Case Study
Life Insurance provider processes 40k applications annually with reporting automation
Results
4FTEs
4 FTEs saved annually
Better
Eliminate manual cut and paste errors
Speed
Faster delivery of data to underwriting
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
Error-prone manual processing
This insurer uses an online eApp form to take requests for new insurance coverage. While the form data is loaded automatically into the case management system, the operations team still needs to manually enter the application data into multiple legacy policy admin platforms.
This process was inefficient and prone to human error. Leadership sought a fast, accurate, and easy to deploy solution for processing application submissions.
Solution
Automated application processing
The WonderBotz automation solution eliminates manual data entry between case management and insurance policy admin platforms. It monitors work queues for new policies and extracts and uses business rules to transform policy application data (e.g., type, payment plan, address). Then the information is loaded into the target admin platform for underwriting. Management information reports are generated for completed cases, exceptions, and policy statistics.
The solution eliminated errors caused by manual processing. It processes 40,000 applications annually, which allowed 4 FTEs to be redirected to higher priority tasks.
Related Stories
NonprofitTrade union federation boosts capture accuracy 20% via mailroom modernization20% Increased data capture accuracy by 20%
Cross-IndustryAutomation standardizes global operations reporting process for managers at over 5000 locations250+ 250+ hotel codes processed weekly
HealthcareHealthcare Provider Automates Hospice In-hospital Patient Onboarding6K+hrs 6,200+ physician and nurse hours saved annually
Banking & FinanceAutomating KYC data gathering to streamline account opening processSpeed Improved SLA performanceReady for your own case study?
Speak with a WonderBotz automation specialist about your document-heavy or manual-intensive process.