Robotic Process Automation in the insurance sector can be of help in so many areas:- Optimization of the whole process (RPA helps insurers simplify claims processing by streamlining multiple processes, including entering data into the system from various channels such as email, telephone, or online forms, checking coverage, and issuing settlement notices);
- Speeding up claims processing
- Higher quality and accuracy (RPA reduces the inevitable human error);
- Higher compliance (by letting the bot document each step of the claim processing);
- Simple scalability as it is feasible to decrease or increase the number of active RPA robots
- Reduced data entry (converting data from paper forms to electronic records can be done with minimal manual intervention);
- Eliminating the need for storage (with the growth of automation in the claims processing industry, physical archives are outdated. Now they are being replaced by electronic archives);
- Audit log (if any manager of the insurance company has access to a specific file of the claim or performed any action related to the claim, this information is automatically recorded by the system);
- Visibility to the client (new and modern software for the automated processing of claims allows the timely provision of all information to customers).
