A leading carrier with several subsidiary companies and lines of businesses used multiple systems to manage policy and claims data. As the data wasn’t standardized on a common platform, it became difficult to compare financial performance across subsidiaries.
As growth outpaced legacy system capabilities, it became clear that they needed a robust solution to manage all their systems, products, and processes. Specifically, data from myriad sources across the globe needed to be processed and analyzed in one place to allow for better financial reporting and reconciliation, performance comparison analysis and capital investment, forecasting and decision making.
OZ built an effective digital solution, leveraging robotic process automation (RPA) to collect unstructured contract entry data and facilitate the integration, standardization, and delivery of enterprise data from multiple sources. Once in place, the team analyzed the data to uncover opportunities for process optimization and enable centralized reporting and decision making across all operating units.
Key elements of this solution included:
By combining timely, accurate data with advanced analytics, this carrier transformed its financial forecasting and improved reporting across all business units.
Additionally:
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