Bautomate's Intelligent Automation Revolutionises the Process of Improving Insurance Claim Efficiency
The client is a prominent general insurance firm based in Singapore, with over 1 million customers across various markets. They offer a wide range of insurance products, including life, health, and motor insurance. With a comprehensive suite of personalized policies, the insurance giant has established itself as a trusted insurer, serving Singaporeans with innovative and reliable coverage.
Business Challenges
The client’s insurance claim processing involved handling a large volume of documents, from policy details to medical reports and damage assessments which led them to face several critical challenges,
Claims processing requires manual assessment of documents, forms, and data entry, leading to lengthy processing times.
The manual entry of data from these documents into their systems was error-prone, time-consuming, and led to delays in settling claims causing issues with accuracy and leading to disputes and customer dissatisfaction.
Prolonged claim processing times and inaccuracies impacted customer satisfaction and loyalty. The need for a large workforce to manage claims increased operational costs.
Bautomate’s Solutions
The insurance client partnered with Bautomate to streamline claim processing using RPA, OCR, and cognitive solutions. RPA bots automated tasks like data entry and validation, while OCR technology digitized and extracted information from physical documents. These solutions reduced manual effort and improved accuracy, leading to faster claim registration and assessment. The bots were integrated with the client’s existing systems.
Results Achieved
80%
Reduction in time spent on claim processing
30%
Improvement in customer satisfaction
66%
Reduction in dispute resolution time
300%
Increase in claims processed per day
Would you like to explore Bautomate for your insurance business?
While the initial implementation brought about significant improvements, the Singaporean insurance firm is keen to explore further automation opportunities in other areas of insurance operations, such as policy issuance and customer support.
