AI and Robotic Process Automation (RPA)in Insurance
A Smarter Way To Manage Your Business
qBotica is one of the leading providers of solutions for robotic process automation (RPA) in insurance, offering resources that go from document-processing tools to AI-based services, to automate specific tasks within your business.
The insurance industry is fast-paced and challenging. Business owners have to deal with complex and dynamic risks, regulations, and operations. While some may see this situation as an obstacle, others see an opportunity for growth thanks to RPA.
McKinsey
~40%
of reporting, planning, and other strategic work can be automated
McKinsey
75+%
of transactional operations can be automated
Accenture
30 – 40%
Lower cost of underwriting and claims processing with automation.
Robotic Process Automation solutions In Insurance Sector
RPA For Insurance
Property and Casualty
Trade fragmented, tedious, and risky for seamless, sleek, and secure. Automation connects disparate customer journeys, streamlines regulatory compliance, and weathers challenging market conditions through better operational agility.
Underwriting
Underwriters agree: Ignoring automation is a risky policy
Looking for a sure bet? 40% of underwriting is administrative. Give underwriters their time back with intelligent collation of data from disconnected sources, and process that data with ML decision capabilities aided by a human in the loop.
Business Use Cases:
Renewals (80% of insurers business
New Business (collation of data)
Performance reporting and peer reviews
Billing and Payments
Elevate your renewal rates with better billing
Reduce manual touchpoints by automating payments and reconciliation. ML models continuously improve exception handling with human in the loop training.
Business Use Cases:
Premium collections and settlement (statement issuance)
Periodic payments and premium adjustments
Claims settlement (re-use KYC process)
Customer Service
Empower agents with the right information at the right time
Seamlessly deliver superior and faster post-sale services including policy documentation, queries, and changes. RPA and automation handle the boring stuff so agents can refocus on customer needs.
Business Use Cases:
- Query/call intake from omni channel
Issuance of policy documents
End to end automation of Mid Term Adjustments, including cancellations, updates to contact or bank details, and more
Claims Management
Stop leakage with timely insights on risk
Transform the claims experience with proactive risk mitigation advice for you and your customers. Achieve 30% potential savings through better CX, operational efficiency, and fraud detection.
Business Use Cases:
First Notification of Loss (FNOL) intake of claims – triage
- Collation of data for Claims assessment
Claims tracking and updates on status to all stakeholders
Life, Retirement, and Benefits
Dust off your data. Automation is about to put it to work. With AI, a custom offering for every client is just a click away.
Claims Management
Stop leakage with timely insights on risk
Transform the claims experience with proactive risk mitigation advice for you and your customers. Achieve 30% potential savings through better CX, operational efficiency, and fraud detection.
Business Use Cases:
- First Notification of Loss (FNOL) intake of claims – triage
Collation of data for Claims assessment
Claims tracking and updates on status to all stakeholders
Customer Service
Empower agents with the right information at the right time
Seamlessly deliver superior and faster post-sale services including policy documentation, queries, and changes. RPA and automation handle the boring stuff so agents can refocus on customer needs.
Business Use Cases:
Query/call intake from omni channel
Issuance of policy documents
End to end automation of Mid Term Adjustments, including cancellations, updates to contact or bank details, and more
Billing and Payments
Elevate your renewal rates with better billing
Reduce manual touchpoints by automating payments and reconciliation. ML models continuously improve exception handling with human in the loop training.
Business Use Cases:
Premium collections and settlement (statement issuance)
Periodic payments and premium adjustments
Claims settlement (re-use KYC process)
Underwriting
Underwriters agree: Ignoring automation is a risky policy
Looking for a sure bet? 40% of underwriting is administrative. Give underwriters their time back with intelligent collation of data from disconnected sources, and process that data with ML decision capabilities aided by a human in the loop.
Business Use Cases:
Renewals (80% of insurers business)
New Business (collation of data)
Performance reporting and peer reviews
Streamline Tedious Tasks with Automation and AI
Insurance businesses face several challenges to remain operational. Some of those include manual and repetitive tasks like data entry, document processing, and policy renewals, which can be time-consuming and prone to errors. Not only that but the rising operational costs of an industry that grows more complex, makes it particularly challenging to manage the escalating expenses of the business.
At qBotica, we understand the intricate challenges faced by the insurance industry. With our cutting-edge Robotic Process Automation solutions, we empower you to conquer these obstacles and unlock the full potential of your business.
You can now say goodbye to inefficiencies and frustrations that come with manual tasks and skyrocketing operational costs.
Our insurance robotic process automation solutions are tailored to revolutionize the way you operate, making your business lean, agile, and highly efficient.
Discover the power of RPA in Insurance
The Future of (RPA) Robotic Process Automation in Insurance
RPA is not just about automating routine tasks. It also implies augmenting human intelligence with cognitive technologies that require natural language processing, machine learning, computer vision, and emotion recognition.
At qBotica, we take pride in solutions for RPA in insurance. We offer end-to-end robotic process automation services, from strategy and design to implementation and support, to help you achieve your business goals.
