Lower attrition leads to better performance at Asia’s largest insurance company
The Hong Kong office of the largest insurance groups in Asia Pacific providing insurance services, retirement planning and wealth management.
As an insurance company of 20,000 agents dealing with heavy amounts of data, RPA was needed to help ease the stress caused by the amount of repetitive, clerical work, as well as reduce the number of costly errors. Junior staff were tasked with completing manual work that often resulted in mistakes. This trickled down as additional work for their supervisors, having to do multiple checks to review sensitive information and ensure accuracy. This led to high turnover, resulting in a huge cost to the company having to rehire and retrain.
of Manual processes automated
Decrease in cyle time
“RPA can really increase the accuracy and reduce the processing time. These are the benefits we have.”
— Associate Director
After proof of concepts were created for the three main RPA providers, Automation Anywhere was chosen because of their user-friendly tools and rich control functionalities for IT governance.
THE WHOLE STORY
After automation was implemented, turn-around time for work processes decreased by 50% with 100% error-free outcomes. 80% of manual processes have been automated. RPA has become a useful tool to complete daily routine tasks. Departments using RPA include HR, Finance Operations and Reporting, Partner Distribution Bank Agent Onboarding, Compliance, and the Agency Department.
The company targets to have 80% reduction in process time when a bot is running smoothly after three months of being in the production environment.
The company is looking to integrate its current RPA tools with other AI products such as Chatbot, Analytics and machine learning. Most departments already have an Automation Anywhere footprint and want to adopt Bot Insight and IQ Bot next.
“We can solve an RPA issue in a much shorter time with the help of Automation Anywhere. The turnaround time is much improved.”
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