Leading Insurance Provider Saves 30% in Managing Risk for Reconciliation Processes
Annual Revenue: $30 Billion
Customer Since: 2018
"For us to meet our goals, we must empower our employees and make sure that we're all aligned and focused on enhancing the customer experience and operating more efficiently."
- Chief Information Officer, Leading Insurance Provider
This customer - one of the world's leading providers of insurance, reinsurance, and other forms of insurance-based risk transfer - was looking for an effective solution to make the reconciliation process more streamlined and efficient. This process had been a source of significant stress for employees and the organization because it was manual, repetitive, and prone to costly errors that increased risk in this heavily regulated industry.
"We deal with sensitive data every day and it's important that our teams have the resources available to not only do this efficiently but also ensure valuable data is not being exposed to risk. We knew we could solve this problem with RPA and we knew we needed to scale it. With the help of Blueprint we gained the confidence necessary to expand our automation efforts across the enterprise and improve overall organizational efficiency."
- CIO, Leading Insurance Provider
The organization chose Blueprint's Enterprise Automation Suite to identify and prioritize RPA opportunities for the processes where the most errors and costs were incurred. By reducing their documentation effort and leveraging Digital Blueprints, the insurance provider was able to scale their automation efforts for these high-risk processes. This improved process quality while saving 30% of their time managing risk and compliance by mapping constraints to processes in Blueprint’s Business Process Modeler.
By leveraging the Blueprint Enterprise Automation Suite, the insurance provider saved 75% in documentation overhead by replacing process design documents (PDD) with Digital Blueprints for bot development. Digital Blueprints also provided RPA developers with the needed critical context for risk and compliance handling when building bots. By mapping constraints to these high-risk and error-prone processes, they also experienced 30% time savings in compliance handling. Those time savings along with the increase in quality and execution for reconciliation processes is what led to the 5x ROI from their investment in the Blueprint Enterprise Automation Suite.