How to Simply Insurance Workflows with Intelligent Automation

November 15, 2017 by Jeanette Sherman

Optimizing and automating workflows is a big priority for insurers — and a major driver of digitization initiatives. According to the Harvard Business Review, “a well-designed digitization program can deliver up to 65 percent in cost reduction and a 90 percent reduction in turnaround time on key insurance processes.”

For many insurers, digitization processes now work relatively smoothly when applicant or customer information is in good order and every form has been filled in completely.  But add in a form with NIGO (Not In Good Order) data, or omit a necessary component of an application ...and processes hit a snag.

Mistakes Make Mountains Out of Molehills

Captricity has spent years talking to insurers about their pain points and problems with the digitization process, and lately, we’ve heard that one of the biggest problems is that mistakes multiply work exponentially.

For instance, at one major US insurer, a typical form being processed requires 3-4 steps.  However, if mandatory form fields are missing or incorrect, the form enters Not In Good Order status — and will take 20 or more steps to resolve.  Many of these steps require human intelligence and prioritization, slowing down processing and negatively impacting overall customer experience.

If only a few forms were out of order, this might not impact many customers. The truth is, though, that around half of handwritten paper forms — and 70-90% of the most difficult or confusing forms — contain at least some data that renders the form Not In Good Order.

The result: many streamlined digitization projects don’t return the expected ROI, because only a fraction of customer data can enter straight-through processing.  Everything else lands in an exception queue, where case managers and others spend time and money (approximately $300 per NIGO form on average) repairing bad data.

Automating the Exception Handling Process

The biggest obstacle to streamlining processing of NIGO forms is that for many data repair tasks, there’s just no substitute for human judgment.  In a split second, human intelligence can make determinations about a form field’s validity and how to best repair a given form field — but automation requires a set of constant, unchanging rules, and doesn’t do well with ambiguity or judgment calls.

That’s why intelligent automation is critical to simplifying exception handling workflows.  With intelligent automation, tasks are automatically divided to empower a best-of-both-worlds approach, allowing humans and automated processes to do what they do best.

Captricity’s newest innovation, CaseCorrect, was developed in conjunction with MetLife to solve exception handling problems with intelligent automation.  With CaseCorrect, NIGO data and form handling exceptions are diagnosed automatically.  

Then, form fields that violate business rules are sent to a streamlined exception handling queue. This queue can forward incorrect or missing form fields to case managers, agents, or even customers — depending on who is most likely to be able to repair the data.

CaseCorrect’s easy-to-use interface shows any invalid form data entered, the reason it created an exception to normal workflow processes, and the original form from which the data was extracted.  This puts everything needed for data repair onto a user-friendly single screen.

With all needed data at the fingertips of your case managers or agents, repairing NIGO forms can be a fast, easy process.  At MetLife, forms processing time was reduced by 55% when using CaseCorrect — a time savings that translates directly into lower cost and better customer experience.

Take Digitization To The Next Level

Ready to say goodbye to old-fashioned manual exception handling processes?  Captricity can help you implement an automated, digital solution to create a faster, simpler process — without sacrificing data accuracy or quality.

Visit captricity.com/resources to learn more about our intelligent automation solutions, or call (510) 876-9323 to talk to a Captricity representative today.

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