Process mining in banking and insurance

About Trilations

One of the focus domains at Trilations is business intelligence, such as process mining in banking and insurance, and any industry that uses digital data to keep track of business operations. Our Business Analysts, Data Analysts, Architects and Project Managers enable you to make the right decisions and to make sure the results of these decisions are delivered.

Our aim is to enhance your revenue, your client satisfaction, your employee satisfaction and your business processes through in-depth analysis, data management and the use of new technologies. We make sure you are ready for the business world of today and tomorrow.

To give you a better understanding of our services we prepared case studies about some of our success stories. This article talks about the eight in a series of nine case studies we will publish on our website, giving you a firm idea of what Trilations can realize for your business.

Contact us for more information about these or any other project needs you might have. We would love to discuss them with you.

Project setup

For a multi-channel bank-insurer headquartered in Belgium, focusing on private clients and small and medium-sized enterprises, we used process mining technology to increase efficiency and digitization in the life cycle of an insurance claim process. Process mining stands for an objective approach by analyzing your business through the data behind your operations, the digital track. This automated analysis brings an in-depth view on how your processes really work.

In a first phase, our consultants performed an in-depth analysis of the underlying data sources from several legacy systems. Then existing BI tools (MS Excel/QlikView) were used to create globalized data tables (case and event tables) to feed the process mining tool. In a second phase after loading the model with data, a testing was set up and improvements were made to the data model. In a third phase it was decided to create overview dashboards in order to facilitate analysis by the stakeholders involved.

This approach helped our client to locate unnecessary steps and remove bottlenecks. They are now able to keep track of SLAs in every subtask and find the causes of inefficiencies. To illustrate, we discovered a bottleneck caused by deficiency of the e-form system, doubling the promised processing time.

Solutions and results

Project goals

• Identify high number of process variations

• Identify process lead times

• Create insightful dashboards

Technologies & methodologies 

• QlikView

• QPR Process Analyzer

• Dashboarding design

• Dimensional Data Modeling

Project flow

• In-depth analysis of legacy data concerning policies in life and non-life procedures

• Define data model

• Transform data for use in the process mining tool

• Improve the data model (additional attributes)

• Analyze processes

Results

• Clear identification of process bottlenecks and process stalls

• Creation of relevant Process Dashboards

• User training for process mining tool

• Reduce operational risks

• Identify RPA opportunities

• Maximize efficiency front and back office

Learn more about process mining 

If you are interested in more information on process mining or want to find out how Trilations can help analyze your performance and drive up the results, please reach out to us.