Today, Insurers are looking for every edge they can find to improve underwriting results, identify insurance needs, price and sell policies, improve customer experience, manage fraud and risk, settle claims, and reduce processing times/costs.
As insurers confront the challenges of a rapidly changing InsurTech landscape, they are seeking to make immediate and impactful operational improvements that deliver results. One way they are doing this is through – Robotic Process Automation. RPA, in conjunction with other fast deployment technologies such as Natural Language Processing and Artificial Intelligence, is driving significant improvements in the existing underwriting process.
Robotic Process Automation (RPA) in insurance allows insurers to achieve the improved productivity and efficiency they have been seeking, by automating rote or repetitive tasks. It also enables them to write better risk, and also position their organizations for the truly transformative change required in today’s competitive environment.