Today, the insurers across the globe focuses on improving the customer experience through various forms of digital solutions. The Information Technology support to insurers has become inevitable to run the business, stay competitive, meet regulatory requirements, provide delightful experience to customers, maximize profits etc. One of the digital solutions of the current world is Robotic Process Automation (RPA).
The business users of the insurers perform monotonous nature of jobs that results in reduced employee and customer satisfactions. They perform repetitive tasks such as underwriting, claims processing, policy servicing etc, majority of which could very well be automized through RPA.
RPA helps insurers to optimize costs, eliminate repetitive tasks, partially or fully automize the business processes, ensure accuracy and focus on tasks that requires reasoning and judgement.
This article talks about RPA in the context of its need, focus areas and expected benefits for the Insurance Industry.