Real World Examples of Proven BPM Success:

An Ultimus Customer Success Story

Adriatic Slovenica Automates Insurance Policy Claims and Decreases Processing Time by 50%

business process management for insuranceBackground

Ultimus Customer: Adriatic Slovenica
Industry: Insurance
Solution: Insurance Policy Processing Automation

Adriatic Slovenica is the second largest insurance company in Slovenia and also the only one who offers a full range of solutions from every insurance group including property, health, life and non-life, and pension insurances. Considering customer orientation in your company while planning a BPM initiative, is one of the pre-conditions that makes for a more competitive business model. With a strategic approach and IT solution, it is possible to improve every business process. Because it’s Adriatic Slovenica's mission to stand by their clients and exceed their expectations by providing new dimensions of security with transparent services, they needed a business process management solution that took customer orientation and competitive advantage into play. These two principals were carefully considered when looking into BPM, which led them to choosing Ultimus as their solution provider.

Opportunities

Since Adriatic Slovenica offers such a broad range of insurance solutions and services to their customers, they process hundreds of insurance policy documents a day. This requires a tremendous amount of data collection and the management of compliance requirements with extensive security guidelines for that data. Ultimus‘ discovery and analysis of Adriatic’s operations determined that automating insurance policy processing would result in the highest potential of possible benefits for the business, which would create a faster and more efficient way to handle insurance policy processing.

Solution Overview

After implementation of the Ultimus Adaptive BPM Suite, the automated insurance policy processing solution begins as soon as the insurance policy and related documentation are scanned into the system. The assignment of tasks to the policy processing clerks is then automatically performed, which takes into account certain predefined business rules so that the tasks are assigned to the right people. Compared to the previous manual way, work procedures are now significantly simplified with the implementation of Ultimus. Employees of Adriatic Slovenica can now also use a single application with a common user interface to receive and complete all tasks and easily access all relevant information or documentation. The insight into an individual insurance policy, accompanying documentation, and the status of policy processing, is now instantaneous and independent from the clerk's location.

Results

In this Ultimus BPM solution, Adriatic Slovenica has produced excellent results by automating insurance policy processing. The dynamic task assignment and uniform access to all information (process information, data from back end systems and documentation) through a single Web user interface have shortened the total amount of time needed to process an insurance policy by 50%, from four to two working days, at the workload of around 1,400 policies per day.

Adriatic Slovenica employees can now be involved in additional process activities and accept tasks with a higher added value for the insurance company. Manual work such as forwarding paper documentation, searching for data in various back end systems, and seeking responsible individuals for particular insurance policy products, has been completely eliminated. Adriatic customers also value the benefits of the new way of doing business as their insurance policies are now processed faster, and the information given by the insurance company is more accurate.

With Ultimus, Adriatic Slovenica achieved their goals in no time while increasing the efficiency of the business and improving satisfaction of the customers, employees and management.

About Adriatic Slovenica

Adriatic Slovenica Insurance Company is the second largest Slovenian insurance company and also the only one who assumes risks from insurance groups all property, health, life and pension insurance. It was formed in 2005 and is considered to be a contemporary insurance company, based on ethic and professional principles, which enable its fast and efficient development and its striving for excellence in providing insurance and financial services.

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Challenges

  • Adriatic Slovenica needed to exceed customers' expectations to gain a competitive advantage in the industry
  • Processing hundreds of insurance policy documents a day is very time-consuming
  • Processing requires a large amount of data collection and the management of compliance requirements with extensive security guidelines

Solutions

  • Implementation of Ultimus to automate insurance policy processing 
  • Predefined business rules ensures tasks are assigned to the right people
  • A single application with a common user interface receives and completes all tasks and easily accesses all relevant information or documentation

Successes

  • Processing time was decreased by 50%, from four to two working days, at the workload of around 1,400 policies per day
  • Tasks are streamlined and business is more efficient
  • Less manual work for employees
  • Increased satisfaction of customers and partners