Manufacturing (Trucks)
Case Study
Manufacturing (Trucks)
Customer is an American Fortune 500 company and counts among the largest manufacturers of medium- and heavy-duty commercial vehicles in the world. Customer is engaged in the design, manufacture and customer support of light-, medium- and heavy-duty trucks.
The Problem
The customer, a 100-year-old company, leads in truck design and manufacturing, distributing their trucks through dealers. Currently, they use legacy software across various divisions to track business metrics. The customer has been losing significant money annually due to warranty claims on vehicles and parts across multiple models. Dealers have the potential to raise fraudulent claims, and there is no current system in place to detect these. Additionally, the customer has no way to forecast warranty claims and relies heavily on manual claim processing by a large team of agents. The customer is interested in automating these processes.
The Solution
BIRD conducted thorough exploratory analytics on the customer’s database to gain an in-depth understanding of the domain. After discussing potential use cases and problem areas with the customer, BIRD developed advanced predictive models to identify fraudulent claims using NLP techniques. The solution also automated claim processing and provided claim forecasting for better inventory management. Additionally, BIRD offered web service requests for these models, allowing them to be invoked directly from transactional systems.
The Results
- Cost savings of approximately $675,000 per year were realized by reducing the number of claim agents through automated claim processing.
- Report generation time was reduced from 1 week to a few minutes as batch data processing was made real-time.
- Fraud avoidance and proactive alerts resulted in significant additional savings for the customer.