Discover how RPA solution slashes insurance incentive reconciliation time by 24 times, boosting efficiency and security in corporate banking operations.
Table of Contents
Process information
Department: Insurance Department, Corporate Banking Division
Number of processes: 2 processes related to the incentive reconciliation of insurance officers at the bank.
Process list:
- Credit assurance insurance officer incentive reconciliation
- Life insurance officer incentive reconciliation
Purpose: To compile detailed monthly incentive statements for insurance officers and branches from revenue summary list and send them to the corresponding insurance officers/branch directors.
Challenges
- Simple but repetitive process
- Manually sending 60 emails per day
- Total processing time of 6 hours per day
- Security risks due to having to send to the correct recipients
Solution
- Bot automatically download reports
- Bot automatically process and compile data
- Bot automatically mail merge data and send to the corresponding insurance officers/branch directors
Outcome
- Reduced processing time from 6 hours to just 15 minutes
- Minimized security risks
