53% of insurance organizations are actively experimenting or already implementing digital process automation technologies.
Why is there a need for Intelligent Automation in Insurance?
Being the oldest form of business, the insurance industry is built upon complex processes and siloed operations. These systems impact the business revenue and ROI, as they do not comply with increased customer demands for a digitized experience.
We have helped several Insurance Companies across the globe to gain a competitive edge in the market with Intelligent Automation Solutions.
Insurers can leverage Intelligent Automation for:
As per a survey by PwC, 41% of consumers are likely to change their insurers due to a lack of digital capabilities.
We have helped several Insurance Companies adopt digital capabilities.
Areas where Intelligent Automation can support Insurance
Simplifai can help you identify the right process to automate, create a business case, and get you started. We offer Digital Employee Solution that can support the insurance sector in a variety of tasks. Book a meeting with us or send us your questions – we are happy to help.
Claims handling
Front line support
Commission calculations
Payments and Policies
Document Management
Underwriting management
Value creation through deep process automation
We excel in the following:
- Data-Entry Automation
- History-Driven Underwriting Automation
- Claims Collaboration
- Email Processing
- Payment Reconciliation
- AML/KYC Automation
- Document Management and Verification
Source:
Gartner, Hyperautomation Use-Case Prism for Insurance 2022, Laurie Shotton, Nicole Sturgill, 9 May 2022
We have helped several BFSI organisations in adopting digital capabilities.
Areas where Intelligent Automation can support Insurance
Simplifai can help you identify the right process to automate, create a business case, and get you started. We offer Digital Employee Solution that can support the insurance sector in a variety of tasks. Book a meeting with us or send us your questions – we are happy to help.
Claims Handling
Value creation through deep process automation
Source: Gartner, Hyperautomation Use-Case Prism for Insurance 2022, Laurie Shotton, Nicole Sturgill, 9 May 2022
Download our e-Book on Scope of Intelligent Automation in Insurance Industry for more insights.
We offer customizable Digital Employee Solution
Digital Employee is a flexible solution that can automate a variety of tasks, work in any system, and be customized for specific insurance use cases. They can support and collaborate with your teams taking care of repetitive tasks such as coordination on inquiries, categorizing claims, validating customers, verifying policy details, archiving documents, updating systems, and much more.
Customer Success Stories with Visible Results
Claims Link is an independent claims settlement company based out of Norway. The core operations for Claims Link Customer Success Center (CSC) involves processing insurance claims.
The key challenge faced by Claims Link was shortfall in employee work capacity and reduced work efficiency in the Claims department. Spending long hours on repetitive task hampered the response time and customer satisfaction.
Today, Claims Link is using Simplifai Digital Employee, Sødde to automate customer support workflow and decision support mechanisms by intelligently processing insurance claims and archiving them.
Here are some results achieved by Claims Link with the help of our Digital Employee:
Slide 1
NH1816 save more than 80 hours per week in manual handling
Slide 2
1 Mn Claims emails to be automated in a year
Slide Title
BALIC Emailbot achieves more than 90% success for customer service.
Slide Title
Eika achieves more than 70% automation grade for their claims department.
NH1816 save more than 80 hours per week in manual handling
1 Mn Claims emails to be automated in a year
BALIC Emailbot achieves more than 90% success for customer service.
Eika achieves more than 70% automation grade for their claims department.
Customer Testimonial
“The AI solution from Simplifai will be the next step for us through its capability to read and interpret unstructured ‘free’ text in emails and several other formats of documents where RPA has limitations.”
“With the help of Digital Employees, Nh1816 Verzekeringen can organize the claims process more intelligently allowing employees to spend less time manually processing documents and e-mails.”
I must admit that I’m positively surprised by the results. It was delivered as promised (and more) in a very short amount of time. The goal was to achieve a 70% automation grade, and we achieved way more
Our Digital Employee was welcomed in the customer-service department because it performs a lot of repetitive, tedious tasks that few will miss. At Claims Link, it was met with standing applause and cake.
Achieving a smoother and more effective handling of cases is key to strengthen our customer satisfaction rate, and helps us lower our operational costs.
As per a survey by PwC,
41% of consumers are likely to change their insurers due to a lack of digital capabilities.
Want to leverage automation for insurance?
Banner-source: Gartner, Where Are the Growth Opportunities for Automation in Insurance? Laurie Shotton, 7 April 2022,
Disclaimer: Gartner does not endorse any vendor, product, or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designations. Gartner’s research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
