Asia Capital Reinsurance: Testimonial
ACR is an Asia-rooted non-life reinsurance run-off consolidator that is a part of international group, Catalina Holdings (Bermuda) Ltd. ACR is ranked among the world’s top 50 reinsurers. ACR is one of the noted local players for reinsurance in the regional reinsurance market.
At the heart of ACR’s business is Claims processing and ultimately delivering on the promise we make to pay valid claims expeditiously to our clients. The claims environment is therefore deeply reliant on process speed and accuracy to meet our own and our business partner’s demands. Due to this and because these processes involve multiple layers of administrative and customer service functions, intensive manual and laborious, time-consuming and heavily repetitive data entries, RPA was identified as a perfectly-suited technological innovation for our strategic business needs.
Gleematic offered a simple tool (with simple costing)… Based on cost, efficiency, functionality and additional considerations, we ultimately opted to purchase licenses from Gleematic then started the learning journey in 2018.
- More than 100 Man Days+ (or 4months+) saved in a year… and counting!!
- Processed more than 9,000+ claims transactions!
- More than 4,500 SLA (Service Level Agreements) & document filing requests
- ~10 minutes saved via each SLA request.
- ~2 minutes saved for each filing request.
Stages In Project
ACR team started small and carried out a PoC (Proof of Concept) before scaling up.
Phase 1 was to identify the benefits of using automation to handle claims-processing.
Phase 2 was to set measurable objectives to track the progress of the automation project.
Phase 3 was to communicate the purpose of this project, which is mainly to handle increase in claim volumes during natural disasters.
Phase 4 was to access the feasibility, carry out a POC using a single broker, before multiplying to others.
Following vendor submissions, mapping potential ‘pain points’ and proof of concepts being assessed, ACR concluded that much of the initial setup, development and future maintenance could comfortably be proactively and effectively managed and handled by their own in-house IT team. The ‘Project Angela’ team (using Gleematic) consisted of both Claims and IT staff. Together, ACR began the continuous journey to develop “Angela” whilst at the same time understanding the wider overall, overarching claims process & procedures.
Quote from ACR: “A fantastic example of collaboration between IT & Claims working together side-by-side to successfully design, test and implement a successful innovation… “Angela”. This is proof that a much more efficient method of booking payments and delivering better solutions is possible. This has already and will lead to further positive financial results from the team’s combined contributions. Working smarter, not harder with many ways of innovating in our business.”
This project started with an exploration of the capabilities of Gleematic and potential to provide an innovative solution suiting a real business need within ACR’s Claims team. There was a need to balance both the IT & Claims team’s time invested in the project throughout, with no one individual spending all of their time working solely on “Angela” (automation bot built with Gleematic) alone.
Priorities & Prioritisation
All those involved still had other key roles to fulfil and therefore had to juggle progression of this project and the inherent demands, whilst still maintaining all of their regular tasks, plus support of the business as usual in their respective roles.
Trial & Error
ACR team took the “Win or Learn” approach. Where they didn’t achieve the desired outcome immediately, they learnt many lessons, made refinements, improved and continued along the planned path together. Regular meetings and good communication assisted to keep progress on the project flowing and everyone involved both focused and engaged.
The team-members (made up of ACR staff from IT and Claims) did not give up when they encounter challenges. Planning, effective collaboration and strong teamwork allowed them to come together, adapt to and overcome whatever issues or complications faced along the way.