Case Study
Commercial P&C carrier speeds FNOL to reduce costs and improve throughput time
Results
30%
30% of FNOL claims registered with automation
75%
75% reduction in FNOL receipt-to-registration unit cost
Speed
Improved throughput time for improved adherence to SLAs
Company Profile
Long-established specialty engineering and technical risk insurer, provides equipment-breakdown coverage, inspection services, and engineering consulting for industrial and commercial clients. Subsidiary of one of the world’s largest global reinsurers, providing balance-sheet scale and underwriting depth for specialty technical-risk lines.
Challenge
Manual FNOL processing
This commercial insurer has tight SLA commitments for handling policyholder first notice of loss (FNOL) claims. They accept claims through various channels including web form, emailed PDF/Word document, via fax, or a call to a service center.
Their existing process was entirely manual and prone to missing SLA deadlines. Management sought a solution that could efficiently ingest items into the queue, immediately register claims in good order and identify claims not-in-good-order sooner for SLA-preserving intervention.
Solution
Automated validation of FNOL claims
The WonderBotz automation monitors the Guidewire work queue for newly ingested FNOL claims and takes ownership of them. It reviews and validates submitted claims, confirms that it is not a duplicate claim, and determines whether or not the policy is verified. Then, it registers each claim to the appropriate Guidewire workflow and to the appropriate triage team. For claims not-in-good-order (NIGO), it attempts to correct it through data validation and cleansing rules before redirecting the NIGO claim to the team for manual intervention.
The solution enabled 30% of new claims to be ingested without any human intervention. It also improved adherence to SLAs and decreased the FNOL receipt-to-registration unit cost by 75%.
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