Saving time by robotising data processing
By applying “robotic process automation”, an insurance company has saved a lot of time in performing standard analyses.
What was the problem?
An insurance company has a lot of different business units, each with its own bookkeeping and analysis of the figures. Even though a lot of work has already been automated, recurring manual operations are still required to produce the financial reports for each period. These operations take a lot of time and do not add any value.
So what was the solution?
In actual practice, three quarters of the insurance company's reports were drawn up by means of standard checks and analyses. Working with the client, PwC discovered effective ways to carry out the actions required to produce the reports using robotic process automation (RPA). The RPA program works on existing software and can analyse large amounts of data in just a few seconds.
The analysis methods for use by controllers have been programmed into the RPA software by PwC’s specialists. This means that the software can take over some of the tasks from the controller. To quickly demonstrate that RPA works, we have started with a proof of concept within one of the business units. Implementation of RPA will follow later within the existing infrastructure of that business unit and perhaps within other business units of the insurance company.
What was the result?
By applying robotic process automation, the insurance company has saved a great deal of time when collecting and processing data, creating reports and performing standard analyses. In addition, no more errors are made in creating the reports. The starting point for the controller is a report that includes analyses to which specific business knowhow, actions, or recommendations can be added. This means that controllers can produce more added value and have more time to be an effective business partner.