With more than eight years in the market, we are constantly working to adapt our technologies to the ever-changing market. We have partnered with leading RPA technology providers to deliver customized and scalable robotic process automation and intelligent automation services that meet your specific needs and challenges.
Improve the Efficiency of Your Business and Reduce Workloads
We understand that efficiency can be a problem when it comes to repetitive tasks. Afterall, document processing is also vulnerable to human errors, which can make some of the data utilized unreliable. What if you could avoid these problems and have access to high-quality data at all times?
qBotica offers end-to-end intelligent automation and document processing tools you can use to automate the rule-based duties related to the processing of data. You can leave the work to the machines and focus on the critical aspects of your business.
Thanks to our RPA insurance solutions, you’ll be able to:
Reduce costs and optimize the operational efficiency of your business.
Improve the customer experience thanks to faster document processing and precise information.
Make precise calculations and generate accurate reports when needed in record time.
We can work together to create a perfectly distributed workforce. The solutions we offer are easily adaptable to the insurance industry, allowing you to automate some of the most tedious parts of your business.
RPA Insurance: Powerful Success Stories
RPA’s main purpose is to make jobs easier, preventing employees from performing energy and morally draining tasks that could have a negative impact on them.
Several successful RPA implementations in the insurance industry have already showcased the transformative power of this technology, allowing businesses to double the ROI in the first year.
According to recent industry reports, insurance businesses leveraging RPA solutions have witnessed an average cost reduction of up to 30% in their operational expenses. This freed-up capital has allowed them to allocate resources strategically, focus on core business functions, and even invest in enhancing their customer service.
qBotica: Your Trusted Partner In RPA Excellence
At qBotica, we take pride in our extensive experience and expertise in delivering successful solutions concerning RPA for insurance. As a leading provider of robotic process automation services, we have empowered numerous insurance businesses and corporations across different markets to overcome their operational challenges and achieve remarkable results.
From automating mundane tasks to implementing intelligent automation, qBotica’s RPA solutions are designed to optimize your workflows and drive transformative growth.
qBotica’s Partnerships: A Competitive Advantage for RPA and AI in Insurance
We have recently acquired platinum-level partner status with UiPath, the industry leader in RPA and hyper-automation, to offer Automation Cube, a managed service solution that includes UiPath product licensing, infrastructure, delivery, execution, and support for all your automation needs.
Microsoft, AWS, and Lorven Technologies are also part of our list of certified and trusted partners. Thanks to these associations, we have been able to continue providing such an excellent insurance robotic process automation service.
Learn more about our partnerships and why our partners love to work with us.
More To Explore
Don’t miss these latest resources, upcoming events, and recaps
Experience the Future of Insurance with qBotica’s RPA and AI Solutions
In the fast-paced and challenging world of insurance, staying ahead of the competition and overcoming operational obstacles is crucial for success. That’s where qBotica’s cutting-edge robotic process automation in insurance solutions comes in to revolutionize the way you operate.
Say goodbye to inefficiencies, soaring operational costs, and the burden of manual tasks. With qBotica’s tailored RPA solutions, your business can become lean, agile, and highly efficient.
Are you ready to embark on this transformative journey? Don’t miss this opportunity to redefine the way you do business in the insurance industry. Get started today!
Frequently Asked Questions.
Insurance companies interested in implementing RPA can partner with us at qBotica. We are the leading providers of RPA solutions and offer end-to-end services, including strategy, design, implementation, and support. Speak to our experts to know more about automation goals and growth.
Robotic process automation has the potential to enhance customer service within insurance companies through
- Quicker response times
- Improved information accessibility
- Provision of personalized services like tailored recommendations or discounts.
- Streamline administrative processes
RPA can improve underwriting processes by automating administrative tasks. Such tasks include data collation and performance reporting, allowing underwriters to focus on more complex risk assessments. It enables faster decision-making and enhances productivity.
RPA can be applied across various functions in insurance, including:
- Underwriting
- Claims management
- Billing and payments
- Customer service
- Policy administration
- Regulatory compliance
Schedule a meetup with our experts to know more.
Latest Case Studies and Customer Success Stories
How qBotica Helped A Transportation & Supply Chain Software Company Process 500+ Documents In A Day
How qBotica Helped A Global Top 10 Bank Reduce Processing Time By 75% And Errors By 90%
How qBotica Implemented RPA Solutions In 4 Markets To Enable A Global Energy Company To Gain 95% Time Savings
How qBotica Enabled A Top Financial Services Company To Increase Their Cost And Time Savings By Over 90%
How qBotica Increased Claims Processing By Over 7x for a Top Healthcare Client
How qBotica Helped A Fortune 500 Technology Products Company To Process 1 Million+ Invoices Each Year
How qBotica Helped A Government Organization Improve Accuracy By 99%, At The Same Time Increasing Processing Efficiency By 85%
How A Government Organization Started Processing Documents 4x Faster, With qBotica.
How qBotica Helped A Global Non-profit Organization Create A Safe Learning Environment For Kids
