Process Automation for Insurance Companies

With the drive towards large-scale digitization of products and services accelerating, insurers should act now to remain competitive, conduct business more efficiently and reduce costs.
Using Camunda, customers in the insurance sector can achieve benefits in excess of $25m over 3 years – an ROI of 389%.

Both established insurers and emerging insurtechs can greatly benefit from revisiting the systems they have in place and replacing outdated platforms with scalable, digital-first solutions. Although very different in the way they operate, both encounter similar challenges that put their business at risk:

  • Outdated legacy systems and homegrown automation software that both aren’t built for scale
  • Lack of visibility and strategic oversight
  • Risk of key processes breaking down
  • Complex regulatory landscape
  • High competitive pressure
  • Growing demand for frictionless customer experiences

Enabling collaboration for better business outcomes

Camunda’s sophisticated process automation solution has proven incredibly beneficial for insurance companies like Generali Switzerland: End-to-end orchestration of human and automated processes saves time and improves efficiency. Thanks to its open architecture and developer-friendly, standards-based approach, choosing Camunda helps ready your business for true digital transformation and encourages deeper collaboration between IT teams and the wider organization.

A trusted partner

Camunda customers like Allianz, Indiana Farm Bureau and LVM report better customer experiences and faster time-to-value, helping them improve operational efficiency and business agility. A commissioned study conducted by Forrester Consulting concluded that with Camunda, insurers can reap benefits worth $25m over three years.

This sum consists of both savings in excess of $23m  and additional revenue worth over $1m that organizations can unlock by capitalising on a now smoother customer experience — a significant competitive advantage. 

With Camunda, your team can design, automate, manage and improve a virtually unlimited variety of end-to-end business processes, such as:

  • Customer onboarding
  • Claims processing
  • Policy management
  • Regulatory compliance
  • Underwriting

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With the drive towards large-scale digitization of products and services accelerating, insurers should act now to remain competitive, conduct business more efficiently and reduce costs. 

— Christian Nicoll, Director of Platform Engineering and Operation, Generali Switzerland 

Scalable architecture fit for your growth plans

Camunda’s open software and flexible architecture enable powerful end-to-end process orchestration. It can be deployed on-premises or in the cloud, making it a highly scalable solution that can be easily integrated with most common technical architectures or frameworks. This is in stark contrast to other process automation vendors whose systems often resemble restrictive black boxes that are implemented in isolation to other processes and systems, limiting their ability to scale as your business grows.

Global success at scale

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Customer success

Optimizing customer experience through automation

Visana, a Swiss health and accident insurance company serving over one million individuals, decided to further develop its technical infrastructure, accelerate workflows and improve the customer experience by automating the claims process. Their existing solution lacked transparency and actionable insights, so they selected Camunda to orchestrate a number of systems including the entire incoming mail process as a document management service – with a daily load of 32,000 documents. In addition, Visana uses Camunda Optimize to create performance reports and heat maps that identify where processes and resource allocation could be improved.

Today, Visana continues to deliver on its core customer commitments – that customers receive their policies within 20 minutes, and agreed benefits within an average of eight working days. They expect to make fundamental changes to roughly 25% of job functions to realize the potential of a fully functional workflow automation system.

Digital transformation at scale

Provinzial, one of Germany’s leading insurers handling premiums in excess of €6b per year, chose Camunda to undergo a complete transformation from a predominantly paper-based approach to an automated, process-orientated way of working. Today, more than 100 processes and 250 decisions have been automated, running around ten million process instances each year.

Find out how Provinzial rolled out Camunda across the organization.

Questions?

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