The New Business process in Life Insurance faces numerous inconsistencies, particularly with manual transactions for most applications, leading to considerable deviations and delayed issuances. Our objective is to alleviate these challenges by realigning the process and addressing the pain points using Celonis. Accenture ALIP New Business Control Tower helps to rapidly identify and resolve issues, and minimize Execution Gaps across all use cases identified. Our approach involves detecting inefficiencies in the process, evaluating their impact, investigating their root causes, and implementing action flow to resolve them.
This is where Accenture and Celonis Combine their Strengths:
Identifying process inefficiencies, their root causes, and recommendations for digitization/ automation/ system enhancement initiatives.
Generating actionable insights leading to reduced cycle time and improved operational outcomes.
Prediction of key business indicators like volumes, cycle time, and impact to improve resource utilization.
Improvement in overall operational capabilities leading to an enhanced customer service experience.
The process explorer view gives the holistic digital twin visualization of the process and overall sense it shows all the events and activities in the correct chronological order along with the connections.
The Variant Explorer provides an overview of the overall variations in the process and buckets them under variants lower the number of Variants in the Variant Explorer is better as it helps and shows that the process is more streamlined and has a lesser number of elements in the critical path, hence increasing the overall efficiency.
This view helps us understand how well our process meets a specified standard or an ideal process configured.
This comparative view allows for side-by-side analysis of multidimensions key KPIs based on selected filtered parameters and process flows for two or more different entities to have better insights into what is working well and what needs to be improved.
This view shows the Execution Management capabilities that the asset has to offer and learn, how it goes beyond simple identification of bottlenecks or process gaps and truly highlights the factors that contribute to the process shortcomings, their different dimensions, and how some of them can be addressed.
Detailed Analysis of Submission to Issuance Cycle Time and its contributing factors
Factors contributing to the Reverse flow of the applications and their impact
Detailed analysis of documents being ‘Not In Good Order’ cases
EMS Capability functionalities in use
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