A leading insurance technology provider relied on roughly 200 analysts manually extracting and analyzing regulatory circulars across jurisdictions. Myridius built a flexible, parameterized automation framework that cut effort by 50 percent, processed more than 4,000 regulatory changes, and delivered a production-ready pilot in six weeks.
Key Outcomes
- 50 percent reduction in manual effort.
- More than 4,000 regulatory changes processed.
- Production-ready pilot delivered in six weeks.
Overview
A leading insurance technology solutions provider faced a significant operational bottleneck in managing regulatory compliance across multiple jurisdictions. A team of approximately 200 regulatory analysts manually extracted information from insurance circulars and analyzed them for changes and downstream impact, while leadership sought to optimize this workforce as part of a broader growth initiative and keep operational costs low. The circulars were complex, varying in structure across lines of business and jurisdictions, with extraction and curation rules that changed dynamically. Myridius executed a structured engagement combining deep process analysis with agile automation development, building a flexible parameterized framework. As a result, the provider achieved a 50 percent reduction in effort, processed more than 4,000 regulatory changes, delivered a production-ready pilot in six weeks, and enabled a compliance process impacting 12,000 customers annually.
Client Context
The client is a leading insurance technology provider whose products depend on accurate, timely interpretation of regulatory circulars across many jurisdictions and lines of business.
Efficient, reliable regulatory processing mattered here because a 200-person manual operation was both a cost center and a bottleneck, with circular complexity and dynamic rules making the work slow and difficult to scale. What was at stake operationally was the provider's ability to keep compliance accurate and timely for thousands of policyholders while pursuing a broader growth and efficiency initiative.
The Challenge
The provider faced a significant operational bottleneck in managing regulatory compliance across multiple jurisdictions. Approximately 200 regulatory analysts manually extracted information from insurance circulars and analyzed them for changes and downstream impact, under pressure to optimize the workforce while keeping operational costs low.
Consider the analyst workflow. Circulars arrived in varying structures across lines of business and jurisdictions, with extraction and curation rules that shifted dynamically based on regulatory context. Each document had to be read, interpreted, and assessed for impact by hand, making the operation slow, costly, and difficult to scale as regulatory volume grew.