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Improve fraud detection, build faster claims processing, and create as many bots as you need with OpenBots RPA. Insurance organizations have many critical processes that can be executed by RPA bots, and with zero cost licensing, these companies can scale quickly and immediately to meet their automation goals.
Given the high-volume and repetitive nature of many insurance processes, Robotic Process Automation (RPA) is an ideal solution to help insurance companies enhance productivity and reduce operational costs while improving business efficiency.
Insurance companies have no shortage of automatable processes within their operations, however, they used to be limited to only automating a few because commercial RPA Software licensing is so costly.
To solve for this, OpenBots eliminated the cost on all bot licensing. With zero cost bot licensing there is no barrier to entry and organizations can scale quickly and elastically without concern for budget constraints.
License-free RPA can streamline a variety of operational insurance processes:
“This is not about cost savings…this is about enablement. With OpenBots, I have the flexibility to customize my automation program to suit the needs of my team and our Company.”
RPA helps policy holders gather data from various sources and compile it into a centralized document so claims can be processed faster with more accuracy.
Recent case studies show that insurance claims can be processed 75% faster with Robotic Process Automation.
Robotic Process Automation automates the process of gathering information from various internal and external resources, which alone can reduce weeks off of the overall underwriting process time. Bots can also update multiple fields across every system simultaneously to help ensure accurate, up-to-date, information and generate a report when its complete.
RPA bots have a large impact within underwriting as automation can help free up about 30% of an underwriter’s capacity. RPA also mitigates risk in the underwriting process and allows Insurance organizations to take on more clients as there is more time to dedicate to new customers.
In the insurance industry, a substantial amount of data is entered manually into various systems of record such as quotes, insurance claims, and customer information.
This is extremely time consuming and a very expensive process for Insurance organizations.
Manual data entry is also prone to errors and inconsistencies that can be detrimental for some clients.
Robotic Process Automation can easily execute data entry, and with bots, can complete the process with complete accuracy.
With OpenBots RPA, you can create automations to execute processes as such either on-premise or on the cloud allowing for maximum security and server bandwidth.
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