How Financial Spreading Automation Led to a 42% Turnaround Time Reduction for Tokio Marine

6 de setembro de 2023 | Geral

Aiming to speed up its credit analysis process, Tokio Marine — a insurance company that had a revenue of ~USD 2 billions in 2020 — chose to use Klooks’ automation solutions in its Brazilian subsidiary and managed to reduce the total time of the process by a staggering 42%.

The service consists of a highly automated routine for spreadsheeting company balance sheets as well as access to Brazil’s largest database of private capital financial statements, monitoring 60,000 companies.

According to the surety specialist Bruna Schwammlein das Chagas, hiring Klooks was essential for the team’s overall work.

“Hiring Klooks reduced the workload of our analysts, providing quicker returns,” the specialist explained to us. A Klooks customer since 2019, Tokio Marine has become capable of acquiring more customers, closing new contracts, and providing faster service to its brokers.

Such agility and time optimization are possible because spreading financial statements is currently the main bottleneck in B2B credit analysis and consumes a large portion of analysts’ time and energy. Those in the field know the level of responsibility involved in the financial spreading process and the high quality criteria required, as a single comma can change a credit decision involving millions.

The solution allowed analysts to focus on intelligence activities, minimizing as much as possible the time spent on manual tasks and low-value-added activities. This substantially reduced the lead time of the process and brought more quality to the analyses.

According to specialist Bruna, by hiring Klooks, the insurance company gained a significant competitive advantage, allowing it to deliver more to its customers than competing companies.

“We were able to provide different conditions to our customers,” Bruna told us. In this way, the benefits brought by Klooks allowed for the creation of a successful partnership.

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