Reducing insurance response time with the cloud

June 1, 2021 | 2 minute read
Karla Rivero
HCM Customer Marketing, Ibero-America
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BN Corredora de Seguros is a corporation belonging to the Banco Nacional de Costa Rica financial group. The company has been in operation for ten years, employs 105 people, and is one of five subsidiaries of the bank, earning the second-highest commission revenue.

The company’s main goal is to provide high-quality services for boosting customer satisfaction. That’s why they are currently undergoing a digital transformation process allowing for the expansion of communication channels where the customer can engage with the company throughout the insurance coverage process, no matter where they are.

To achieve digital transformation and create the customer vision, BN Corredora de Seguros started an internal transformation process to “flip the switch.” They sought out Oracle due to its worldwide presence and deployed Oracle Fusion Cloud Human Capital Management (HCM) to unify all human resources processes. The aim was to have a tool that enabled obtaining timely information from employees to make decisions and support administrative process optimization.

“Before Oracle, we used to have delays on transactions that prevented us from getting truthful, and especially, effective and efficient information,” says César Calderón Badilla of BN Corredora de Seguros’s Financial Administration Office. “With Oracle Cloud HCM, if, for example, a person goes to the doctor, they are now capable of taking a picture of the physician’s note for sick leave and get it to their boss via a flow. We have managed to save 25% of the time spent on carrying out self-managed personnel actions.”

The results of the implementation were immediate. BN Corredora de Seguros saved 35% to 40% of the usual time needed for obtaining information related to vacation time and sick leave. This streamlined process through which management can oversee and amend such information has ensured accuracy of over 97%, which helped quickly identify the most vulnerable members of the population during the COVID-19 pandemic and consequently keep them safe. Additionally, the company’s Financial Administration Office’s move to self-service applications has also increased efficiency by 25%, especially since employees can now access information from multiple channels, including the web and mobile devices. As a result, responsiveness to customers is up by 50%.

“Oracle Cloud HCM is changing the way we do things and giving our employees the distinguished experience of working with a piece of technology that has helped us so much as an administration. HCM was one of the first initiatives for the digital transformation, and that means starting the process with our collaborators,” concludes César.

Before purchasing Oracle Cloud HCM, there used to be a three-to-four-day delay in receiving client information. Now, information is acquired and updated immediately, meaning that employees can offer more personalized attention and increase customer satisfaction.

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Karla Rivero

HCM Customer Marketing, Ibero-America

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