Empowering Household and Non-Household Customers: EvoluteIQ's Approach to 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

[Sassy_Social_Share]

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.

EIQ for Enterprises

EIQ is the only integrated, low-code/no-code platform for fully intelligent business automation, driving transformation at scale across the Enterprise.

Ensure frictionless enterprise-wide interactions

Business Impact Delivered

Grow Revenues by 40%

Lower customer acquisition costs and operational expenses, raise conversion rates with minimal upfront investments

Improve Operational Efficiency by 74%

Improve overall efficiency due to process automation and quicker TAT (Turn Around Time) and AHT (Average Handle Time)

Strong Built-In Governance

Empower Workforce by 73%

Grow employee satisfaction rate through intelligent incentivization and foster productivity and time “given back” to the teams

Improve Customer Experience by 60%

Elevate customer satisfaction via efficient preventive maintenance and fewer query discrepancies

Enhance Asset Utilization by 30%

Achieve a reduction in inventory to gain equal or better customer demand with the existing supply

Strong Built-In Governance

Boost Security by 95%

Cut down data integrity issues across systems with predictive & preventive analytics

Endorsed by Global Leaders

Learn How Our Clients Have Gained Value from the EIQ Platform

Kickstart Your Experience with EIQ

Start your journey as an EIQ partner today