Robotic process automation has disrupted the insurance industry by streamlining operations, enhancing customer experience and improving employee productivity. This AI driven automation process replicates repetitive organizational activities like manual back-office and customer facing tasks. The processes in insurance companies are often duplicated, manual, bureaucratized, and time-consuming.
Modern technologies driven by machine learning and artificial intelligence can automate operations in insurance companies thereby cutting costs and increasing productivity. Manual tasks in insurance result in time consuming application and claims processing. This can be crucial in retailing customers and gaining new ones. RPA has provided a light at the end of tunnel as it promises a significant improvement in operational efficiency, reducing claims processing costs in addition to full compliance with regulations.
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