KPMG helped a global insurance company develop a solid intelligent automation road map that included automating core business processes.
In such a rapidly changing marketplace, this insurance company launched a massive transformation to lower costs and also improve quality and efficiency. Executives focused on efficiency in order to remain competitive in its current businesses while also pursuing new markets.
In early 2017, they launched a bold approach to use intelligent automation to support one of the company’s business lines as well as corporate and administrative back-office processes. The goal was to better engage employees and customers while also lowering costs.
In only four months, the company had a solid intelligent automation roadmap that included automating core business processes such as customer form requests and back-office processes such as Salesforce gatekeeping and sanctions screening. By automating these processes, company leaders expect to:
The KPMG team started working with the client in 2017 by identifying processes to improve and potentially automate. The team evaluated processes across this business line as well as corporate and administrative functions including human resources, legal and procurement.
This company is in the midst of a significant, long-term transformation. That’s where the KPMG team came in. Using industry and domain experience coupled with knowledge of intelligent automation – robotic process automation, machine learning and natural language processing – and KPMG’s broad partner ecosystem, the skilled collaborative team is helping the company pick up speed on its automation journey.
This company’s executives are fully engaged in the transformation and focused on prioritizing processes and using the right technologies that will deliver the best possible business results. They are using a combination of robotic process automation, machine learning and cognitive technologies, depending on the process. The team is also using process and organizational change as well as digitizing data on the front end to improve even more.
We agreed with our client to a gain share fee structure for a portion of the work. The shared risk and reward is based on achieving or exceeding certain business benefits such as cost reduction and reducing call times.
KPMG complies with the auditor independence rules of the AICPA, SEC, PCAOB and DOL. As a result, some services described herein may not be available to our audit clients. KPMG audit clients should check with their respective lead audit partner for more information.