Insurance giant automates heavy admin work in claims, saving millions

Insurance giant automates heavy admin work in claims, saving millions

Company Background

A leading general insurance company in the Asia-Pacific region, committed to providing its customers with a superior claims experience, continuously seeks ways to enhance efficiency in claims processing. With a rich history and a robust portfolio of insurance products, the company serves millions of customers, offering protection and peace of mind through its comprehensive range of insurance services.

The challenge

One of their most significant challenges was managing the high volume of claims and claim-related email correspondence. With over 100 million pages processed annually, growing at a rate of 25% year over year, the task was becoming increasingly unmanageable. Each claim email, along with its attachments, had to be individually opened, converted to a PDF, merged together, and saved into a dedicated folder for further processing. This manual process was time-consuming and prone to errors, leading to inefficiencies and delays in the claims process.

Risks of manual processing

Manually processing claim intakes via email posed several risks for the insurer:

1. Human Error: The manual handling of emails and attachments increased the likelihood of errors, which could lead to misplaced documents or incorrect information being recorded.
2. Time-Consuming: The process required significant time and resources, slowing down the overall claims processing time and delaying responses to customers.
3. Inconsistency: Variations in how emails and attachments were handled could lead to inconsistencies in document management and storage.
4. High Costs: The labor-intensive process resulted in higher operational costs, including overhead and legacy system maintenance.

The Adlib solution

The company implemented Adlib, a document automation platform that seamlessly integrated with the company’s inbox, folder network, and OpenText repository. Adlib’s advanced capabilities automated the processing of incoming claim emails by:

1. Detaching Attachments: Adlib automatically detaches all attachments from incoming emails.
2. Converting to Searchable PDFs: The email body and attachments are converted into searchable PDFs, ensuring that all information is easily accessible and manageable.
3. Metadata Extraction: Adlib extracts metadata, such as case numbers, from the email subject, streamlining the organization of documents.
4. Saving and Organizing: The final PDF files are saved in dedicated folders, ready for adjusters to take further action.
5. Automating Communication: Adjusters can automatically assemble letters, forms, or other communications into a shareable PDF format, further enhancing efficiency.

The outcome

The implementation of Adlib brought about transformative benefits for the company:

1. Cost Savings: This insurer saved $6 million per year in overhead and legacy system costs by streamlining the manual claims email and document processing.
2. Improved Response Time: The response time to customers improved from days to hours, significantly enhancing customer satisfaction.
3. Increased Efficiency: The automated process reduced formating errors by 100% and ensured a smoother, more accurate workflow.
4. Enhanced Customer Service: With quicker and more efficient claims processing, the company was able to better serve its customers, meeting their needs and expectations more effectively.