Insurance and Robotic Process Automation (RPA) Robotic_Process_Automation_RPA_in_Insurance__UiPat | Page 5

(on national, regional or international
levels) occur often, and business
processes suffer or need to be re-
established in order to reflect these
changes. Compliance difficulties and
non-compliance by insurance
companies can result in a range of
damaging financial and operational
consequences.
Scalability is another pain point that
scales into play whenever there are
seasonal peaks and lows, and being
able to handle a high volume of work
is essential.
These are areas where RPA can bring
a positive, measurable impact.
Automation opportunities, as defined
in an Accenture study, reside in areas
where significant human effort and
resources are employed: in sales &
distribution, underwriting and pricing
and claims processing. In sales and
distribution, software robots can
perform sales scorecards for notifying
agents, compliance checks, maintain
customer accounts from paper or
online forms.
Underwriting and pricing processes
can also be handled by robots for
data entry, updating systems,
gathering information from different
systems, updating personal details,
rejecting or canceling policies if the
payment was not done in due time,
identifying policy errors and
performing reconciliation. For claims,
RPA can easily automate notifications,
recurrent back reconciliation,
transactions and more.
RPA also significantly improves
customer relations, helping insurers
deliver more customized offering,
develop better interactions, generate
better insights thro