Insurance and Robotic Process Automation (RPA) Robotic_Process_Automation_RPA_in_Insurance__UiPat | Page 2

Large companies in the industry have
already begun their digital
transformation journeys by
implementing automation solutions
and by trying out new data and
analytics capabilities. The enthusiasm
is palpable, and those who are
already implementing realize that
projects such as these require a full
organizational transformation, careful
planning, and clear objectives.
This paper will explain what benefits
Robotic Process Automation (RPA)
brings to the Insurance industry, how
it tackles the most sensitive pain
points, and offers guidelines on
building a successful RPA capability.
Real uses cases will illustrate how
other companies developed their RPA
deployments.
You will also find out what’s in store
for intelligent automation, as AI and
cognitive tools merge with RPA.
Finally, the paper will demonstrate
that insurers must catch the RPA train
before it is too late if they want to stay
relevant in an ever so challenging and
rapidly evolving market.
As Dianne Phalon, UiPath US Sales VP,
describes it:
“With demands to increase
efficiencies and improve
margins, insurance companies
are recognizing significant
competitive pressures on
numerous fronts. Deploying a
robot for front-end tasks to
deliver a better customer
experience is forcing all
insurance companies to follow
the path of early adopters in
RPA just to keep pace.”
Insurance in the age of intelligent automation - 2
THE CURRENT STATE OF INSURANCE
AND TECHNOLOGY
Insurance is an industry difficult to
revolutionize, and this is probably due
to the fact that it handles people’s
more valuable assets: their lives,
health, properties; essentially, their
security. Nevertheless, the industry’s
stability depends on global
socioeconomic and regulatory
contexts.
The United States have elected a new
President and the European Union has
been confronted with a rise of
Euroscepticism, which culminated
with the UK citizens voting to exit the
EU. Similarly, radical political views
have gained increasing support both
within European nations and in the EU
Parliament. These inevitably affect
sectors such as health insurance,
which is currently facing significant
regulatory changes.
On the technological side, the rise of
mobile technologies (IoT devices,
smartphones, apps, digital
wearables) generates a need for new
insurance business models and
services, especially in health and
property & casualty insurance.
Therefore, aligning with new
regulations, offering custom, up-to-
date services, while also remaining
competitive are some of the main
challenges insurers face today.
Other important trends affecting
Insurance concern:
▪ consolidating the new mergers
and acquisitions between various
insurers;
▪ priority is given to international
regulators over regulation from
national or regional organizations;