Premium Calculation Process Automation for an Insurance Industry Leader

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Leading Insurer Modernizes its Pricing Model for Liability Insurance with Nividous Bots
 

A Leading Insurer Modernizes its Pricing Model for Liability Insurance with Nividous Bots

 
14

Quotes per second at peak load

92%

Process time reduction

5000

Quotes per day

80%

Improved data accuracy

Industry

  • Insurance

Processes Automated

  • Premium calculation
  • Customer onboarding using AI and ML
  • Auto-termination pay-outs
  • Mobile automation using WhatsApp

Automation Highlights

  • The automation platform enabled a service-based architecture, enabling quick and seamless integration with Partner Banks, Mobile Applications, and Core Business Systems

A leading life insurance company in India

The customer is present in over 1,000 cities and towns through more than 10,000 points of sale. The sales process for their Liability Insurance Portfolio involved hours of complex, excel-based premium calculations. The time commitment associated with these calculations prevented precise and rapid customer service and resulted in lower conversion rates. Nividous RPA Bots simplified the premium calculation process by automating the dynamic pricing model.

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The Pricing Model BOT is truly a disruptive solution and the first of its kind in the industry. The BOT works in both attended and unattended modes. Based on the early success, we plan to expand the use of the Nividous platform for increased operational speed and agility.

Director – Operations and IT

A Leading Life Insurance Company

 

Guaranteed Production Roll-out of a Trained RPA Bot in 3-4 Weeks

Guaranteed Production Roll-out of a Trained RPA Bot in 3-4 Weeks

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