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Nividous Casestudy An Insurance Brokerage Firm Automates Policy Management and Review Process with Nividous Smart Bots

The customer is a total insurance and risk solution provider. The company is committed to providing value to its customers by understanding their insurance needs and risk profile and delivering innovative, cost-effective, customized solutions to ensure total customer satisfaction.

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Nividous Casestudy An Insurance Brokerage Firm Automates Policy Management and Review Process with Nividous Smart Bots

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  1. An Insurance Brokerage Firm Automates Policy Management and Review Process with Nividous Smart Bots Organization The customer is a total insurance and risk solution provider. The company is committed to providing value to its customers by understanding their insurance needs and risk profile and delivering innovative, cost-effective, customized solutions to ensure total customer satisfaction. Processes automated Policy data extraction Policy data review with an intuitive interface Industry Insurance Challenges A deep connection with the end-customers and an ability to address their evolving needs have been the key to the customer’s growth and success. The customer was keen on adopting automation technologies which could help in transforming its back-office operations and addressing its customers’ needs effectively. The management decided to jump-start their automation initiatives using Nividous RPA technology. Out of several processes that required ‘Swivel Chair’ operations, policy management tasks were identified as the best fit for the RPA-enabled automation. The manual activities were causing a massive backlog, low productivity, and high process turnaround time. The customer saw an immediate opportunity to realize ROI within weeks by saving a significant amount of time and effort of their staff using automation. The automation could serve as the best tool to free up their highly valued resources from time-intensive work, allowing them to focus more on end-customers’ needs. Our considerable amount of time on document entry. Nividous RPA Bots with machine learning and computer vision automate management tasks and review processes with 100% accuracy, resulting in 70% reduction in process handling time. staff was spending a review and data capabilities several could policy We are glad that our staff can now work at peak efficiency. Head- Operations A Leading Insurance Broking Firm Solution Nividous RPA Bots with advanced Computer Vision and Machine Learning capabilities were deployed to automate the complete process of policy data extraction and review. An advanced Bot-Human orchestration capability of Nividous RPA and Nividous RPA Control Center dashboard with auto-generated visual statistics empowered the customer to connect the dots and enhance process visibility effectively. For more information on how insurers use Nividous RPA visit: https://nividous.com/case-studies#insurance Benefits 60% 85% 70% 100% Reduction in process handling time Reduction in human errors Increase in productivity Data accuracy +91 (22) 2605 4583 www.nividous.com contactus@nividous.com

  2. Automated Data Extraction With advanced Computer Vision and Machine Learning capabilities, the Bots could intelligently extract required information from the policy, and update that into an internal system. Intuitive, Assisted Data Review Task: Review Policy Insurance Details Status: Active Diagram Comments Task Form Attachments Insurance Policy Details Data Fields 1/1 Car Reg No. GU5686ADCV The details of the records shown as per NR access policy. [Status Last Replicated on 2016-09-01 00:00:00] This Vehicle in Registered in NAGPUR (EAST), Maharashtra Vehicle Details REGISTRATION NO: GU5686ADCV Engine No. 58JOC85A4 Bundled Documents on Policy Records 58JOC85A4 Engine No.: Classis No. Chassis No.: Vehicle Class: Motor Car 2N3J45H6ONJS 2N3J45H6ONJS 30-SEP-2011 SALOON Fitness Upto: 29-Sep-2026 Registration dt.: Docker: N/A Body Type: Manufacturer Owner Sr.No.: 0 Manufacturer: JOHN DOE INDIA JOHN DOE INDIA Maker Model: PAUL MOLIVE Owner Details: Intuitive Interface for Human Review Advanced Nividous RPA allowed the creation of a human task for users to review extracted details The user review tasks had a very intuitive split-screen view to check and correct the extracted data quickly: Obtained data was highlighted in BLUE in the PDF document on the left; tabbing highlights the corresponding data cells on the right Data with a lower OCR confidence level was highlighted in RED for special attention Bot-Human orchestration capability of Once the review was completed, the process could update an internal system with the final data Empowerment through Accuracy and Data Visibility Nividous RPA Control Center dashboard with auto-generated visual statistics showed: Auto-generated drill-down reports allowed: Accuracy by document type Accuracy by an Insurance provider Drill down from dashboard into detailed report view and customizing the report as required Accuracy by document type Accuracy by Insurance provider 110 Insurance Provider (%) 99 66 MS Insurance Bajaj Allianz 44 22 0 TATA AIG Insurance IFFCO - Tokio Digital PDF Scanned Document Accuracy (%) +91 (22) 2605 4583 www.nividous.com contactus@nividous.com

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