Reliance Life Insurance : Business Workflow Automation

Reliance Life Insurance is a part of Reliance capital, which is one of

India's leading private sector financial service companies. Earlier it included

four standalone systems to its IT infrastructure, for meeting the needs of the

business. But it lacked in managing the steps that involved underwriting,

receiving submissions, analyzing data, and providing approvals. The Underwriting

process incorporated manual assembling of information need from large paper

files. This resulted in the process timelines being stretched to over 14 days.

And in addition to that there was increase in error rates & cost due to manual

movement of files. Hence delay in revenue generation and reduced productivity

were some of the major business problems faced by RLIC. And that's what led to

the deployment of new business workflows automation.

The challenge they faced was that, as they had to deploy this across multiple

location, it required time and lot of analysis to find the right solution to

what faced by all the stakeholders. Also at the technical side they faced some

issues, such as integration of all the systems spread across the country. And

changing the implementation across various systems which interact with Savvion

BPM.

Finally they have implemented Savvion Process Modeler, a business process

modeling tool for business users; Savvion BPM Studio, a development environment

for more technical users; and Savvion BusinessManager. Hence Savvion has

resolved RLIC's biggest underwriting issues. It helped in reducing TAT time from

almost two weeks to a day, reducing lag time and ensuring that tasks don't fall

through the cracks. In addition to that the transaction costs for auto

underwriting have been significantly reduced.