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Back Industry: Insurance

Speedy claims processing for small commercial business

COVID-19 Challenge

A surge in small business loss claims creates processing backlog

Claims First Notice of Loss: many small business customers were raising claims and notifying losses due to the current COVID-19 pandemic. Operating capacity constraint overwhelmed back office operations.

Solution

Five bots have been leveraged to reduce overhead of claims adjudicators allowing back offices to focus on claims processing. Bots were developed and deployed in 40 hours to create a claim, generate and send the acknowledgement letter to the insured. Started handling 200–250 transactions per day right at the peak of lockdown. All COVID-19 First Notice of Loss related transactions were handled by the bot there by avoiding any delayed resolutions, which would have impacted customer satisfaction.