Robotic Process Automation (RPA) is helping companies reduce costs and improve on quality and productivity by automating some of their most time consuming, rule-based and replicable business processes. RPA is especially effective in the banking and insurance sector where it brings speed and efficiency to customer service and compliance. Based on artificial intelligence algorithms, Expert System’s Cogito cognitive technology enables an automatic, human-like understanding of the content of text documents.
Applied to RPA, Cogito adds greater business value and ROI for both repetitive and complex information-intensive processes.
Using Cogito, companies can expect up to 53% savings on activities such as FTEs and warranty management, and cost reductions of 30 to 60% for email management and quote processing, etc.
The integration of Cogito features (Natural Language Processing (NLP), semantic analysis and machine learning) with Blue Prism’s RPA lets enterprises automate repetitive business processes based on large volumes of unstructured data—text email, customer interactions, call notes etc., reducing errors, improving efficiency and increasing scalability of operations.
Other benefits are:
Cost & time reduction: 24×7 availability with no downtime equals significant savings for costs and time in performing labor-intensive processes.
Increased efficiencies: A human-like interpretation of content allows for fast and accurate processing, reduced manual errors, improved quality and accuracy.
Improved customer satisfaction: Faster response to inquiries and other customer interactions.
Data extraction: Automatically access, identify and extract the relevant information in documents, forms, applications, invoices, emails, etc.
Integration: Cogito augments automation in each step of the process and is easily integrated with your existing architecture and RPA systems.
Scalability: Implementation is fast and flexible, and Cogito scales easily according to your requirements.
Cognitive technology brings smart capabilities to RPA & extends automation to activities that require more intelligence, understanding and insight.
How Cogito improves the claims management process
Thanks to its cognitive capabilities based on artificial intelligence algorithms that mimic the human ability to understand information in context, Cogito automates and improves claims processing over traditional claims technologies by capturing and extracting relevant data. Cogito:
Identifies each document type (invoices, forms, medical reports, accident descriptions, etc.)
Extracts the information regarding loss, damage or medical prognosis, etc. from the reports
Automatically analyzes the specific problem described in a report and understands if it is covered by the insurance policy
Uploads the relevant data into the claims database to support agents in validating the claim
All the information are sent to the RPA robot and it “uses” these data in the process.
About the author:
Marcello Pellacani, VP for Publishing market & Director of Expert System UK
Marcello is the VP, Publishing where he is responsible for directing products, strategy and marketing activities covering the European publishing market. He is also the director of Expert System UK where he is focused on building strategic alliances with technology partners. Formerly, he was the President and CTO of Expertweb, an advanced IT solutions developer and consultancy, where he helped double the company’s revenue in just three years before its purchase by Banzai Group (now ePrice). Marcello has co-founded numerous successful IT start-ups and has held positions at Olivetti in its Formula 1 team and at IBM. Marcello holds a degree in Mathematics and a degree in Computer Science from the University of Modena, Italy.