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Learn how “digital workers” can handle at least half of your carrier, brokerage, or MGA/MGU insurance operations

What are “digital workers”? And how can they help you, as an insurance executive, to automate your operations? What about “bots”? Where do they figure in the world of brokerages, carriers, and agencies such as MGAs and MGUs?

If you, your technology leads, and internal improvement teams are wondering about where to start when it comes automation in insurance, you’re not alone. There’s a ton of hype floating around the insurance industry these days, with buzzy terms like “agentic AI” and “large language models” or LLMs and “generative pre-trained transformers” or GPTs seemingly everywhere. Where should you begin? What, precisely, should you automate in insurance?

The answers can be hard to come by; AI firms are biased around their own software (which is, after all, what they’re selling). And they tend to focus on the theoretical more than the practical.

Fear not. In this article from The Lab, we will take a chainsaw to all of the jargon. We’ll cut through all of the marketing clutter. We’ll help you understand what automation in insurance actually is—and how you can put it to use for the maximum value in your carrier operations, brokerage, or agency.

And here’s an enticing bottom-line benefit for you, to keep you reading this long-form explainer article: You can automate your insurance operation, with “digital workers” performing at least half of your daily processes… and do it only 6 – 12 months.

Pave the way for reduced cost, improved risk management & compliance, and increased operational efficiency

Engineering and construction or “E&C” firms fall into lots of categories, depending on their specialization and clients they serve. As an E&C executive—whether your firm’s focus is civil engineering, general contracting, mechanical engineering, design/build, or any of a host of role- or project-specific disciplines—the first step on your strategic transformation roadmap should always be process mapping.

Discover how to “chat with your data” to gain newfound competitive advantage via bank & credit union data intelligence:

• Performance lift: 2x or more
• 2 – 5 additional margin points on new sales
• Capacity alignment and reduction of 20%- 35% in branch network

From Receiving Inventory Through Reverse Logistics/Returns, Learn How to Unlock the Value in Every Step of Your Logistics Process

Automate 50% or more of your financial institution’s processes in just 6 to 12 months

The buzz is about as overwhelming as the buzzwords: Agentic AI, GPT, LLM, and countless other acronyms are swirling about the head of every bank and credit-union executive today.

It’s hard to grasp what they are or what they do, let alone figure out precisely what you can (and should) automate at your bank or credit union. After all, AI software advisory firms just talk about what’s theoretical… and try to sell you their software.

In this long-form explainer article, we will cut through the clutter and filter out the buzz. We’ll remove all the marketing jargon. We’ll demonstrate exactly what automation is possible in your bank or credit union.

By the time you finish this article, you’ll realize that you can automate at least half of your bank or credit union’s business processes. Put another way: Digital workers can perform 50 percent, or more, of your organization’s processes—and hit that stride in just six to 12 months.

Grow premiums, reduce claims leakage to preserve margin, improve policyholder service and satisfaction, and more.

Whether you’re acquiring another organization or preparing your own for purchase, maximize the efficiencies, scalability, and value of the merged entity. For 30 years, The Lab has helped executives analyze landscapes, prepare for mergers, integrate acquisitions, and drive board-level strategy via “Super KPIs”.

Take the “lite” approach to automation or analytics implementation. Go faster by selecting proven automation use cases and analytics dashboards from The Lab’s catalog shopping lists. Ideal for clients who want to start small and expand over time.

• Install cost-effective automation licensing and architecture
• Set up centralized governance, Center-of-Excellence capability
• Rapidly identify, develop, and launch high-value use cases
• Sustain bots with The Lab’s client-friendly support service
• Promote success with videos of your initiative’s automations
• Report benefits with board-ready presentation documentation

Address burning, strategic business issues with precision and speed. From adding scale for acquisitions to responding to rapid supplier-cost increases, The Lab implements targeted work plans—including process improvement, automation, and/or data analytics—to solve your most important issues.

• Rapidly respond to an urgent, strategic business need or market shift
• Jump-start a stalled internal initiative with outside expertise, capacity
• Add productive capacity for change or sudden increased work volume
• Accelerate department-level business-process improvement objectives
• Improve performance of a vital process, install E2E automation and AI

Transform your business incrementally to increase efficiency, effectiveness, margin, and more. The Lab’s two-phased implementation approach makes successful business transformation easier by focusing on proven value, ensuring organizational support, and reducing financial risk for clients.

• Map business processes to discover data-driven improvements
• Prioritize automation/AI and process-improvement use cases
• Implement across all major end-to-end business processes
• Align staffing levels to actual demand—current and future
• Generate organization-wide efficiency, effectiveness gains