What is RPA in Insurance?
The insurance industry is known for its traditional and inflexible nature, but with increasing customer demand for digital transactions, companies are turning to advanced technology solutions. It is estimated that by 2025, nearly 50-60% of back-office processes in the insurance industry can be automated, resulting in significant time savings. Robotic Process Automation (RPA) is a widely adopted technology that is helping insurers meet customer expectations and deliver exceptional customer experiences.
RPA in insurance involves using rule-based software bots to automate repetitive tasks, such as extracting data from customer documents like claim forms and policy documents. This automation helps insurers improve efficiency, speed, and overall customer satisfaction.
