Lev Ins AD, 12th of Top 100 largest insurers in Southeast Europe, is a leading insurance company in Bulgaria. It is a part of a financial group operating in the field of general insurance, life insurance, health insurance and secondary retirement provision. The sustainable development of ZK LEV INS AD is due to the proactive risk management approach by applying the philosophy of the „Active Corporate Security”.
Challenge
Lev Ins brokers traditionally physically delivered policies, invoices, and payment records, which were manually processed by the front office and accounting teams. The process included a two-day delay to verify funds, causing inefficiencies and increasing the risk of errors. That was the very reason Lev Ins reached out to Robotiq.ai.
Solution
Robotiq.ai digital workers automated data extraction, validation, and reconciliation, thus eliminating manual steps and speeding up the entire process. The automation cut down processing times, reduced errors, and streamlined the workflow from document submission to fund verification. The two days are now calculated in hours so customer satisfaction as well as brokers’ happiness increased exponentially.
Key Metrics
- Processing Time: Reduced from days to hours.
- Error Rate: Significant reduction in manual data entry mistakes.
- Throughput: Increased volume of reports processed.
- Cost savings: Lowered operational costs through reduced manual work.
Systems Involved
INSIS insurance management system, MS Office and OCR were integrated with RPA to ensure seamless automation across the workflow.