A large insurance provider opted for RPA for the following processes & objectives:
We automated underwriting process that dealt with 185K new application for individual health and optional benefits. Underwriting is a long and tedious process. Much data needs to be collected from various sources. Automation of this data collection reduced the time it took to gather the information, as well as populate fields/data entry saving 120K hours of manual work with $1.56M in savings.
The rating and quoting process was very labor-intensive as well. RPA assisted in manual data entry and activities.
Policy cancellation is a redundant task. This process was done using RPA and reduced the transaction time to just a third of the current time.
There are many tasks in the distribution process where RPA assisted: