Hi community,
Can you share which RPA use cases can be applied to the insurance industry?
Thank you!
RPA is used in the most financially intensive business across all industries:
If it is specific to the insurance industry:
- Damage assessment.
- Contract tracking.
- Operation reports.
- Premium calculations.
- Customer product information.
The topmost processes in the insurance industry to be automated with quick gains and wins are:
1. Claims Processing.
2. On-boarding new insurance customers.
3. Printing and dispatching of policy documents requested by customers via Service Request (or Helpdesk).
4. Uploading of documents for Claims Processing during Insurance Sales and during the eKYC Process.
5. End to End (Sales Process of insurance: Life, Motor, Medical, others).
6. KYC Process automation or eKYC Process automation.
7. Benefit Realization.
8. Need Analysis for an insurance product (part of a customer sales journey).
9. Policy renewals process.
10. Policy expiration and notification.
Thanks.
The insurance domain is very big. It has different ways of working in India or in other countries.
I have experience in the European region for more than 5 years where I had implemented the below (majorly) use cases with great ROI achievement:
1. Document Processing (Management).
2. Communication to Counter(Third) Party or Customer.
3. Policy Creation.
4. Policy Update.
5. Policy Cancellation.
6. Claim Processing.
There are still much more use cases but the above ones have good ROI in lesser time.
And again, it all depends upon various parameters that make a use case to be a good business case followed by a stable environment.
Regards,
Amol
Hi @ERNEST KUZOE ,
Some of the use cases are as below on which i have worked with some customers,
Regards
Shibu
Depending on where there is more volume of swivel chair operations you could pick the area for automation.
Usually, submissions are the best place to start with.
Dear @ERNEST KUZOE,
I have been focusing on RPA technology for academic reasons for the past 3 years. Since then, I've read many real implementation use cases from many serious researchers.
Regardless of the industry, you are interested in, you should read any of them. I could suggest you some of them:
1- Lacity and Willcocks, 2016 (Telecommunications Services)
2- Moffit, R. 2019 (Audit)
3- Hartley, 2019 (Supply Chain)
4- Lacity and Willcocks, 2015 (energy sector)
5- Anagnoste, 2017 (Backoffice)
6- Lamberton, 2017 (Insurance Industry)
7- Filipek, 2019 (Financial)
All of these use cases above will help you understand how RPA is deployed and what problems you will face.
This is the safest way to get good information about technology. Otherwise, you will only get marketing.
Good reading.
O. Moderno
Hi community,
What is Automation-as-a-Service (AaaS) and how different it is from RPA-as-a-Service?
Thanks
Hi all,
What are the features that you think are nice to have in an RPA product?
Thanks.