Astra’s Framework comprises 4 phases - Strategy Alignment, Capability Identification, realisation of Immediate Benefits and Long-Term investment planning. The first stage formulates the overall objectives of automation while the second phase identifies the low hanging fruits that are critical to business functions which needs to be improved immediately. The third and fourth phases define and deliver the short and long-term gains.
The significant advantage of Astra is that it is customized. Deployment modules are tweaked that adhere to the new processes and technologies. On an average, the solution is delivered in a span of 12-16 weeks. This helps Insurers to record real-time benefits from the very first day of going live.
- 65% improvement in the TATs
- 99%+ accuracy acheived on complex processes
- 40% reduction in the project run times
- 23-30% Incremental revenue consecutively delivered over 2 years
In the case of a Europe-based insurer with its operation in Hong Kong, the brief was to automate its group claims process. The deployment enabled the insurer to achieve 70% straight-through processing which reduced processing time and errors by conducting transactions electronically. The advantage was that it recorded real-time benefits from the very first day of going live and helped re-organize operations quickly. Given that the bots were reusable, the automation helped in reducing process times and errors across business lines.
Astra has also been effectively utilized for Software Quality Assurance areas where it helps assess the quality of enhancements in real time, when projects are deployed using Agile methodologies. Built on open source .NET platform, the bot has helped in bringing down the verification time by as much as 90%. This is helping clients to significantly reduce costs and effort by bringing down time involved on their projects along with the challenge of training project resources.
Pradeep Satya, Founder & CEO
“CXOs across the Insurance industry face umpteen challenges to keep pace with growing demand of their customers. To manage the shifting dynamics, they must effectively prioritize investments to grow the business in a very competitive market place. In this scenario we needed an ‘intelligent weapon’ – hence Astra was born. Astra helps clients by bringing in simple innovation, that lets them have not just a competitive advantage but the power to invest wisely too”
William Kuan, Board Advisor at Synergy
“I have always considered the Customer to be King and core to the success of any businesses. Continuous service improvements, new mobile connect experiences and the need for innovating in real time, are in higher need than ever before for Insurers”