Automating Policy Change Requests: Cogneesol Delivers $1Mn Savings with Increased Accuracy and Capacity

The Client:

One of the largest trucking insurance company in the USA.

Scope of Work

Policy change requests.

The Client:

Process Bottlenecks

Despite being one of the largest and fast-growing trucking insurance agencies in North America, the client's policy change process was manual, riddled with multiple forms and data sources, and lacked standardization. With annual volumes as high as 400,000 requests and non-standardized incoming requests, the process suffered from high error rates leading to frequent customer complaints and low customer satisfaction.

Cogneesol’s Optimization Solution

Drawing on our proven domain and technology expertise, Cogneesol worked with the client to jointly create a comprehensive solution to address the problem statement. The entire process was evaluated end to end, and a two-pronged solution was provided based on data and technology. It consisted of the following:

Two-phase solution creates a new operating model bringing standardization, and time and cost efficiencies.

    PHASE 1
  • Working with the client team, team Cogneesol initiated the standardization of input data. Using analytical tools, we identified inconsistencies, redundancies, and errors in the process, and defined their respective mitigation. An AI-based solution was then used to create an intuitive and user-friendly data-input template combined with RPA.
  • PHASE 2
  • With input data standardized, the next endeavor was to deploy a robust and efficient validation and request processing procedure.

It is amazing how Cogneesol helped us create almost 50% more capacity. It was huge! And completely helped in expanding our business. Working with them has been most lucrative!

Impact Delivered

The team finetuned the solution through continuous improvements and within four months of deployment, we were able to provide the following benefits to the client:

  • Process accuracy increased from 50% to 88%
  • 48% increase in Capacity due to optimization
  • Enabled client teams to focus on core business areas
  • Overall, delivered $1 Mn savings

Client Testimonials

It is always a pleasure to learn that the work we do has positively impacted our clients and that they are happy to share their experiences.

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