Case Study: Leading Reinsurance Company achieves 100% processing accuracy and 80% TAT reduction with UiPath

Leading Reinsurance Company - Customer Case Study

Leading Reinsurance Company faced slow, error-prone monthly bank statement reconciliation: staff manually compared statements to the BIS Ledger/Cockpit, extracted balances and updated systems, which was time-consuming and susceptible to mistakes. To address this, the company engaged UiPath to apply RPA automation using the UiPath Robot for underwriting and new-business financial transactions.

UiPath implemented a robot that automatically extracts data from client bank statements, compares balances with the accounting system and updates reconciled information in BIS Ledger/Cockpit. The UiPath solution delivered 100% processing accuracy, an 80% reduction in turnaround time, and saved roughly 1/4 FTE from the process.