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A leading general insurance provider automates policy payments reconciliation Case Study
Case Study

A leading general insurance provider automates policy payments reconciliation

Client

One of the leading general insurance providers

Industry

Insurance

Region

India
A leading general insurance provider automates policy payments reconciliation Case Study

Challenges

The insurance provider received policy payment reports from multiple sources including third parties, which needed to be reconciled in a timely manner. It was a manual process, which entailed data validation and data massaging prior to reconciliation and involved high overheads and operational costs.

Solution

Datamatics automated policy payment reconciliation using RPA. The bot retrieved bank reports, vendor reports, and internal reports for the reconciliation. In case of payment realization or cheque bounce, the bot appropriately updated the vendor portal or the internal systems.

Download Case Study

Impacts
2/3rd Time savings over manual reconciliation

2/3rd

Time savings over manual reconciliation
99% Achieved higher levels of accuracy

99%

Achieved higher levels of accuracy

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