Automated Email Processing to Enhance Underwriter Productivity and Efficiency
Overview.
A leading Insurance Group, headquartered in Australia and one of the world's top insurers and reinsurers, providing cover in more than 150 countries. The client was looking to automate Policy and Claim Verification & reading of Incoming Mails for Efficient Processing of Submissions.
The client faced several operational challenges that hindered their goals:
Need for Efficient Submission Processing: The client needed a streamlined system to process submissions and allocate them to the appropriate underwriter while automating the email communications.
Processing Delays: The existing system led to significant delays, preventing underwriters from prioritizing and managing submissions effectively.
Solution
Coforge's solution was designed and implemented to address client’s operational challenges through a series of automated processes. Key highlights include:
Email Automation: Developed a comprehensive solution to automatically read incoming emails, enhancing efficiency and reducing manual processing time.
Policy and Claim Verification: Implemented automated verification processes for policies and claims, ensuring accuracy and consistency.
Document Management: Automated the uploading of documents to the ODM (ECM) system post-claim creation, streamlining document handling and storage.
Risk Management for Renewals: Introduced automatic creation and updating of risks for one-year renewals, providing accurate forecasts and renewal rates across Lines of Business (LOBs).
The Impact
70% productivity improvement of team
Processing time reduced to less than 5 minutes from 45 minutes
40% of the Emails/Cases are processed with minimal human intervention
Effective Management and increased transparency of risks of Submissions and Renewals plus real time reporting
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