Robotic Process Automation (RPA) in Insurance Industry

>50%

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Reduction in process turnaround time

6000

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Staff-hours saved per months

100%

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Reduction in human errors

75%

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Intelligent Automation for an Insurance Underwriting Process

Intelligent Automation for an Insurance Underwriting Process

The process of scrutinizing new business proposals/policy applications for underwriting required over 25 FTEs to manually perform hundreds of validations. Nividous Smart Bots with native Computer Vision-based Optical Character Recognition (OCR) capabilities were deployed for accurate data extraction, while Nividous RPA Bots performed rules-based validations.

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60%

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Reduction in FTE

75%

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Process tasks were automated

50%

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Reduction in fraudulent data

>90%

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Improved data accuracy

Enabling On-Device Automation of Customer Onboarding Process

The process of collecting and validating information and documents for customer onboarding was highly time-intensive and prone to fraudulent activities. Nividous Smart Bots with natively embedded cognitive capabilities allowed this customer to deliver an exceptional onboarding experience that includes real-time mobile engagement, self-service, and omnichannel communications.

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14

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Quotes per second at peak load

92%

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Process time reduction

5000

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Quotes per day

80%

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Improved data accuracy

Leading Life Insurer Modernizes its Pricing Model for Liability Insurance using Nividous RPA Bots

Nividous platform simplifies a manual and highly complex end-to-end premium calculation process for the Liability Insurance Product by automating its dynamic pricing model function that generates bulk premium rate tables for quotations. The platform has also enabled a service-based architecture for quick and seamless integration with partner banks, mobile applications, and core business systems.

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90%

---

Reduction in manual efforts

95%

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Reduction in turnaround time

80%

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Improved productivity

Customer Service Automation for a Leading Insurer

The customer receives several service requests via email across various processes and required dedicated skilled staff to categorize and process those requests on time. The entire process was automated using AI-enabled Nividous Bots, which improved the service delivery significantly and reduced the process turnaround time by 95%.

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100

---

Hours per month
in labor-saving

85%

---

Faster processing time

45%

---

Improved productivity

75%

---

Improved visibility

Automated Report Generation, Distribution, and Reminders of Policies Due for Renewals

The staff was involved in manually downloading, segregating, and sharing over 3000 reports for policies due for renewals across regions to respective regional managers, agents, and insured clients. Nividous RPA Bots were deployed to automate the complete process freeing up resources to focus on more productive tasks.

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