Reduce Turnaround Time (TAT)

Aiwozo Intelligent Automation suite helps improve back office processes and reduce the turnaround time of processes across the organization. Whether it’s underwriting or endorsements, or processing of claims, Aiwozo eliminates mindless and slow data entry and processing.

• RPA slashed the cycle time of its life insurance claims processing by 40%.
• Error correction for payments reduced by 50%.
• Claims that previously took 20 to 40 minutes now take only 4 minutes.

Aiwozo bots help quickly analyze all sources of data, whether internal or external, to enhance risk analysis. It provides the ability to create accurate pricing models for new product development with the help of Data analytics. Aiwozo helps in transforming underwriting operations:

• Human error is significantly reduced, thereby improving prospect closure.
• Removes data errors that ruin customer experience.
• Reduce turnaround time.
• Digital channels to process document requests faster.

Reduced Cost of Insurance Operations

Aiwozo Bots available on demand to handle volume fluctuations help reduce the cost of processing significantly. Manual processes require to maintain staff for peak volume requirements. Streamlining operations through Aiwozo improves productivity and thereby reduces the cost of operations.

• Insurance companies can save 30% to 50% of operational costs.
• Reduces labor costs hence increasing productivity, higher output, and improved quality.
• Claims handling cost slashed by 34%.

Accelerated Claims Processing

Automating your claims processing helps enhance both your customer and employee experience. Handle high volumes of claims while meeting timelines and accuracy requirements. Analyse data around Claims to better plan for new product generation. Aiwozo Intelligent Automation suite helps insurers to:

• Enhance the reliability of data increases the processing of claims.
• Speed up claims processing by up to 80%.
• Improve customer experience through real-time information sharing.
• Eliminate manual errors in claims processing.

Empower Employees

Insurance operations require employees to be aware of processes and regulatory requirements. It takes extensive training for resources to be able to perform duties, whether it be in underwriting, customer service, or claims processing. Aiwozo helps reduce dependency on employees to perform repetitive manual tasks by:

• Eliminating manual data entry tasks.
• Reducing the manual business processes involved with compliance reporting.
• Providing guidance and prompts for decision-making support.