The technology makes it possible to work more efficiently and to offer customers quick added value
With our data-based approach, risks can be reduced and control increased
Since weak points and cost drivers are identified immediately, bottlenecks can be avoided and lean and optimized processes can be guaranteed
Financial service providers and insurance companies can no longer avoid the topic of digitization. In view of global competitive pressure and rising customer expectations, an effective digital strategy has long been indispensable.
But the industry is lagging behind. 93% of insurers state that digitization can provide positive impulses for process improvements, but around 40% of them did not implement any or only inadequate digital projects in the past year. But if you want to play in the top league of the finance and insurance industry in the future, you have to act quickly. The competition never sleeps.
Process mining from Celonis can be the key to success here. The technology provides a real-time overview of all processes in the company and shows precisely where the friction losses are greatest. Only a better understanding of inefficiencies in processes can help invest in the right digitization activities.
Greater transparency of processes and faster and more efficient cooperation between the departments are particularly relevant factors for banks and insurance companies that want to offer digital services in the future and promote internal digitization projects.
Celonis helps to approach digitization systematically and holistically - by analyzing existing processes and uncovering inefficiencies. In this way, transformation initiatives can be integrated into regular day-to-day business and additional friction losses can be avoided. The technology can therefore be used not only to make individual areas more efficient, but also to improve the overall business result. You can find out how this works in detail here:
In addition to transformation initiatives, KPIs and the constantly growing demands of customers are also challenges that financial service providers and insurance companies have to face on a daily basis.
With Celonis Process Mining, department heads can ensure that their optimization measures are going in the right direction and are warned in good time by signals as soon as the specified process steps are no longer accurate. In addition, long-term goals such as customer-oriented and efficient processes can be pursued.
Read here what the first steps to successful process mining in the operating process of insurance companies are:
The use of Celonis Process Mining can also lead to relevant competitive advantages when it comes to active claims management or optimizations along the magical claims triangle, consisting of customer satisfaction, processing costs and claims expenditure
Arrange a demo with our experts and you will see how our process mining, AI and automation solutions can help your teams to make your company even more efficient and to improve business operations.