Royal Exchange General Insurance Company (REGIC), Nigeria's oldest and largest insurance provider, has announced a significant shift towards digitalising its operations using the Kissflow Low-Code Platform. With 75% of the company's enterprise operations now anchored by Kissflow, this has resulted in considerable automation and improved operational efficiency.
John Agbai, Chief Digital and Information Officer at REGIC explained, "Customer experience is paramount to success in the insurance industry, and any delays in processing claims can result in attrition and tarnishing of the brand image. To elevate our level of service, we recently undertook an enterprise-wide digitalisation journey by leveraging Kissflow."
"To date, we have successfully digitalised eight core operations, including policy booking and claims, which translates to more rapid and responsive customer service and enhanced employee productivity."
Through the deployment of Kissflow's Analytics module, REGIC has also effectively implemented real-time dashboards to monitor the progress of claims processing, thus aiding in the adherence to service level agreements (SLAs). The new system flags claims approaching deadlines and improves accountability.
Moreover, automation ensures that customers are informed via email or SMS at every stage in the claims process. As a downstream effect, the processing period for claims has been reduced from three days to two hours, leading to an 80% decrease in customer churn.
Digitalisation through the Kissflow platform has further enabled REGIC to adopt hybrid working modalities, ensuring uninterrupted operations regardless of employees' location. This advantage was evident during the Nigerian elections when employees worked from home without negatively impacting customer service standards.
Kissflow has also significantly improved the budgeting process. Automation and digitalisation have increased transparency and streamlined operations, reducing instances of budget overruns by 85%.
Looking to the future, REGIC seeks to leverage KIssflows' low-code platform further towards building custom application development. "Kissflow Low-Code largely aims to eliminate the technical skills barriers by enabling IT and non-IT staff, such as line-of-business managers and department heads, to collaborate and rapidly develop customised applications that automate and streamline business processes," said Agbai.
"We are looking to build an investment and HR app, and Kissflow's Low-Code platform will enable us to engage all relevant stakeholders in the development process, which will no doubt yield impactful outcomes."
Agbai spoke further on how Kissflow has reshaped operations: "Kissflow's no-nonsense user interface and powerful functionality have helped us show value to our end-users and get management buy-in, thus increasing user adoption and change management. We have gone from IT-driven transformation initiatives to the end-user-driven ones."
Acknowledging the transformative power of Kissflow, Agbai concluded, "Kissflow has put our company on a new digital transformation journey. Their solutions have dissolved traditional barriers to innovation and redefined roles in our organisation by empowering individuals beyond the IT team alone. We now consider Kissflow to be a strategic partner in achieving our vision of becoming the number one general insurance provider in Nigeria."