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Premium Calculation Process Automation for an Insurance Industry Leader - Nividous

Nividous helps in accelerating revenue growth with a unique BPM program for a leading mortgage services provider. It also enabled BPM improvement.

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Premium Calculation Process Automation for an Insurance Industry Leader - Nividous

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  1. Leading Life Insurance Company Modernizes Pricing Model for Liability with Nividous RPA Bots Organization The customer, a leading life insurance company, is present in over 1,000 cities and towns through more than 10,000 points of sale. The company has access to a network of more than 8000 branches and over 50 million customers. Processes automated Premium calculation Customer onboarding using AI and ML Auto-termination pay-outs Mobile automation using WhatsApp Industry Insurance Challenges This client required delivery of enhanced customer experience. The sales process for their Liability Insurance Portfolio involved hours of complex, excel-based premium calculations. The time commitment associated with these calculations prevented precise and rapid customer service, and resulted in lower conversion rates. The Pricing Model BOT is truly a disruptive solution and the first of its kind in the industry. The BOT works in both attended and unattended modes. Based on the early success, we plan to expand the use of the Nividous platform for increased operational speed and agility. Solution Nividous RPA Bots simplified a manual and highly complex end-to-end premium calculation process by automating the dynamic pricing model. The automation platform enabled a service-based architecture, enabling quick and seamless integration with Partner Banks, Mobile Applications, and Core Business Systems. Benefits Director – Operations and IT A Leading Life Insurance Company Nividous platform enabled the customer to successfully launch an entire new product offering. Unlike other RPA Bots, being widely used for the back-office operations, this unique case, as a customer-facing solution, demonstrates a direct positive impact on customer interaction. For more information on how insurers use Nividous platform visit: https://nividous.com/case-studies#insurance 92% 5000 14 80% Quotes per second at peak load Process time reduction Quotes per day Improved data accuracy +91 (22) 2605 4583 www.nividous.com contactus@nividous.com

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