Intelligent Automation in Insurance
Insurance companies face challenges in their back-office operations due to extensive paper-based documentation processes. These processes, such as claims processing, underwriting, and manual policy quoting, result in delays, lower customer satisfaction, reduced business conversion rates, and decreased profitability.
Intelligent automation in insurance refers to the use of advanced technologies, such as artificial intelligence (AI) and machine learning (ML), combined with robotic process automation (RPA), to streamline and automate various processes within the insurance industry. It aims to improve operational efficiency, automate complex business process, reduce costs, and mitigate risks.