This insurer needed to simplify and digitize processes to achieve growth quickly as part of its mantra to be the most customer-centric global company in the industry. Learn how ISG introduced and scaled robotic process automation (RPA) company-wide to achieve the company’s strategic goals.
Opportunity
A leading international financial services and insurance company needed to simplify and digitize processes to position itself for efficient growth as part of its mantra to be the most digital, customer-centric global company in the industry. It was also was under pressure to reduce costs, improve operating efficiencies and increase profitability with an eye on the bottom line. It had several key pain points that it hoped automation might moderate, such as huge amounts of returned mail and address changes handled manually. In addition, it desired to increase services without increasing staff.
New to automation in 2017, the company engaged ISG to assess the feasibility of automation across various business units as a first step. During this phase and subsequent phases, it was clear that automation could be a key strategy to achieving the company’s goals.
New to automation in 2017, the company engaged ISG to assess the feasibility of automation across various business units as a first step. During this phase and subsequent phases, it was clear that automation could be a key strategy to achieving the company’s goals.
Imagining IT Differently
The results of conducting the initial assessments found that leveraging automation could have significant positive impact to the bottom line as well as employee and customer satisfaction. Using the information collaboratively discovered, ISG recommended following its automation life cycle to quickly select and install the software, establish an IT strategy for scaling up front, training both developers and CoE staff, and building and deploying over 50 automations in less than 18 months
ISG advised and supported the client through a comprehensive and end to end automation initiative that resolved technology challenges and quickly implemented RPA/Automations. Additionally, ISG addressed operational effectiveness with process standardization and implemented global governance by helping the company establish an automation Center of Excellence to manage both the internal and external processes and automating appropriate functions.
ISG advised and supported the client through a comprehensive and end to end automation initiative that resolved technology challenges and quickly implemented RPA/Automations. Additionally, ISG addressed operational effectiveness with process standardization and implemented global governance by helping the company establish an automation Center of Excellence to manage both the internal and external processes and automating appropriate functions.
Future Made Possible
The long-term implementation was enabled by ISG at every turn. Just some of the benefits:
- ISG built over 30 automations using our hybrid and off-shore models; one automation gave over 5 FTE’s worth of hours back to the business; today the client has built over 200
- Automations reduced processing time above an average of 60%-90% and reduced errors by 90%
- Conducted over 20 training classes ranging from Beginner to intermediate to automation life cycle to COE Lead to control room / hardening across North America
- CoE established using central model but grew into federated model. ISG’s 400+ page guidebook led the way for accelerated automation journey. Established control, consistency and governance over pipeline, backlog and set everyone’s expectations.
With ISG’s expertise and experienced “polished practitioners,” the company was able to become an “Automation First” company in less than 18 months and has continued the partnership through today with additional bot building and support.
