Top RPA solutions for insurance

RPA and Process Automation for Insurance

Take the boring, repetitive, and time-consuming work from your employees’ shoulders, integrate your systems and streamline operations.

5/5 clutch vetted

Clutch 5 star review

RPA and Process Automation for Insurance

Take the boring, repetitive, and time-consuming work from your employees’ shoulders, integrate your systems and streamline operations.

RPA for insurance

5/5 Clutch vetted

RPA For Insurance
What Is Possible?

Automate Data and Document Management

Process enormous amounts of data in no time and eliminate human errors. Then, move the data automatically between your systems, CRMs, and other tools or databases.

Integrate Accounting Systems and Apps

Build interoperability between all your systems and accounting tools, create automated data flows and never move data manually again.

Automate Claims Processing

According to McKinsey, automation of claims processing can yield the most significant impact on insurance providers’ bottom lines. Learn how it can be done.

Automate Underwriting and Risk Assessment

Collect unstructured data from internal and external sources automatically. So, you can determine risks and get clients the appropriate rates faster and without errors.

Integrate Accounting Systems and Apps

Build interoperability between all your systems and accounting tools, create automated data flows and never move data manually again.

RPA bots easily emulate the work of insurance workers:

RPA FOR INSURANCE [PTCOA CASE STUDY]

Automating Claims Submission

Pain Treatment Centers of America is Arkansas’s largest fully comprehensive pain management practice network. Our software bots fully automated their claims processing workflow, freeing up employees precious time and generating 100% Return on Investment in less than a month!

Watch the RPA bot automatically submitting claims in PrognoCIS EHR system.

100% ROI

achieved in 23 days

4FTEs

monthly saved

2 weeks

of development

$180K

saved/year

RPA for Insurance – What is There to Gain?

The insurance industry is a perfect playground for implementing process automation. Insurance companies worldwide are utilizing RPA to achieve more while spending less.

Simplifying Claims Processing

RPA allows bots to gather data from several systems and put it together in one place, making a claim processing much easier and faster.

Rapid Cost Reductions

Cut down your costs and free up financial resources, so you can reinvest, grow your business or provide more attractive hiring arrangements for your employees.

Higher Staff Retention and Satisfaction

Keep your employees and physicians away from dull, mundane work and let them focus on tasks that bring value to your clients and the company.

Better Customer Experience

The impact of RPA on customers is twofold. First, people receive answers to their claims faster, and insurance agents can devote more time to clients.

Streamlining Data Processing and Boost Accuracy

Run your data processes more smoothly and faster with RPA. Unlike human workers, RPA bots execute data entry 24 hours daily without interruptions or errors.

Full System Interoperability

Bring digitalization to your company quickly by integrating Robotic Process Automation. It handles the challenges of system updates and makes integrating the new much easier because it is consistent with legacy systems.

RPA allows bots to gather data from several systems and put it together in one place, making claim processing much easier and faster.
Cut down your costs and free up financial resources, so you can reinvest, grow your business or provide more attractive hiring arrangements for your clinicians.
Keep your employees and physicians away from dull, mundane work and let them focus on tasks that bring value to your patients and the company.
The impact of RPA on customers is twofold. First, people receive answers to their claims faster, and insurance agents can devote more time to clients.
Run your data processes more smoothly, and faster with RPA. Unlike human workers, RPA bots execute data entry 24 hours a day with no interruptions or errors.

Bring digitalization to your company quickly by integrating Robotic Process Automation. It handles the challenges of system updates and makes integrating the new much easier because it is consistent with legacy systems.

  • 34%

    of time needed for insurance claims processing can be saved with RPA (UiPath)

  • 38%

    of US insurers are already using Robotic Process Automation (Gartner)

  • 50%

    average productivity gain across insurance units (McKinsey)

RPA for Insurance: Our Success Stories

Pain Treatment Centers of America: automating insurance processes with an army of bots

How we automated insurance claims processing, freed up 4FTE per month, and achieved 100% ROI in 23 days

How to process over half a million insurance documents and finish the job 4 weeks before the deadline

Ayr Farmers Mutual: Process over half a million insurance documents in 4 weeks

How to process over half a million insurance documents and finish the job 4 weeks before the deadline.

How to process over half a million insurance documents and finish the job 4 weeks before the deadline

Schedule Your Live RPA Demo

Not sure if RPA can work in your case? Let’s check that together! Schedule a demo and see how RPA magic can automate your workflows.

Why Flobotics for Insurance RPA Development?

Why Flobotics for Insurance RPA Development?

Cost-effective Automation

Thanks to our competitive rates, we can build cost-efficient RPA automation and maximize your ROI starting from the development phase.

Top RPA Consultants

Our RPA consultants are only sourced from the “Big Four” of accounting: EY, PwC, Deloitte, and KPMG, with a proven track record of RPA delivery.

End-to-end Business Support

RPA development is only a part of what we do. Our main goal is to improve your bottom line and streamline your processes.

We will work with all your apps and systems

Robotic Process Automation is our passion and core competence. We do what we do best – automate repeatable processes and build unbeatable robots!

  • 350%

    Average ROI increase from a single automation

  • 100+

    Successful RPA implementations

RPA for Insurance – What Should You Know?

Insurance is a vital industry that faces many challenges, including rising costs, legacy systems, and a resource crunch. These challenges can lead to difficulties for insurance companies, especially in maintaining profitability and growth. However, RPA in insurance can help address many of these problems and provide growth and development opportunities.

How Can Insurance Processes be Automated?

