Insurance Application Form Processing & Data Entry
Client
Client A is one of the five countrywide life insurance companies whith over one-decade history. The company mainly provides insurance services to Chinese customers and it has been invested intensively by some foreign capital groups. Winterthur Swiss Insuranc, Luxembourg Banque Leu S. A., Tetrad Ventures Pet., Ltd. and SB Asia Net-Trans are all its shareholders. Till the end of 2005, A's assets has reached to USD 7.3 billions and annual revenue came to 17.8 billion the same year. Headquartering in Beijing, A owns 32 subsidiary companies and 187 central branches around China.
Challenges
It is important for a countrywide life insurance company to handle the large amount of insurance policies promptly and accurately. Every month A needs to process 150,000 copies of insurance forms. And peak value of insurance policy is also very high.
A and its 32 subsidiary companies have adopted electronic content management (ECM) to keep the policy data. But in the past, policy image scanning and business system data entry were done in the subsidiary companies. Then, the data would be transferred to the head office through network for storage. As business developing, A was faced by the following challenges with the process:
1. This distributed policy scanning and data entry process requires deploying corresponding hardware and software infrastructure and operators in every single subsidiary. So, it will cause extra cose, possible management turbulence and potential risks.
2. A has to arrange dedicated people to process insurance policies scanning and data entry in every single subsidiary. This process cannot grantee the professional and accurate processing outcome. In addition, it will hold the manpower and material resource which should have been used to develop the core businesses.
In order to realize its enterprise strategy adjustment, A decided to initiate a public bidding through which it could choose one professional outsourcing company to cooperate together.
Services
After a highly competitive bidding, Sunyard was successfully chosen to be A's long-term strategic partner based on the following reasons,
o Sunyard has over one decade experience in serving finance industry, which make Sunyard understand the business requirements better than others.
o Sunyard has strong background of software technology. We have already developed a complete set of software for the whole lifecycle of Document Imaging Management from data entry to image content management.
o Sunyard has already established a data entry center with state-of-the-art infrastructure and security system. We can provide data entry service on 24 hours basis.
Aiming at the challenges A was faced, consultants from Sunyard work together with A's staff to perform a due-diligent on the existing workflow of processing application and data, and software and hardware figuration. And based on the research and analysis, Sunyard propose the following solutions to help A overcome the challenges,
1. Data Processing Flow Adjustment
Take full advantage of Sunyard's remote data center in Hefei city, Anhui province and Sunyard's advanced data entry and data transmission technology to change the distributed scanning and data entry process to distributed-scan but centralized-data entry model.
The adjusted workflow
1) Every day, the newly created insurance application forms and policies will be scanned in the various subsidiaries across China.
2) The scanned images will be sent to the head office’s image content management server through network.
3) Every day, Sunyard data center will access the server through VPN and then download the images for the day.
4) All the images will be processed in Sunyard's data center within 8 hours. Key information is extracted and XML files are generated to contain and transfer the information.
5) The processed data will be sent back to A through VPN.
6) A's core system will apply further operations on the result data returned back.
The adjustment has successfully solved the previous management problems caused by resources redundancy and information separation.
2. Remote/Offline insurance application and policy entry
After the one-month test, Sunyard set up a dedicated professional data entry team with 100 operators for A, based on the remote data centre located in HeFei. This data entry team provides Insurance application and policy entry service to A by remote working. After the adjustment on workflow, this team has been playing a very important role in A’s insurance policy management and data entry process outsourcing.
Combining the A's requirement and Sunyard's extensive experience in document image processing, Sunyard set up the team with following roles:
q 1 account manager - in charge of coordinating and managing work for the entire data entry service process;
q 1 project managers – Manage the service team;
q 2 Software Engineering Staff – Responsible for applications maintenance, downloading/uploading and handle all technical issues during services;
q 70 Entry Staff- Analyze, extract and enter the data from image file which are downloaded every day.
q 20 Quality control staff – Check and validate the entry quality to assure the service level (99.995% accuracy level).
In the software aspect, Sunyard apply its proprietary, while the most advanced entry software product in the industry to organize and assist the entry work and make the service more professional and accurate.
q Form processing software. Adopting proprietary form recognition, forms definition, and image segmentation technology, to process the original image. In this way, firstly the security of data is increased and further work efficiency can be improved as well.
q Workflow software. Combined with the Form processing software, workflow platform can realize flexibly defining of discretional data entry mode and workflow. For example, per A’s requirement and different kind of insurance policy, Sunyard had defined adopted two different entry workflows which are double-entries/one-comparison and triple-entries/two-comparisons.
q Data entry application and business validation application.
q Furthermore, due to the adjustment of workflow, software engineers of Sunyard also assisted company A to adjust its original business system and image management system, in order to make them more suitable for off-line entry outsourcing model.
The Initiating Test began in March 2007, after a month, the project was launched officially in May 2007. Now Sunyard data centre is processing 150,000 copies of insurance policies each day. The peak value is 10,000 copies. The data entry accuracy rate is 99.995%, achieved the goal which company A has set.
Client Benefits
Company A has built up a permanent and long-term strategic partnership with Sunyard. And cooperating with Sunyard, the customer has successfully solved the challenges facing them. The customer has benefited a lot from the partnership:
q A could focusing more on the development of their core competitiveness, through outsourcing their insurance policy entry work. The company performance is expected to be increase by 15% at the end of 2007.
q With the help from Sunyard, the original business workflow has been changed, the management efficiency was optimized, and cost was reduced. After outsourcing, the cost of data processing has been reduced by nearly 30%.
q Accessing to the most professional data entry and image processing service and technology resources in the industry. The accuracy rate of insurance policy reaches 99.995%.
About SunSourcing
As the dedicated international BPO subsidiary of Sunyard, Inc., which is one of the largest public offering system service companies in China, SunSourcing is focused on providing a wide range of BPO services to global clients. Our mission is to deliver 100% satisfied services to our clients by ever escalating the value of their businesses and reducing their operation cost.
With about one decade years experience in serving international and domestic clients, SunSourcing has built up its superexcellent global service capabilities based on its sophisticated facilities and best-practice service methodology.
So far, we have employed around 1000 experts and processors working in its 4 offshore data centers and 30 branches distributed in almost all major cities throughout China. And the vertical industries we are serving for have covered Banking, Insurance, Entertainments, Real Estate, Publishing, Education, Governments, etc.
With a customer-focused attitude, desire to understand customer business & identify the right partner for executing the job, we are acting as a one-stop shop for business process outsourcing total solution provider from China.
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