Insurance

Insurance - Collections processing

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Client

Australian-based specialist risk insurance business with a market cap of $113 billion.

Problem

Needed to create a list of unpaid premiums for resubmitting payment collections which was a time consuming, repetitive and prone to error task.Solution

Solution

Created an automated process that generates the individual reports and emails them to the corresponding cost centre head.

This case study examines how an Australian-based specialist risk insurance company used SolveXia's automated process to solve its collections processing issue.

Key metrics:

  • 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

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