Robotic Process Automation for Insurance (RPA in insurance) is a technology that can automate many insurance processes. For example, RPA, when done by real experts, can automate claims processing, underwriting, call-center support, registration form handling, policy administration, process and business analytics, and product innovation. In addition, these processes can be automated using software robots to perform specific tasks, such as data entry and workflow management. This can help reduce costs, improve efficiency, and increase accuracy.

Let’s see what specific processes can be improved with Robotic Process Automation.

Claims Processing

By automating the data entry and workflow management aspects of claims processing, RPA improves processing speed; tasks are carried out on time and in an orderly sequence. Faster claims processing leads to improved customer satisfaction and loyalty.

Underwriting

This is another process that Robotic Process Automation can significantly optimize in insurance. RPA computerizes the entire data collection process from internal and external sources. Hence considerably reducing the time consumed for underwriting. Additionally, automation can help improve the accuracy of this insurance process.

Call Center Support

RPA can automate call center support’s data entry and workflow management aspects to help reduce the time and resources needed to handle customer inquiries. Bots can quickly aggregate customer and product information, enhance employee collaboration and increase policyholder retention.

Registration Form Handling

RPA bots allow insurers to automate the process of handling registration forms and direct the information into the appropriate workstreams, which increases accuracy and data quality, leaving no room for human errors.

Policy Administration

RPA automates administrative and transactional parts of insurance processes such as settlements, accounting, risk capture, tax, regulatory compliance, credit control, etc. Focusing on more complex front-office functions, employees get more satisfaction, leading to a better customer experience.

Still in Doubt?

Many insurers have fears and blockers regarding automation, such as the availability of technical skill sets, concerns that the technology is not essential to their business strategy, and concerns about the return on investment (ROI). However, these fears are often unfounded.

For example, regarding the availability of technical skill sets, many RPA providers offer training and support to help insurers acquire the necessary skills. Additionally, many insurance companies already use automated technologies such as RPA to improve their operations.

Another common concern is that RPA is unimportant to a company’s business strategy. However, automation can help insurers improve efficiency and reduce costs, increasing profitability and growth. Additionally, with the rise of insurtech and the increasing use of digital technology in the insurance industry, automation is becoming an increasingly important aspect of insurance operations.

Finally, some insurers hesitate to invest in RPA because they are uncertain about the ROI. However, many insurance companies have seen significant returns on their RPA investments, including cost savings, improved efficiency, and increased accuracy.

Conclusion

At Flobotics, we provide various kinds of RPA insurance automation & process automation consultation. In addition, we hire top automation experts with an impressive background and understanding of industry-relevant processes. As a result, we have solid experience in automation processes in insurance and would be glad to boost your company’s productivity.

In conclusion, automation can help insurance companies address their challenges and provide growth and development opportunities. Robotic Process Automation (RPA) technology can automate many insurance processes. Our developers and consultants can help you understand the industry-relevant processes and how automation can help improve your business. Contact us to learn more about how we can help your company.

Automate your insurance processes!

Reach out and see what can be done for your business!

Automate Insurance Workflows!

Bring Robotic Process Automation to your company.
Let us know what are your needs and challenges and we’ll build a free RPA demo to solve one of them.

How to implement RPA in insurance claims processing?2024-02-26T23:37:55+01:00

Implementing RPA in insurance claims processing involves a strategic approach that begins with assessing current workflows, identifying repetitive tasks suitable for automation, and mapping out the end-to-end process. Collaborating with business stakeholders and IT teams, a detailed automation plan is crafted, focusing on optimizing claims handling efficiency, reducing manual intervention, and enhancing accuracy. RPA tools are then selected and configured to mimic human actions, integrating seamlessly with existing systems. Comprehensive testing, training, and monitoring procedures are essential to ensure a successful RPA implementation, ultimately driving significant improvements in claims processing times, accuracy, and customer satisfaction.

What are the key benefits of implementing RPA for insurance industry?2024-02-26T23:30:21+01:00

By leveraging RPA, insurers experience heightened operational efficiency, significantly reduced processing times, enhanced accuracy in data handling, substantial cost savings, improved regulatory compliance, optimized claims processing, and superior management of extensive data volumes. This transformative technology empowers insurance enterprises to streamline mundane tasks, focus on value-driven activities, elevate customer service standards, and gain a competitive edge in the dynamic market landscape.

How can RPA help in insurance?2024-01-09T12:59:03+01:00

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).
Will robots replace insurance agents?2024-01-09T12:59:00+01:00

RPA doesn’t replace humans. They just free them up of the manual tasks and give an opportunity to work on more meaningful and strategic tasks

What can be solved with RPA in insurance?2024-01-09T12:58:57+01:00
  • RPA computerizes the entire process of data collection from both internal and external sources. Hence, significantly reducing the time consumed for underwriting.
  • Process and Business Analytics (with RPA, customer service response time and claims processing are improved seeing many clients benefit from the streamlined processes)
  • Policy Admin and Servicing (RPA automates administrative and transactional parts of processes such as settlements, accounting, risk capture, tax, regulatory compliance, and credit control)
  • Sales and Distribution (RPA helps to create sales scorecards to help push notifications to insurance agents and help supervise compliance)
  • Finance and Accounts (RPA is built to carry out keystrokes, clicks, copy-pasting information, temple auto-fill, field entries, pressing buttons, and lots more. As a result, a larger percentage of daily bank reconciliations are automated, and transactional expenses are reduced including policy-cost footprint)
  • Integration with Legacy Applications (RPA can fit perfectly into the prevailing workflow of insurance providers adapting to any type of system made available for use)
I won’t be able to cope with RPA maintenance, what to do?2024-01-09T12:58:54+01:00

Supporting implemented RPA system does not require programming skills so, your non-technical employees with some basic knowledge or training from our side for a very short duration would be able to manage it.

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