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Introduction to Automate Insurance Company Process.

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Presentation on theme: "Introduction to Automate Insurance Company Process."— Presentation transcript:

1 Introduction to Automate Insurance Company Process

2 2 Advantages of Insurance Process Automation The Work processes become more controlled and measurable through automation. The Work processes become more controlled and measurable through automation. Managers can focus more on managing anticipated workloads and on measuring and improving the overall processes. Managers can focus more on managing anticipated workloads and on measuring and improving the overall processes. Greater manageability of data. Greater manageability of data. Automate manual processes and eliminate the armies of people that had to do routine and mundane tasks Automate manual processes and eliminate the armies of people that had to do routine and mundane tasks Business process can be managed effectively and in optimized manner Business process can be managed effectively and in optimized manner Automated decision-making applications are helping companies accelerate how they turn insight into action Automated decision-making applications are helping companies accelerate how they turn insight into action Reduce Operation cost Reduce Operation cost

3 3 Business Operation A Business Operation can be A Business Operation can be Manual: performed by human(s)Manual: performed by human(s) Semi-automatic: involves both human and systemSemi-automatic: involves both human and system Automatic: performed autonomously by a systemAutomatic: performed autonomously by a system

4 4 Relationship among Concepts Business Process Process Definition Activities Manual ActivityAutomated Activities Workflow Management System Process Instances Activity Instances Work ItemsInvoked Applications (i.e. what is intended to happen ) (A representation of what is intended to happen) (Which are not managed as part of the workflow system) (Controls automated aspects of the business process) (A representation of what is actually happening) (Tasks allocated to a workflow participant) (Computer tools/applications used to support an activity) Used to manage and create Which may be or During execution are represented by Include one or more Which Include And/Or Is defined in a Composed of Sub Processes Is Managed by

5 5 Automated Activities include: Sales & Marketing activities Sales & Marketing activities Campaign Campaign Brochure download Brochure download Feedback forms Feedback forms Insurance Order Processing Insurance Order Processing Verification and Validation of Application Nos and Aspirants details Assigning a unique Application No. to Insurance aspirants Punching of orders Calculating Premium amount Insurance Maintenance Insurance Maintenance Tracking Policies status Tracking Policies status Maintaining individual Agent records Maintaining individual Agent records Claims Management and Policy Servicing Claims Management and Policy Servicing Commission Payment Processing Commission Payment Processing History and audit trail History and audit trail Keeps track of outstanding receivables Keeps track of outstanding receivables Reports Generation Reports Generation

6 6 Centralized Insurance Management Insurance Order Processing Quality Check Tracking Fund Clearance Management Policy Management Customer Relationship Management Commission Payment Processing Claim Management Reports Generation at each level

7 7 Spectrum of Automation Product Introduction Disbursement System Distribution Sales & Marketing Quality Check or Compliance Insurance Application processing Policy Administration Legacy Maintenance Claims Management Information Security & Disaster Recovery Management Data mining & Reporting


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