Pension Fund Processing Automation
A pension fund with 5,000 employees servicing 2.5 million members processed 50,000 forms per month manually across 100 FTEs. We deployed conversational AI and RPA to automate form processing, cutting processing time from 12 to 3.6 days (70% reduction), errors from 8% to 1.2% (80% reduction), and redeploying 60 FTEs to the customer team, freeing AUD$6.0 million in resources.
Key Outcomes
The Challenge
The fund had 5,000 employees servicing 2.5 million members, processing 50,000 forms per month (600,000 annually) for new members and changes. One hundred FTEs in the call centre (of 200 total) processed forms manually. The process was time consuming, error prone, and an impediment to growth, with average processing taking 12 days and an 8% error rate.
Our Solution
We conducted a Design Thinking Review of customer interactions and designed a solution using conversational AI and robotic process automation. Elements included chatbot automation for routine form queries and member guidance, with manual verification escalations for complex cases. The project took approximately 6 months, including a 1.5-month proof of concept that validated the approach before full rollout.
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