DIGITAL TRANSFORMATION
getting started with automation , insurers can set up software robots to execute routine processes in sales , underwriting , servicing , and beyond that tend to be a pain to do business for customers and agents . By incorporating automation into these time and financial sensitive processes , insurers can improve agility when challenges arise , expedite speed in response time and get customer-facing digital capabilities up and running faster .”
Building business agility with RPA As well as making existing operations more efficient , automation also helps insurers wield newer technologies such as machine learning with ease-of-integration to support decision making in underwriting and claims adjustment .
RPA and automation technology are perfectly placed to work in conjunction with humans , complementing their judgement in pricing and claim payments , and in doing so , it enhances the workforce productivity to deliver enterprise results .
“ Using digital labour allows insurers to build agility and resilience into their businesses . Streamlining processes obviously offers improved operational efficiency , but the fact that large volumes of work can now be done by a workforce that never sleeps , can be ‘ re-trained ’ instantly and will never catch COVID-19 means that an insurer can react rapidly to the next disruptor ( of whatever kind ) and can pivot their business to new markets , new demographics and new products in days or weeks rather than months or years ,” explains Wallis .
“ The digital workers effectively shield the insurer from the limitations of legacy , allowing them to focus on the value of the innovation and the impact on customers , rather than the complexity and bottlenecks of the underlying systems ,” he adds .
“ Semantic automation allows things to start moving away from rules-based approaches to eliminate much developer labour ”
SATHYA SETHURAMAN GLOBAL LEADER , INTELLIGENT AUTOMATION , UIPATH
68 May 2022