Customer stories

A Fortune 200 insurer automates auto endorsement process to reduce AHT by 71%

Overview

A Fortune 200 insurance company partnered with Soroco to reduce handling time and errors on a complicated automobile insurance process. With Soroco’s Automation Suite, the company can now manage each work order with 100% accuracy and lowered the handling time by 71%.

Client

Fortune 200 Insurance Company

Process type

Insurance | Policy Change Management

Challenge

Processing work orders for automobile insurance endorsement is a time-consuming effort that required manual effort from the policy administration team via a legacy system to validate and ensure the work orders conform with vehicle regulations and state-specific rules. The team handled 1,500 of these each month, and took on average 42 minutes per work order to complete. The company was looking to automate the process to reduce errors and lower average handling time.

Solution

The company initially worked with an RPA tool to attempt to improve the process, but found they could not manage the number of rules and thus could not reduce average handling time nor improve accuracy. The company eventually selected Soroco’s Automation Suite, which could manage unstructured data in a more efficient way and can decipher all rules and regulations with 100% accuracy. The policy administration team now only needs to enter the work order details once, and the Automation Suite manages the rest of the process. 

By the numbers

1.5k+

1k+

work orders handled per month with 100% accuracy

auto insurance symbols learned by the automation system

Result

The automation system reduced average handling time from 42 minutes down to 12 minutes per work order and handles the 1,500 work orders each month with 100% accuracy. The automation system also saves the organization $325K in operating costs per year. 

Impact

$325K

saved in annual operating cost

71%

reduction in AHT

960

hours of human effort automated every month

Topics: Insurance Policy Change Management

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