Streamlining new business: By the end of Hack Week, developers were able to utilize Hyland RPA with OnBase to deliver a proof-of-concept to completely automate new business processing. A few weeks later, FDLIC added five OnBase-integrated bots that automatically surface information to settle new business contracts.
Within one month, there was an 88% return on bot investment and a total elimination of lag time in LOB processing, as “settling” was happening throughout the day instead of overwhelming systems at the end of the day.
For the first three months in use, the bots were settling 95% of incoming contracts.
Increasing productivity: Once the bots took over, the productivity of the eight new business employees increased drastically, as they were easily able to handle large volumes of contracts every week. The bots allow these employees to focus on exceptions, build relationships with customers and deliver quicker, more accurate work. Also, no one has to stay late to process new business contracts.
The integration with OnBase and the ease of configurability of Hyland RPA meant that any team member — even if they didn’t have a development background — was able to write and deploy the bots they needed.
“Automation has allowed us to connect with our clients in a faster, more efficient way,” said Patrick Walker, OnBase developer at FDLIC.
Optimizing claims: FDLIC was also able to optimize its claims process. By initially utilizing OnBase, the organization’s claims department began saving approximately seven minutes and $4.36 per claim, while processing about 27,000 claims per year.
Speeding up the process: Taking it to the next level with its RPA solution, when a claim comes into the system, it verifies if documentation is complete and accurate. If so, the solution autopays the claim, further speeding up the process. The end-to-end automation solution has saved FDLIC 20,000 hours in manual processes over a two-year period, while claims volume increased by more than $15 million.
Freeing employees from manual, repetitive tasks: One benefit of automation that you can’t put a price on is meaningful work. FDLIC does just that for its clients. But by getting rid of manual, repetitive tasks, the organization also created more meaningful work for its employees.
“Before investing in RPA, we were looking into hiring additional staff to assist in time-consuming, manual processes,” said Kyle Swearingen, vice president of development at FDLIC. “Now our bots are handling the highly repetitive tasks, giving employees the ability to focus their time and effort on more important, high-value work that increases customer experience and service.”
Giving workers more opportunities to grow: Customizations have also allowed FDLIC to reallocate operations staff, taking employees who were doing the same repetitive tasks for 20 years and moving them into areas where they could grow, both personally and professionally. The organization’s leaders knew they didn’t want people clicking buttons anymore; they wanted them focused on service.
“From process design through bot management, the solution is intuitive and fun,” Swearingen said. “The integration between OnBase and Hyland RPA has helped us design the perfect claims and new business system. There’s no way we could have achieved these results without both of those assets.”
Next up, FDLIC plans on using its Hyland RPA solution to automate new agent onboarding and software implementation for funeral homes — helping customers to reduce manual processes and focus on providing meaningful services.