Every day, the insurance industry deals with overflowing amounts of monotonous clerical jobs. Insurance companies process vast amounts of data into actionable insights to improve underwriting, claims, and policyholder service. Insurers are reinventing their business models and replacing legacy platforms with emerging technologies to meet customer expectations. Robotic Process Automation in Insurance industry enables to access data across disparate systems and automates repetitive manual tasks. With manual processes automated, employees can develop innovative insurance products, accelerating claim handling, and improving fraud detection.
Robotic Process Automation in Insurance can accomplish repetitive tasks more quickly, tirelessly, and more accurately than humans. This, in turn, frees them up to focus on those tasks that require human strengths such as reasoning, judgment, and emotional intelligence, thus creating more value for their organizations.
IntelliBuddies® intelligent automation platform enables Insurance Industry to automate repetitive tasks, reducing time, cost, and human errors while increasing performance, efficiency, and throughput. Further, it can work with existing infrastructure, seamlessly bring data from legacy systems, and provide you better analytics.
IntelliBuddies® Intelligent Automation platform augments your Insurance team to help improve efficiency and effectiveness. Our Buddies can help you automate the following processes under Insurance:
- Claims Registration & Processing
- Underwriting – Gather information and assess risks
- Regulatory Compliance – Report Generation, Validation, and Notification
- Administration – Policy Administration and Servicing
- Business Analytics – Measure operational efficiency and identify areas of improvement
- Policy Cancellation – Tally date and terms
- Sales – Handle scorecards, push notifications and perform legal and credit checks
- Finance and Accounts – Reconciliate transactions and maintain footprints
- Actuarial Reporting – Data Validation, Basic Modification, Model Development, Report Analysis.
- Data management system – Automated record migration and updating process
- Legacy System Integration – Seamlessly integrate with existing ERP and BPM systems
- Back office processes – Issuance to Surrenders
IntelliBuddies® RPA platform can ensure better processes and improve productivity for the insurance organizations. Overall, IntelliBuddies® can easily connect core insurance processes with the newer capabilities by achieving the following benefits:
- Elevation of profits
- Better Compliance
- Provide top-notch customer service