Automation of Regulatory Response and Claims Processing

Today, organizations often grapple with the need for swift and efficient regulatory responses while providing seamless claims processing. Such challenges were not unfamiliar to a UK corporate, who sought to navigate these complexities, and they turned to EvoluteIQ.

The Results

Overall reduced error rates

70% Reduction in claims handling team with outsourced BPO provider

Data

GBP 400M Worth of claims processed on the platform since the launch

Quicker turnaround time

4 Weeks MVP launch with full solution launch in 10 weeks

Quote

Accenture prediction

Automation can reduce claims processing times by up to 80%.

EIQ Features Used

The Challenge:
Coping with Regulatory Demands and Customer Expectations

Our client faced a dual challenge: responding effectively to regulatory action and automating the claims processing system for both household and non-household customers. The regulator’s mandate required a comprehensive audit trail for each processed claim, with the utmost priority being the system’s timely availability to customers.

Our Solution:
Streamlined Regulatory Response & Efficient Claims Processing

EvoluteIQ Intelligent Business Automation for Claims Processing

With our EIQ Platform, we deployed an intelligent claims processing solution that systematically validated claims against predefined business rules, utilizing customer and transaction data. This process included an innovative Auto-Resolution mechanism, designed to maximize straight-through processing of claims, streamlining efficiency.

Our solution featured configurable business rules, empowering the system to independently manage online and agent journeys for both household and non-household customers. This flexibility allowed for tailored, efficient processing aligned with specific customer needs and channels.

To further enhance the process, we seamlessly integrated our solution with SAP for payment processing and payment status notification. This integration ensured a cohesive and efficient claims processing system that met both regulatory requirements and customer expectations.

Are you ready to transform how your business operates?

Scroll to Top

This website uses cookies to ensure you get the best experience on our website. Learn more