The Digital impact of RPA in the Insurance sector

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The Digital impact of RPA in the
Insurance sector
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The Digital impact of RPA in the Insurance sector
Abstract Driven by a new generation of consumers,
data, automation, and Artificial Intelligence
(AI), a digital first earnestness is sweeping
across the insurance ecosystem. The USD 5
Trillion global insurance market is amid a
game-changing course correction that will
re-define business as usual. Robotic Process
Automation (RPA) is proving to be an imperative
step in this transition. This whitepaper delves
on how RPA can help the Insurance industry grow
the digital way. Implementing RPA has a strong
impact on multiple segments of the Insurance
sector such as Life, Property Casualty (PC),
Auto, Business, Marine, Home, Agri, Travel,
Re-Insurance and more. This paper showcases
multiple use cases of RPA across the segments,
gleaned from the most credible research reports
and conversations with global Insurance
CXOs. Disruption Digitalization of the
Insurance Industry a COVID-19
aftermath Insurance, a relatively stable
industry, was first shaken by Insurtech, and then
hit badly due to the COVID-19 pandemic. The
former facilitated a technological shift that has
helped the global market to deal with the
negative effects of the latter. Even though
Insurtech was not as widely accepted in the
industry before, it will be a crucial aspect of
the insurance sectors recovery plan from this
global crisis. To drive digital transformation,
Insurance leaders need the right digital
platforms, a technical foundation for the future,
and an enterprise-wide agile way of working.
Technology trends like Machine Learning, AI, RPA,
and advanced data analysis are propelling major
changes in the business models to help every
player in the global Insurance industry.
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The Digital impact of RPA in the Insurance sector

Use cases of RPA in Insurance Task automation via
integration - Extracting data from one
application and making it available in another
where no back-end integration or API is
available. Enabling citizen developers -
Empowering citizen developers to build automation
scripts using low-code intuitive interfaces,
guided navigations, and easy generation of
workflow design. Administration and process
life cycle management - Reinforces governance of
automation across all use cases including
segregation of duties, data access and security
controls, as well as administration of the
environment. Augmenting knowledge workers -
Enhancing the ability of knowledge workers to get
work done, typically saving them effort by
extracting needed information to better serve
customers Read Full White Paper at
https//www.cigniti.com/resource/white-papers/dig
ital-rpa-in-insurance