T+1 Accelerated Settlement: DTCC Proposal…
Through a combination of proprietary methodologies, we leverage our process optimization experience and our automation expertise (Robotics Process Automation, Data Science) to enhance operational excellence and decrease expense ratio.
Through a combination of in-house methodologies, we use our experience in process reengineering and our expertise in automation (Robotics Process Automation, Data Science) to optimize your activities and reduce your cost ratio.
In order to bring maximum value in minimum time, we mainly use the DILO (Day In the Life Of) methodology which is a tactical version of Lean Six Sigma. It focuses on the main bottlenecks in order to establish quick-wins and longer term recommendations. In an organization, the pain points may be known but they are rarely qualified and even less quantified. DILO's key principle is to map and observe tasks in order to quickly come up with simple quantitative metrics for an informed redesign of processes. These are short, high-impact missions.
• For a French direct insurance company, we mapped all back-office mail processes in order to build a quantitative measure of productivity and a clear vision of the bottlenecks. Major areas for improvement were identified in the short and long term in three fields: process, information system and human resources, resulting in a double-digit improvement in processing times for an assignment of less than eight weeks.
• For a French insurance company, we mapped all IT application processes in the Asia region (9 entities) in order to build a quantitative measure of productivity and a clear vision of pain points and best practices. Major areas for improvement were identified in the short and long term in two areas: process and information systems, resulting in a double-digit improvement in processing time for each ticket for an assignment of less than six weeks.
We supplement our process reengineering skills with our automation expertise using Robotics Process Automation to automate simple tasks (e.g. data transfer from one tool to another) or Data Science when the task is complex (e.g. document reading and analysis). Multiple use cases have been deployed across the entire insurance value chain, including claims management, underwriting, risk management, ticketing process...
• For a Singaporean property and casualty insurance company, we made good use of Robotics Process Automation (RPA) and Data Science to automate the end-to-end processing of windscreen claims (repair and replacement), increasing the volume processed without manual intervention from 35% to 95%.
• For a French insurance company we built a bot to analyze incoming emails in order to automate part of the simple requests (inquiries, simple claims, etc.).