ITC DIA Europe

Celonis: Process Mining to optimize insurance processes and remove inefficiencies

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Jul 17, 2023

The system landscape in the insurance industry is often very complex and confusing. Due to different legacy systems and tariffs, numerous process variants have emerged over the years – not all of them desirable.

Celonis is a software company that visualizes and analyzes processes so that previously hidden value opportunities and inefficiencies such as unwanted loops, unnecessary deviations from the ideal path, etc. can be discovered and fixed. Celonis enables customers to uncover value within their business processes. Powered by its proprietary process mining technology, Celonis provides a unique set of capabilities for business executives and users to continuously find value opportunities within and across processes, and execute targeted actions to rapidly enhance process performance.

In the insurance industry Process Mining is applied in the core fields of Claims, Operations and Underwriting, but also in overarching fields such as Procurement, Accounts Receivable and HR. Having worked with many insurers over the years, Celonis can show the impact their approach can have on the insurance business, especially in the areas of customer satisfaction, efficiency and effectiveness:

  1. Customer satisfaction is increased by reducing the number of manual customer touchpoints through process mining, thereby reducing cycle time.
  1. Efficiency is improved by identifying unnecessary activities and either eliminating or automating them (e.g. reassignment of claims; identification of reasons for poor dark processing rates).
  1. Effectiveness (reduction of expenses) is addressed by using process mining to eliminate root causes for non-successful steering to partner service providers (e.g. garages) or the undesired involvement of lawyers.

How it works

Celonis connects to the various sources of the respective process, extracts the required data fields and creates a digital twin of the process. The only requirement for the data is the existence of a unique identifier (e.g. claim number, contract number), the activities that these objects pass through and the associated timestamps.

With the digital twin, the process can be made completely transparent on a data basis for the first time. This is often the first time that one sees how the idea of how the process looks according to company employees drastically differs from the actual picture (see below):

Through provided functionalities like the Process and Variant Explorer, deviations from the ideal path and unwanted activities become visible for the first time. What used to be just a gut feeling can now be verified with hard facts.
Thanks to numerous drill-down analysis capabilities, root causes of the inefficiencies made visible can be discovered quickly. With numerous functionalities already included in Celonis, such as the Celonis Action Flow to trigger and automate actions can be taken quickly.

Why we selected Celonis for ITC DIA Europe

Making insurance processes visible and transparent, uncovering hidden inefficiencies and value opportunities – that’s what Celonis brings to the insurance industry, with their powerful Process Mining technology.

At ITC DIA Europe, Janik Syryca, Lead Value Engineer at Celonis, shared the stage together with Victor Thoma, Head of Process Mining at ERGO, strategic partner of Celonis. They presented Customer Best Practices at ERGO and show a live demo of the Celonis platform.

About Celonis

Celonis was founded in 2011 by 3 students of the Technical University of Munich, who pioneered and created the new software category process mining. Since then Celonis has experienced strong growth and now operates in more than 20 countries with headquarters in Munich and New York, serving thousands of customers. Celonis has more than 3,000 employees and has been recognized as a leader in Process Mining by Gartner, among others. In 2022 Celonis reached a market valuation of $13bn, making it one of Europe’s few decacorns.

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