Build a sustainable insurance business with intelligent automation

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Transform your insurance business from the inside out with enterprise intelligent automation

Intelligent automation is becoming a critical business solution to help insurance companies build a sustainable and agile organization for the future. With growing competition, a shifting regulatory landscape, higher expectations from customers and other forces such as climate change in play, a different approach to managing operations has to be on the cards.

An enterprise digital workforce from Blue Prism works within your organization to transform functions, making them more cost efficient, productive, innovative, and motivating staff by removing time-consuming administration.

What can intelligent automation do for your insurance business?

Insurance companies have long invested in automation to drive efficiency and productivity. Blue Prism has worked hand-in-hand with insurance companies in areas such as claims processing, underwriting and customer services to reduce costs, increase productivity and reduce average handling times. The benefits of RPA have extended into AI skills such as Natural Language Processing, Machine Learning and OCR and automation management tools and channels to create an end-to-end automation experience. Ultimately this enables insurance providers to expand their products and services with personalization, flexibility and speed.

Financial sustainability

  • Reduce operating costs
  • Increase productivity
  • Resource effeciently
  • Work better with legacy systems
  • Competitive advantage

Customer experience

  • Faster, more accurate quotes
  • Faster policy creation
  • Seamless policy changes
  • Settle claims faster
  • Better communication

Business complexity

  • Improve and standardize processes globally
  • Better coordination with regions and divisions
  • Streamline complex operations
  • Work efficiently with 3rd parties

Operating model

  • Remove silos
  • Standardize processes
  • Improve back office efficiency
  • Change work for your people

Regulatory compliance

  • Reduce financial exposure
  • Lower risk of reputational damage
  • Comply with new regulations faster
  • Accurate and auditable compliance

Fraud and governance

  • Detect and prevent fraud earlier
  • Generate accurate premiums
  • Reduce void claims and policies
  • Reduce human workload
  • Standardize governance
Select A Business Function
Operations
Operations Fraud & Compliance Customer Experience

Create cost effective, efficient and productive underwriting, claims, and back-office operations

Operational transformation has been proven to reduce operating costs globally in insurance organizations. Putting intelligent automation at the center of that transformation changes operations from the inside out. Blue Prism’s enterprise digital workforce is positioned to work with any function or team to support core business processes. This not only generates cost savings and increases productivity, but it also provides a stable platform for innovation.

Claims

From FNOL, to adjustment, to settlement, a digital worker can automate the entire journey or work with your people to automation parts of it. We can also work with technology partners to include elements such as fraud detection

Underwriting

Whether you sell directly to customers or through brokers, a digital worker can automation key parts of the process. Generate faster quotes and policy documents, validate and reconcile customer details, more accurate pricing, better connectivity with brokers and 3rd parties, faster data analysis and risk assessment.

Customer service

Reduce the volume of calls to customer service agents, reduce the time of calls, help agents work more efficiently with systems, connect disparate comms channels, standardize customer data into a single source of truth, process customer documentation quickly.

Back office

Automate invoicing, reconciliation, reporting, payroll, and other finance tasks. More efficient recruitment and onboarding of new staff. Streamline IT processes and project management. Speed up data mining and analysis for actuarial and pricing teams.

Reduce fraud and stay compliant

Insurers are seeing a steady rise in fraud, and in a highly competitive market mitigating losses from fraud can make a big difference. Intelligent automation uses AI and data analytics tools to implement robust fraud detection and prevention processes. Compliance and keeping up with new regulations from the financial authorities is also critical, and digital workers are a valuable resource to keep compliance costs down and standards up.

Fraud detection

AI-enabled digital workers detect fraudulent documents and data at quote, purchase and claim.

Compliance processes

Automatically cross-check multiple systems for compliance assurance. Automate time consuming parts of compliance processes in collaboration with your compliance team.

Fraud prevention

Digital workers check claims histories, personal data and other sources to improve fraud prevention at the time of purchase.

Compliance reporting

Digital workers can prepare reports and send them to the regulator. They will gather and sample customer data automatically and streamline reporting on compliance and rules of sale.

Create exceptional customer experiences with a digital workforce

Customer retention is a challenge across the insurance sector, and the experiences of existing customers have a direct impact on new business with publicly available reviews and ratings. Creating exceptional customer experiences is critical, and intelligent automation is already helping our insurance clients to do just this.

Customer onboarding

Enable new customers to apply for and receive accurate quotes quickly, and purchase with ease. Automate KYC and compliance checks.

Easy MTAs and customer service

Digital workers support your policy administration processes, allowing for instant MTAs, cancellations and response to general enquiries.

Contact center efficiency

Help your agents provide better customer service by supporting their use of systems and data, taking simple enquiries off their hands, and picking up claims FNOL and communications, letting them focus on the customers that need real assistance.

Broker connections

Create smoother collaboration between broker and underwriter to provide faster risk assessment, quotes and insurance documentation to the end-customer.

Dispute referrals

A digital workforce enables automated data collection and hand-off to third-party legal, in cases of disputed liability. It can also help connect data between other third-party companies involved in managing a claim.

Central source of truth for data

Ensure customer data is consistent across systems, allowing for greater pricing accuracy and simpler management of customer records for GDPR and other regulatory purposes.

Want to know more?

We support your business across its functions. Discover the benefits of RPA applied to your challenge in the insurance sector.

Speak to a consultant

Why choose Blue Prism intelligent automation?

Smart digital workforce

  • AI-enabled digital workers
  • Automation Lifecycle Management tools
  • Process design & capture
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Scalability

  • Re-usable & sharable objects/processes
  • Simple to add more digital workers when needed
  • AI workforce manager to manage bot utilization
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Get started quickly

  • Full support from our team
  • Stand up the platform at speed with cloud
  • Robotic Operating Model (ROM®)
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Secure and stable

  • Fully secure infrastructure
  • Platform stability SLAs
  • Meets all industry security standards
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Compliance

  • Comprehensive irrefutable audit logs
  • End-to-end process history
  • System & process execution audits
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Partnership

  • We work with you to achieve your automation goals
  • Extensive partner network
  • Drop-in AI and technology from our Digital Exchange
Learn more

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Aviva improves customer experience with intelligent automation

Hear Andrada Covaci, Head of RPA for Aviva, explain how Aviva has automated end-to-end processes which have had a direct impact on their customers’ experiences. Aviva, an insurance company, is using Blue Prism RPA across all of their lines of business.

Find more customer stories here.

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