How is RPA evolving for insurance companies?
The robotic process automation (RPA) has proven to be a valuable technology for many companies looking to improve efficiency, reduce costs and enhance the customer experience. This technology, which combines Intelligent Automation with Artificial Intelligence, has revolutionized all kinds of businesses around the world. In this article, we want to share with you a curious and interesting case of how a well-known company has used RPA to achieve these goals.
The company in question is a large insurance insurance company that has been in business for decades. Like many companies in its industry, it has undergone significant changes in the way it interacts with its customers and manages its operations. In particular, the company faced a major challenge regarding its claims process, which involved a large number of paper documents, multiple systems and constant communication with policyholders.
Claims processing was an area where the company had experienced many problems. Manual document review and data entry into multiple systems was time consuming and error prone. Communication with policyholders was often delayed and unclear, resulting in a poor customer experience. The company knew it had to do something to improve this process and decided to implement the Process Digitalization to automate it.
The company's team responsible for implementing RPA began by identifying manual processes that could be automated. They discovered that many of the processes involved document review and data entry into multiple systems, tasks that lent themselves perfectly to automation.
Software robots were in charge of reviewing documents, extracting important information and entering data into the corresponding systems. An automated email system was also set up to communicate with policyholders, providing updates and resolving their queries in a timely and clear manner.
The result of the implementation of the RPA was impressive.. Claims processing time was reduced by 60%. Human errors were reduced to zero and communication with policyholders improved significantly. The company also achieved substantial cost reductions, as many processes that previously required employee intervention had now been automated.
In addition, the implementation of RPA allowed employees to spend more time on higher-value tasks, which increased their job satisfaction. Instead of spending time on repetitive and tedious tasks, employees now focus on more creative and strategic work that adds value to the company.
In conclusion, the insurance company case demonstrates the power of RPA, combining Intelligent Automation with AI, to improve efficiency, reduce costs and enhance the customer experience. Robotic Process Automation is an increasingly popular technology across a wide variety of industries and is likely to continue to grow in popularity as more companies realize its benefits.
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