The conventional method of claims processing demands significant effort and time of insurance companies for receiving, validating and assessing risks. As a result, approvals take several days and delays the entire process. This workflow further involves human-induced errors, therefore reducing the overall client satisfaction. Today, insurance organizations are realizing that Robotic Process Automation (RPA) is indispensable in making the claims journey efficient, accurate and faster and hence incorporating this latest technology in their work processes.
RPA is the usage of rules-based, low-code software “bots” to manage mundane and repetitive insurance tasks, such as collecting consumer information, extracting claims data, performing background checks, etc. From underwriting to claims processing, RPA is streamlining everyday workflow that enables employees to focus on more strategic and significant tasks, thereby speeding up processes and creating better client experiences.
Primis has empowered its P&C insurance clients with RPA solutions resulting in a seamless delivery at a reduced turnaround time and an excellent consumer experience. With RPA, we provide insights and uncover efficiencies, making the path to digital transformation fast and cost-effective. Please visit Industries to know more about our services.
RPA, chatbots, and NLP capabilities can streamline claims-related processes, which can otherwise be a labor-intensive process:
FNOL is the primary step in claims processing where the policyholder shares detailed information of the incident with the insurer. An RPA bot can guide the policyholder to submit information, take photos, etc., and enter them into the system without human intervention.
RPA-powered bots can extract data from claim submissions, classify documents, and enter the extracted data into the claims system.
Bots use algorithms to detect and identify fraudulent claims quickly.
When insureds file claims, relevant data is logged in the insurer's claims system, and the First Notice of Loss (FNOL) is issued. Tasks like data scraping, data entry, etc., are easily automated with RPA. Moreover, with advanced RPA, insurers can automate preliminary claims evaluations and damage estimates.
Primis BPO is a RPA solutions provider that enables insurers to embrace RPA services seamlessly. With our advanced RPA technologies, we deliver automated end-to-end claims processing services.
Begin your Insurance Process Automation Journey with Primis BPO today!
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