Insurance – Reinsurance Recoveries
This case study portrays how a global insurance company used SolveXia’s automated process to solve its reinsurance recoveries problem.
Client: Insurance company with over 6.5 million policy holders worldwide.
Problem: Need to determine how much money to recover from their reinsurers each month for claims.
Solution: Automated process to compare claims data to reinsurance rules and calculate the amounts to be recovered.
- Initial automation deployed in under 3 months
- End-to-end process in 5 hours
- 70 steps automated
- 25,000+ claims calculated
- Saves 4 days manual work
- Reduces human error
- Reduces key person dependency