(RPA) applies specific technologies to automate routine, standardized tasks in support of an enterprise’s knowledge workers. By freeing human employees from these mundane tasks to apply themselves to core business objectives, RPA offers a number of compelling benefits to the workplace.
– Institute for Robotic Process Automation (IRPA)
Robotic Process Automation (RPA) seems to be now crossing over the hype cycle and delivering real-world benefits in driving efficiencies, leaner processes and reducing costs and errors in processing of massive amount of demand or data driven processing systems that traditionally had a lot of human effort invested in mundane tasks.
Insurance has some very key areas that are time consuming, data intensive as well as customer contact center based. Lot of human effort is spent on data gathering, collating data from multiple system, updating systems with changes or new data and validating and processing.
Based on data and case studies shared by various RPA Tool implementations, here are the areas in insurance where RPA has demonstrated successful implementations:
The RPA Bots have been able to:
Though there are still limitations on how RPA can be effective, (mostly hardware/mechanical and OCR related), there are many new research and tools that are scaling up to overcome these limitations.
Given the real-world benefits, beyond the hype delivered by RPA, it is bound to spread into other business areas. With incremental improvements in Artificial Intelligence (AI) and cognitive systems, RPA implementations can only improve to deliver more benefits. The limiting factor is most likely to be how organizations and society are geared up for these changes and respond to them.
Deb has a strong background in IT services / Product development Sales, Delivery and Consulting. he has build IT outsourcing businesses across global customers in BFSI, Retail and Utilities. He is a bookworm, music lover apart from being travel and food crazy.