INDUSTRY: Insurance
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How Accelirate’s AI Agents Automate CPI Billing and Refunds to Generate $34.5K ROI for Financial Union
106
Hours Saved Annually
$34.5K
ROI Per Year
100%
Error Reduction
Client Overview
The client is a well-established credit union that provides brokerage and insurance services to its members. Their operations involve complex billing and refund processing within the Collateral Protection Insurance (CPI) system. With a growing number of transactions, their manual workflows led to inefficiencies, delays, and potential errors, impacting both compliance and customer experience.
Key Takeaways
- Eliminated manual billing and refund processing with AI-driven automation.
- Automated real-time reporting and stakeholder communication.
- Reduced errors and improved case visibility.
- Significant cost savings and enhanced operational efficiency.
- Business users can review and comment on reports without disrupting workflows
Managing CPI billing and refunds was a complex, time-intensive process for the client. Business users had to extract billing data, review account statuses, and manually process updates across multiple platforms, including CPI Web, Symitar Desktop, Outlook, and Excel. These manual workflows resulted in frequent delays and increased the risk of errors.
Accelirate partnered with the client to deploy AI-driven automation solutions, integrating intelligent AI Agents into the billing cycle. This automation significantly reduced processing time, improved collaboration, and ensured accurate financial reporting. The decision to implement this solution was driven by the need for an efficient, scalable, and error-free approach to handling CPI transactions.
Manual CPI Billing Delays Resolved with AI Agents Automating End-to-End Processing
The client’s manual billing and refund processing required multiple steps, including data extraction, business review, status updates, and report generation. These tasks were not only repetitive but also prone to human errors, leading to inefficiencies and delays in financial operations.
Challenges Faced
- Manual extraction of billing data from the CPI web application
- Dependency on business users to review and comment on transactions
- Processing varied account statuses (e.g., repossession, bankruptcy, paid-off)
- Generating and distributing reports across departments manually
AI Agents-Powered Automation Solution
To eliminate these inefficiencies, Accelirate implemented an Agentic Automation framework, deploying two AI Agents. By integrating these AI Agents, the client was able to ensure seamless collaboration, improve accuracy, and accelerate the processing of CPI billing and refunds.
01 - Billing.And.Refund.CPI.Dispatcher
- Extracted billing data from the CPI web application
- Organized and queued bills for automated processing
- Generated weekly reports for business review and feedback
02 - Billing.And.Refund.CPI
- Processed user comments and updated account statuses
- Automated classification of accounts based on repossession, bankruptcy, or payoff
- Created execution summary reports and sent real-time email notifications to stakeholders
CPI Billing and Refund Automation Process Flow with Agents
Step 1: Agent reads CPI weekly report file updated by the business, adds the data to processing queue
Step 2: Agent processes each account based on its status or classification (Repossessed, Bankruptcy, Paid Off)
Step 3: Agent updates the weekly CPI report based on the account statuses and records additional information
Step 4: Agent generates a CPI Execution Summary Report with all activities, issues encountered, account processing
Step 5: Agent completes the process by emailing the CPI report to relevant stakeholders
What Made This Solution Unique?
- AI-Driven Business Collaboration: The solution allowed business users to review reports without disrupting automated workflows.
- Automated Real-Time Notifications: Stakeholders received instant updates on CPI processing, eliminating communication gaps.
- Adaptive AI Agents: The system dynamically processed different account statuses, ensuring precise financial updates.
Automating CPI Billing and Refund Processing with AI Agents for Faster and More Accurate Transactions
By implementing AI Agents, Logix successfully streamlined CPI billing and refund processing. The automation not only saved significant manual effort but also improved data accuracy, reducing compliance risks.
01 - 106 Hours Saved Annually
Automation eliminated repetitive manual tasks, freeing employees for strategic work
02 - $34,209 Annual ROI
Cost savings through reduced manual effort and improved accuracy
03 - Error-Free Transactions
AI-driven workflows ensured consistency in billing and refund processing
04 - Faster Billing Cycle
Automation accelerated transaction completion, improving operational efficiency
05 - Seamless Business Collaboration
AI-enabled workflows allowed real-time business user input without delays
Driving the Present and Future of Financial Automation with Adaptive AI Agents
This success story highlights how Accelirate’s AI-driven automation solution transformed the client’s CPI billing and refund processes, reducing manual effort, improving financial accuracy, and streamlining workflow efficiency. The implementation of AI Agents ensured seamless collaboration between business users and automated systems, allowing the organization to optimize its financial operations while achieving significant time and cost savings.
If your organization is looking to eliminate manual inefficiencies in financial processing, Accelirate can help you implement tailored automation solutions that drive measurable business outcomes. Connect with us today to explore how AI-driven automation can optimize your operational efficiency.
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