Insurance companies are looking at ways to modernize business processes, cope with volume fluctuations, and ensure compliance to changing regulations. In an effort to achieve operational efficiencies, insurers have experimented with techniques like process re-engineering, Six Sigma, and Lean methodologies in the past. Despite the marginally reduced costs and complexity, the industry continues to grapple with these challenges.
Robotic Process Automation (RPA) offers the perfect solution by enabling companies to streamline their operations and providing them the required scalability and flexibility while adhering to compliance.
Some of the examples of Insurance back-office processes that can be automated through RPA are: