The Lab’s patented Nano-Scale Standardization™ methodology helps a leading insurer supercharge their automation initiative with robotic process automation or RPA, achieving breakthrough gains in agent sales, operating productivity, and policyholder experience.
The executives of this top-quartile-performing insurer routinely invested aggressively in information technology (IT), seeking two objectives:
After several years of costly, lengthy upgrades to the core system, claims processing, the CRM application, and others, productivity rates and operating leverage ratios were unchanged, even slightly lower. Executives launched an RPA initiative, but two years later, only 19 bots were operational, and the benefits were insignificant. The insurer was experiencing the infamous “productivity paradox”: Despite more investment in IT, worker productivity remained flat.
The devil was in the details: “nano-scale” activities—often at the line-item or keystroke level—that added up to 30 percent of employees’ days spent on corrections, rework, and searches:
As a result:
The Lab uses a two-phased approach to harness the power of Nano-Scale Standardization.
For this insurer, first we rapidly analyzed and mapped end-to-end operational work activities, keystrokes, and data elements across their sales/quotation, application processing, and underwriting operations. It sounds impossible—and it is… without The Lab’s own, in-house RPA business-process-mapping bots.
Next, The Lab applied our standardization templates, reducing work activities and data elements to the lowest common denominator. This Phase One business process analysis and “automation candidate discovery” generated a prioritized “shopping list” of 150-plus RPA use-cases.
In the second phase, we helped to implement it all. And The Lab provided ongoing support for bot maintenance, operations, and RPA client development capability.
Sure, robotic process automation or RPA delivers blazing processing speed and massive productivity gains. But The Lab’s patented Nano-Scale Standardization stunned management with immediate gains in performance and capacity, before any new technology deployment.
During The Lab’s engagement—the two phases spanned just seven months—we mapped all major business processes and customer journeys, end-to-end—covering over 85 percent of employee work activities. Once mapped, we helped radically improve the insurer’s perception and performance, targeting:
—all of which were prerequisites for the subsequent intelligent automation implementation in Phase Two.
The Lab identified, configured, installed, and launched an initial wave of 20 RPA “bots,” all developed and project managed from our U.S. offices in Houston. Nothing is ever outsourced, offshored, or performed by contractors.
Highlights include:
Next, a series of RPA bots was developed to scan and detect “not-in-good-order” application data. These bots logged the errors in a queue and automatically sent notifications to both applicants and agents with specific instructions for fixing them.
The best way to see how The Lab provides all of this insurance standardization and automation firepower—remotely, no less—is to schedule your complimentary, zero-obligation 30-minute screen-sharing demo. You’ll learn more about The Lab’s proven and patented Nano-Scale Standardization methodology…see real insurance process maps and business intelligence visualizations…and witness actual insurance RPA bots in action.
Simply contact The Lab today at (201) 526-1200 or email us at info@thelabconsulting.com to book your free screen-share demo today.
For 2021: We have updated our insurance client offering. Much of these findings and implementation results can be reviewed in the 4-part-series of “Big Rocks for Insurance” below. Find out how to strategically lower costs, increase operating leverage, improve customer experience, and automate what previously wasn’t automatable in your insurance company.
