Robotic Process Automation in Insurance Archives

Category: Robotic Process Automation in Insurance

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Insurance Brokerage: Standardization Enables Valuable Sales Automation and Reduces Administrative Burden

Sales and Operations The recently-hired COO of a large, successful, third-generation, family-controlled insurance brokerage struggled with a range of frustrating challenges. The traditional, “sales-driven” culture typical of almost all comparable brokerages was based heavily on personal, face-to-face relationships. Lots of businesses rely on this model for sales; however, this culture also pervaded senior management’s views …

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Life Insurance Carrier: Process Standardization and Automation Rapidly Boost Employee Productivity and Policyholder Experience

Policy Administration A leader in life insurance products for direct-marketing channels in the U.S. struggled to recruit and retain customer service reps (CSRs) for its contact-center operations. And the implications were more serious than simply long, frustrating wait times for callers. That’s because nearly half of all inbound calls involved intense efforts by CSRs to …

By The Lab Consulting Insurance Reducing Insurance Operating Costs Robotic Process Automation in Insurance RPA Case Study RPA in Insurance RPA in Insurance Industry RPA Insurance Use Cases RPA Use Cases September 23, 2020

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Robotic Process Automation for Insurance: Direct Bill Commissions Reconciliations

Do you really still have people performing these rote, error-prone chores? “Reconciliation” is just a fancy word for “making sure things match.” It’s an essential cross-checking chore that can be found in all industries. In insurance, you need to make sure that numbers from one source—say a carrier’s commission statement—match those in another—such as your …

By The Lab Consulting Business Intelligence in Insurance Business Intelligence Services Claims Leakage Insurance How to Minimize Claims Leakage How to Prevent Claims Leakage Insurance Insurance Claims Analytics Insurance Claims Transformation Robotic Process Automation in Insurance Robotic Process Automation Insurance Claims RPA in Insurance RPA in Insurance Industry RPA Insurance Use Cases April 2, 2020

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How to reduce insurance claims leakage—and the loss ratio—via standardization, business intelligence, and robotic process automation (RPA)

This is part 1 of a 4-part-series. Find the other parts here: Part 2: Crush Policyholder Services Costs & Turbocharge Customer Experience Part 3a: Digitization For Insurance Companies: Reduce Operating Cost and Multiply Effectiveness With RPA Part 3b: Slash P&C Insurance Costs & Multiply Effectiveness With RPA Minimizing claims leakage, defining the solution, …

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