Case Study
Insurer reviews thousands of state records to locate policyholders
Results
200hrs
200 resource hours saved
Speed
Reduced SLAs
Better
Improved accuracy of processing
Company Profile
Major North American religious-affinity fraternal benefit society, provides life insurance, annuities, long-term care, and disability income exclusively to its members and their families through a captive agent force. Tens of billions in life insurance in force, top-tier A.M. Best ‘Superior’ rating, and recognized for industry-leading ethics. Members contribute hundreds of millions annually to charitable causes.
Challenge
Each month the claims department reviewed a series of insurance verification reports published by the Department of Financial Services to determine if any records contained policyholders within the company. Multiple resources examined thousands of records within the information to locate policyholders and confirmed client details in internal systems. This was a time-consuming and error-prone process. CoE leaders sought a solution that could accurately and quickly look up policyholders.
Solution
Optimizing the process, the claims team downloads the report as an Excel file and saves it to a secured folder. The solution retrieves the file, then performs a client search in the Insurer’s back office systems to identify records containing existing policyholders. Based on configurable business rules, the automation updates the Excel file to indicate it found a match and emails the processing team for them to the official records after reviewing the findings.
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