Robotic Process Automation for Insurance
Easily Scale Complex Processes
Insurance companies deal with a high volume of paperwork and complicated workflows. A potential customer requesting a quote—an action that seems simple enough from the consumer’s perspective—triggers a series of processes that may involve disparate data sources and legacy systems. This makes it difficult to keep your business running smoothly and efficiently, much less to grow.
Robotic process automation (RPA) software for insurance not only handles your current volume of tedious processes, it can scale to match your future needs. It’s simple to configure software robots to streamline your data extraction, document processing, and other tasks, and adding additional robots doesn’t come with additional costs—unlike hiring new human employees. Depending on your industry, the ability to increase and decrease your workforce at certain times of the year without anyone losing a job might be valuable.
Simplify Compliance Processes
Whether it’s PCI DSS, HIPAA or other regulations, insurance companies all have to deal with maintaining compliance. Robotic process automation streamlines compliance by keeping detailed logs of automated processes, automatically generating the reports an auditor needs to see, and eliminating human error.
Since it’s intuitive and easy to re-configure your software robots at any time, tweaking your processes to fit new or updated regulations is never difficult.
Rely on a Digital RPA Workforce
RPA software has the flexibility to automate almost any repeated process and the ability to scale to meet your future needs. If you’re in the insurance industry, you might want to start by configuring your software robots to take some of the following processes off your hands.
Updating Client Data
Calculating Policy Premiums
Finding Data Mismatches
Invoice Generation and Billing
Hear from Our Insurance Customers
For this insurance company, balancing happens nightly and includes changes to any claims or policies made that day, changes usually numbering in the thousands. It used to require a second shift operator to manually balance between reports and systems, but with RPA, thousands of policies are checked every night to make sure everything is in order. The IT department is able to go "lights out" at night while Automate RPA runs the processes.
What's Your RPA Approach?
As your business starts to automate processes you’ve probably encountered the terms “front-of-glass” and “back-of-glass,” which refer to different ways to approach automation. What do they mean? And, even more importantly, what do they mean for your organization?