Cogneesol-enabled Process Automation and Transformation: Increases savings up to $5mn and 15% capacity

The Client:

A top-notch insurance company operating in the P&C domain based in the US delivers excellent solutions to its customer base.

Scope of Work

Streamline fragmented insurance data and processes.

The Client:

Process Bottlenecks:

The client’s processes were complex owing to multiple fragmented datasets in different formats. These were causing reporting delays including regulatory reporting delays, resulting in fines and penal action by the authorities.

In addition to this, the client’s teams were struggling with their performance on key metrics, the most critical requirement for any business. All these had led to gaping operational inefficiencies, inaccurate forecast demand, and an absence of strategy with most requirements being met on “emergency” basis instead of planned executions.

Cogneesol’s Optimization Solution:

We approached the issues on the back of our domain expertise in P&C operations and thorough understanding of the data sources combined with complex data management skills. Our solution comprised the following structures:

  • Intelligent data warehouse: The team prepared logical data structures and programs to centralize data from multiple data sources.
  • Real-time reporting matrix: Once the data structures were detailed to a granular level and complexities highlighted, business metrics were defined with inputs from the client’s team. This helped streamline data further and rationalize demand within the client environment. Data sources were now streamlined to create “one source of truth”, standardizing reporting across all brands, regions and teams.
  • Self-service model: The team then went to the next phase of transformation where they spearheaded multi-dimensional view of reports enabling users to analyze key data metrics across different variables including portfolio, product, operational and distribution level. Business users were empowered to customize reports based on their departmental requirements.

The team has over-exceeded our expectations. What started with simplification and standardization, has now graduated to automation and highly responsive processes. These have impacted our revenues in a positive way. We continue to have deeper engagement with Cogneesol.

Impact Delivered

  • Automation solutions in reporting led to 15% increase in resource capacity; more work could now be handled with lesser staff.
  • Delivered overall savings of more than $5mn over a period of 3 years.

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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