Insurance – Collections processing
This case study examines how an Australian-based specialist risk insurance company used SolveXia’s automated process to solve its collections processing issue.
Client: Australian-based specialist risk insurance business with a market cap of $113 billion.
Problem: Needed to create a list of unpaid premiums to resubmit for payment collections that was a time consuming, repetitive and prone to error task.
Solution: Created an automated process that generates the individual reports and emails them to the corresponding cost centre head.
- Time reduced from 2 hours to ~10 minutes
- Over a 100 manual steps automated
- 2 staff members previously performed manual process so saved 4 hours a day
- No manual errors, all unpaid polices are processed
- Clear visibility over status of all payments