Q : HOW WOULD YOU SUMMARISE THE KEY OPERATIONAL BENEFITS OF RPA WITHIN INSURANCE ?
TECHNOLOGY
Q : HOW WOULD YOU SUMMARISE THE KEY OPERATIONAL BENEFITS OF RPA WITHIN INSURANCE ?
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Cathal McGloin : RPA can reduce cost and improve scalability . It can also increase revenues and customer satisfaction scores by automating and personalising repetitive processes and providing paths to self-service , which ultimately minimises the manual steps that are handled by humans . Tasks such as document upload and validation are repetitive steps which can be automated in favour of focusing on higher-value tasks . Going back to the ISG survey findings , this type of automation allows insurers to add more customers and serve them at scale , rather than continually cutting costs , which is not sustainable in the longer term .
Jason Wilby : The key benefit we see is a significantly improved customer experience . RPA technology lends itself to faster , more accurate decision-making that ’ s running 24 / 7 , and enables greater accessibility through a few clicks .
Monica Spigner : By harnessing the efficiency granted by RPA , insurers can streamline manual processes and experience a 40 % reduction in the cost of fault case management . From the back to the front office , insurers are witnessing a domino effect from the positive changes being made throughout their business operations , resulting in agents and advisors having more time available to focus on more complex cases .
Chris Huff : Insurance companies need to rethink how and where they deploy human resources . Cross-functional
SEPTEMBER 2020