Case Study: Skan AI Helps F50 P&C Carrier Save $12M Annually

Client

The client is a Fortune 100 Property and Casualty (P&C) insurance carrier with a strong global presence. They provide comprehensive insurance products and services, including commercial claims and renewals, mostly regarding the sale, maintenance, repair and recovery of vehicles and associated goods like fuel and parts. The organization employs over 50,000 people and is renowned for its focus on operational excellence and customer experience.

The client’s renewals processing business unit, headquartered in Europe, handles a high volume of complex transactions annually. Their operations are critical to maintaining customer relationships, ensuring policy retention, and achieving growth objectives.

Identifying Process Gaps

As a leader in their industry, the client strove to maximize efficiency and customer satisfaction by optimizing certain processes. They had tried to work with other process mining platforms before, but found those options failed to meet their goals. They had 4 top issues they wanted to address in their pursuit of:

High Deviation from Standard Operating Procedures (SOPs): Frequent process deviations led to inconsistent outcomes and increased costs.
Rework and Duplication of Effort: Manual interventions and redundant steps caused delays and inefficiencies.
Manual and Repetitive Tasks: Labor-intensive processes consumed valuable employee time and reduced focus on value-adding activities.
Limited Visibility: The incumbent process mining solution could only observe ~15% activities within two core applications.

Objectives

This global provider sought to harness the latest innovations in technology to address these issues and deliver even better service to their buyers. After partnering with Skan AI, the client’s Head of Operations collaborated with the Business Simplification Practice Leader and the Chief Transformation Officer to set clear objectives:

Solution

Skan AI’s process intelligence platform provided transformative solutions:

Comprehensive Process Observation:
1. Expanded visibility from two applications to 22, providing a holistic view of the renewals process.
Process Simplification:
1. Identified and eliminated non-value-added activities, reducing manual touchpoints and streamlining workflows.
Automation and Right-Shoring:
1. Implemented automation for repetitive tasks and optimized routing assignments, decreasing processing time and enhancing efficiency.
Rework Analysis:
1. Pinpointed consistent rework bottlenecks and provided actionable insights for process standardization.

Key Benefits

The collaboration between the client and Skan AI delivered remarkable results:

Outcome

The Skan AI platform empowered the client to transition from limited visibility to a data-driven understanding of their processes, highlight pain points and outline clear actions for achieving target state improvements. With the right innovative partner, this industry leader kickstarted new automation initiatives that directly impacted productivity and customer satisfaction.

Conclusion

This client exemplifies bold industry leadership by embracing cutting-edge technology like Skan AI to drive transformational change. By leveraging advanced process intelligence, they are setting new benchmarks for operational excellence, efficiency, and customer satisfaction. Their innovative approach positions them as a trailblazer in the P&C insurance sector, inspiring others to follow suit.

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Originally posted in the IRPA AI Network — Enterprise AI