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Introduction to Automate Insurance Company Process

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1 Introduction to Automate Insurance Company Process
Prepared By:- Global Infoways

2 Advantages of Insurance Process 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. Greater manageability of data. 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 Automated decision-making applications are helping companies accelerate how they turn insight into action Reduce Operation cost Prepared By:- Global Infoways

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

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

5 Automated Activities include:
Sales & Marketing activities Campaign Brochure download Feedback forms 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 Tracking Policies status Maintaining individual Agent records Claims Management and Policy Servicing Commission Payment Processing History and audit trail Keeps track of outstanding receivables Reports Generation Prepared By:- Global Infoways

6 Insurance Order Processing
Quality Check Tracking Fund Clearance Management Centralized Insurance Management Policy Management Customer Relationship Management Commission Payment Processing Claim Management Reports Generation at each level Prepared By:- Global Infoways

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

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