productivity resulting in cost optimization.
  • Data processed throughout this operation are retained and served as the baseline for next level robotic automation.

With this total solution in place, the client managed to achieve 80% TAT improvement for Policy Processing alone.

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