Case Study
With bluesheets' Smart Inbox technology, Mitsui Sumitomo Insurance Group (MSIG) reduced costs, improved staff morale, shortened claims processing time 60%, and increased fraud protection - all within the first month of deployment.
60% claims processing time saved with 18% cost savings within one month of implementation
bluesheets' A.I. capabilities facilitate the translation, processing and management of language-diverse data
bluesheets' smart inbox solution connects pre-existing processes and customer experiences
MSIG is one of Japan's largest insurance companies and a global top-8 private & commercial insurance provider. A Fortune Global 500 member with close to US$2 billion in premiums, it is the only insurance company with presence in every ASEAN country.
Consistently ranked No.1 in ASEAN, MSIG has a proud tradition of partnering with best-in-class technology providers to sustain its position as an industry leader, delivering stellar experiences and value to both customers and employees alike.
Introducing Intelligent Process Automation (IPA)
Recognizing that Intelligent Process Automation (IPA) could further enhance the user experience, MSIG began its search for a software solution that enables a more efficient claims processing workflow, enhanced data analytics capabilities, and supports its steadfast commitment to sustainability.
Having tested – and rejected – several vendors prior, MSIG was then introduced to bluesheets, Singapore’s leading A.I.-based data transformation platform for enterprises looking to streamline the processing of unstructured data at scale. They soon realized they had found their partner of choice.
"Just one month into our project, bluesheets is reducing our claims processing time by 60% and claims operating expenses by 18%."
Project Goals
Upon selecting bluesheets as its technology partner, MSIG tasked bluesheets with digitizing its claims operations and services, to deliver results with 3 key outcomes:
Smart solutions across Asia's rich language diversity
To streamline the large volume of data being received every day in a variety of languages from MSIG's international customer base, bluesheets introduced its ‘smart inbox’ solution. All incoming data is automatically ingested, and the platform uses ‘smart’ claims processing to digitize and auto-categorize the data before sending it to the claims management system.
No more manual data input: once implemented, the Smart Inbox takes care of everything. Spanning across every line of business (P&C, Marine, Motor, Healthcare, Life etc), these smart solutions allow MSIG to save 60% of the time they typically spend processing claims, and instantly reduce their operating costs.
Bluesheets' language and currency agnostic capabilities facilitate the translation, processing and management of language-diverse data
Automating with clearer insights
bluesheets' A.I. capabilities equip MSIG with the ability to auto-verify claims. The in-built Robot Processing Automation (RPA) ingestion channels now automatically intercept applications across various channels and consolidate them in the claims system.
Whilst bluesheets is automating claims in the background, in-built control panels uniquely designed for the local teams allow their employees to stay on top of processing activity, driving productivity and job satisfaction.
Downstream features that future-proof
The bluesheets solution also offers MSIG downstream features, disbursing data into 3rd party systems, allowing them to automatically process complementary forms for claims handlers and decision-makers.
With the ability to easily access digitized data sets, MSIG now has the ability to analyze all of its data in one place, paving the way for future product optimization and data-informed strategic decisions.
Data is the New Gold
“bluesheets is proud to provide MSIG with a digital solution that spans every facet of its business, from Property and Casualty, Marine, Motor, Healthcare, to Life. With data from across business lines now digitally stored securely in the cloud, MSIG is able to supercharge its data analytics and fraud detection. This was simply not possible before bluesheets. Above and beyond significant time and cost savings, with bluesheets, MSIG has unlocked a treasure-trove of analytic insights which can help it maintain its competitive edge.”
Reduced processing time from 5 to 2 hours
Within one month of implementation, MSIG reported a reduction in time spent processing claims by 60%. This allowed their team to reallocate their time and efforts into more high-value tasks and responsibilities.
Reduced claims operating expenses by 18%
A significant cost reduction was likewise reported within one month of implementation. This profit booster is completely scalable with bluesheets, so as MSIG continues to grow, their resourcing cost does not have to, hence sustainably improving their bottom line.
Enny Halim, Executive Vice President of Business Development & Digitalization at MSIG Asia presented on the value that bluesheets delivers at the Plug and Play APAC InsurTech Summit 2.0 in Singapore
Improvements in employee morale and skills
With bluesheets technology automating claims processing in the background, case handlers no longer have to be burdened by tedious rote tasks. Instead, they are free to better allocate their time and energy to tasks that deliver higher value not only to the company, but also to their own professional growth and development, consequently driving overall productivity and job satisfaction.
Summary of project highlights and deliverables
The team at MSIG were able to reach their project goals more effectively and efficiently than they had ever imagined, leveraging on bluesheets' features which allow them to:
The bluesheets difference
“Given the high volume of unstructured data MSIG receives every day - in multiple formats and different languages – we created a ‘smart inbox’ for MSIG to automate this critical first step. MSIG now enjoys ‘hands-free’ data input, with our ‘smart’ claims processing system providing data auto-categorization and digitization via bluesheets' proprietary intelligent document processing engine.”
