Zurich Insurance, like other large enterprises, relied on a BPO for cash application and other O2C processes. However, the inherently complex operations that involved banks, brokers and insurance policies resulted in a slow cash application process that could result in erroneous notices of cancellations and thereby subpar customer experience. Learn how Zurich reduced dependence on their BPO by leveraging Artificial Intelligence based cash application solution for 85% and 45% straight-through processing respectively for checks and e-payments to not only improve customer experience but also cut costs.
Key Takeaways:
1. Reduce outsourcing expenses by implementing AI-enabled technology in-house
2. Improve aging of receivables with accurate same-day cash posting
3. Drive e-payment adoption with automated cash application.