Life and Annuities Client


Client is one of the largest Financial companies covering financial, retirement, investment and insurance products based in New York.

Client Challenges

  • Seasonal peaks and shorter turnaround time
  • Non-standard request formats/forms
  • Highly manual data – entry work. High accuracy required
  • Employees require training on different systems and various versions of forms, resource dependencies
  • Breakage Impact in case of delayed processing
  • Complexity is high which includes understanding of the Non standard forms for various companies
  • End customer dis-satisfaction due to incorrect and delayed processing
  • Modification of details on multiple systems/ applications
  • Limitation of the workflow in allocating transactions in bulk
  • Lower productivity due to multiple scenarios
  • Sharing of frequent updates
  • Traditional way of executing the process deliverables

Our Solutions

  • Feasibility analysis performed at Coforge by four internal resources
  • Implemented 2 BOTs covering 5 transaction types
  • Value stream mapping done and re-engineered traditional procedures
  • Suggested changes to client for modifying the request forms
  • Changes suggested to client to modify the workflow application system
  • Script based macros created to execute entry on to the multiple systems
  • Automated work allocation using BOT
  • K-Portal access extended to client for knowledge transmission
  • Frequent calibration session conducted along with regular knowledge assessment tests
  • Created re-engineered “To Be” process maps to reduce the non-value adds

Benefits Delivered

  • Saved 10 FTEs worth of effort
  • Efficiency improved by 35%
  • TAT improved by 50%
  • Implementation of 2 BOT to reduce manual effort for 5 transactions types
  • Quality improved to 99.5%+ from 95%
  • Significant cost savings by reducing the unnecessary papers used in various request forms
  • Less manual intervention
  • Reduced the unrequired multiple hands off in the process
  • More scalable
  • Work allocation improved helping increased utilization
  • Standardization of processes helped in saving significant training time and effort
  • Knowledge level improved for the team using K-Portal
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