DIGITAL TRANSFORMATION
grow the business , instead of managing their system changes to run the business ,” comments Sethuraman .
By working at the intersection of applications , whether they are for processing licensing , compensation , products , underwriting , customer service , billing , or claims transactions , RPA relieves employees of certain tasks , leaving space for innovation : “ With automation facilitating a seamless information exchange , insurance operations can focus on more high-value work that helps to
Looking to the future of RPA in insurance It goes without saying that Insurtech is developing at a rapid pace and insurers are tasked with the challenge of keeping up . As it continues to be applied across organisations , RPA can become the foundation for digital labour during digitalisation of the industry , dramatically reducing the cost of operations for insurers while enabling them to become more agile and more resilient .
“ Insurers will also be able to offer their customers a highly personalised service . By treating customers individually , insurers will be able to create a much more intimate experience for them and , ultimately , become less of a product provider and more of a partner for life ,” adds Wallis .
Concluding , Sethuraman surmises what is to come for insurance and RPA : “ Looking into the not-too-distant future , automation will become more potent . Today , automation developers need to tell robots what to do , step-by-step : “ Move here , open this , extract that , bring it there …” Depending on the complexity of the automation , developing and encoding step-by-step instructions can easily account for 40 to 60 % of automation build time .”
“ Semantic automation allows automation to start to move away from rules-based approaches to eliminate much of this developer labour . Semantically-enabled robots will not only be able to see and read what ’ s on the screen ; they will also understand the relationships between , and contexts around , documents , processes , data , and applications . Soon , software robots will be able to simply observe an activity and begin to emulate it without step-by-step instructions .”
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