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Project Details

Consultant - Implementation of OCR in the front-end journeys

An Indian general insurance company

 Mumbai / Navi Mumbai, Delhi / NCR, Kolkata, Chennai, Bangalore, Pune, Hyderabad

Posted on:  23/03/2022

Cinque Terre

Starts on:  28/03/2022

BROAD CATEGORY

Information Technology

SUB CATEGORY

Project/Program Management, Data Science,

INDUSTRY

Banks

Company Details

An Indian general insurance company

Assignment Details

Our client, a Leading Insurance Firm from India is looking to engage with a consultant to work with the Digital Scrutiny Team (DST) and help with Implementation of OCR in the front-end journeys.

Project Area -

> Automate the digital scrutiny process with the help of tech enablers, process re-engineering, digital initiatives and OCR/ICR
> Define the rules/algorithm for document identification, data extraction and matching/mismatch identification
> Work closely with DST, Digital and IT teams to develop, monitor, troubleshoot and maintain the above rules
> Track the progress on regular basis and publish update against the goals/objective identified at the start of the project

Project Objective:

Implementation of tech enablers and process re-engineering for automated DST scrutiny process

Brief overview:

Currently, Advisor/RM/SM/BA logins into the mobile/Web application and follows the below steps for submission of application

- Lead Creation
- Quote Generation
- Pre-Verification video recording
- Application form filling
- Online initial payment
- Document upload
- Final submission

> The client has web based customer journey also, wherein consumer himself completes above steps and submits the application

> Post submission, application flows to Digital Scrutiny team (DST team). They are responsible for processing (scrutiny, checking KYC document verification and validating data filled in application form with supporting document provided) for all online business submissions

Challenges:

> High Attrition
> Night Shift Management
> Training and Quality delivery
> Budget overruns
> Delay in Issuance
> Rework

The project’s objective is to use tech enablers to eliminate the above challenges arising out of manual scrutiny process

Key Project Deliverables:

- Auto DST % target – 70%
- OCR success % - 95%
- OCR STP% -80%

Skills Required

- Good experience in BFSI sector - Operations Digital Scrutiny in business solution/analyst role
- Good Knowledge of document conversion/extraction and OCR
- Minimum 3 years of experience in project management / digital implementation
- Should be fluent in excel, access, Powerpoint

Assignment Duration

5 month(s)

Capacity Required

20+ Hrs/Week

No. of Positions

1

Nature of Work

Remote

Profile Requirements

Experience: 6+ years

Qualification : Graduate

fleXpertise required

Digital ScrutinyKYCOCRMachine LearningOptical Character Recognition

ESTIMATED BUDGET (Total Budget)

-

 

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