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Automating Customer Onboarding Process for An Insurance Company

A leading insurance company uses Nividous Smart Bots to automate its customer onboarding process and achieves 50% and 60% reduction in fraudulent data and FTE respectively.

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Automating Customer Onboarding Process for An Insurance Company

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  1. A Leading Life Insurance Company Uses Nividous Smart Bots to Automate its Customer Onboarding Process Organization The customer, a leading life insurance company, is promoted by prominent financial organizations and has more than 50 million customers. The company differentiates itself through simple, easy to understand products that are fairly priced and efficiently serviced. Processes automated Customer onboarding using AI and ML Auto-termination pay-outs Premium calculation Mobile automation using WhatsApp Industry Insurance Challenges The customer onboarding process required insurance agents to collect end-customers’ primary details and supportive documents in the field using a hand-held android device. Upon receiving over 500 customer records daily from the agents, the operational team at the central office had to further process the data by transcribing, verifying, and updating required details and documents in their core systems. In case of any data discrepancy, the agent had to contact the customer for resolution. The biggest challenges were detecting fraudulent activities and expediting the verification process. Nividous Smart Bots with natively embedded cognitive capabilities have allowed us to deliver a wow onboarding includes engagement, omnichannel We competitive ensuring automating due diligence. experience real-time self-service, communications. able edge—all compliance that mobile and Solution Nividous Smart Bots with native Machine Learning capabilities were successfully deployed to automate the complete process. The Bots with intelligent OCR capabilities are able to accurately capture text and images from a range of documents including Cheque, License, and Passport, and autofill the data in a mobile app-based application form. The automation enables real-time data comparison, including photograph matching, and validation of documents on the android devices. The key highlights of the solutions are: Facial authentication for application login without using an ID and Password Liveliness detection to capture images of only a real person Face comparison between images captured via mobile device with images in KYC documents Data entry from the point of origin Natively embedded workflow and an intuitive interface for human review Ease of fraud detection and improved customer experience are to create a while and Deputy Vice President- Change Management & Strategic Projects A Leading Life Insurance Company For more information on how insurers use Nividous platform visit: https://nividous.com/case-studies#insurance Benefits 75% 50% 60% >90% Reduction in FTE Process tasks were automated Reduction in fraudulent data Improved data accuracy +1 (442) 444 2767 www.nividous.com contactus@nividous.com

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