TAN CHONG INSURE Revolutionises Car Insurance Renewals with Robotic Process Automation
Tan Chong Insure (previously known as Tan Chong Insurance Business Stream (TCIBS)) is a business division of Tan Chong Motor Holdings Berhad and it is a leading professional insurance consultancy-based division that provides services in all classes of general insurance for individuals, families, and corporations in Malaysia.
Challenges
Tan Chong Insure has processes of initiating monthly car insurance renewal reports and distributing them to over more than 90 offices nationwide which was previously managed manually by key personnel at the headquarters. Representatives at each branch office had to prepare renewal quotes and contact customers for renewals. However, due to the large volume of quotes, representatives often found that customers had already chosen other companies' services by the time they made contact.
The challenge for Tan Chong Insure was that the processing of a large number of car insurance renewal quotes was slow and often not completed on time. This resulted in deficiencies in communication and relationship management with customers, thereby affecting the company's business revenue and customer satisfaction.
Solutions
The solution was the introduction of Robotic Process Automation (RPA) technology to optimise the renewal quote review process.
The Robotic Process Automation (RPA) solution can now automatically generate lists of customers whose policies are about to expire and the renewal reports without any human intervention. The system automatically captures the detailed insurance information of customers and compares it with all insurance company partners to generate the latest car insurance quotes. It then automatically sends the quotes to customers via WhatsApp, allowing them to promptly contact representatives to complete the renewal or adjust their coverage.
Business benefits
“Our renewal quotation review process will now be automated and monitored by the RPA solution. Previous unproductive collaboration between HQ and the branches are now removed. We expect a minimum improvement of 15% take up rate in the coming year” said by the Head of Tan Chong Insure.
All tedious and repetitive tasks related to processing customer quotes are now efficiently managed by our Robotic Process Automation (RPA) solution. Clerical and administrative duties have been centralised at headquarters and are seamlessly automated by the RPA system.This allows representatives at branch offices and contact centre staff to redirect their focus towards more valuable endeavours, such as enhancing customer relationships and driving sales, ultimately leading to enhanced business performance.
Since the adoption of RPA, the efficiency ofend-to-end automated quote processing has doubled compared to previous methods.
Note: This project is supported by our partner MyAdamas Technologies which provides consultation and project implementation services to Tan Chong Insure.
