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Robotic Process Automation

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RPA Technology

Robotic process automation (RPA) is the use of software robots (or ‘bots’) to automate business tasks. To be a good candidate for RPA, tasks should be manual, rules-based, and repetitive.

Robotic process automation doesn’t just make your employees more efficient - it also makes the underlying processes more efficient too.

Using RPA, businesses can streamline processes to eliminate repetition, consolidate information, and standardize tasks. This improves process efficiency, as RPA can be used to complete several tasks simultaneously: in parallel, rather than in sequence. This also makes processes scalable to accommodate business growth.

Benefits of RPA in the Insurance Industry

Insurers undergo many manual but critical processes involving disparate systems. RPA can help streamline and automate these processes without changing large amounts of legacy code.

In doing so, RPA can help insurers cut costs in critical departments like underwriting, claims, and regulatory and compliance, as well as expedite policy decisions.

RPA fits into existing software, processes, and procedures. This means that it accommodates legacy software, without requiring expensive upgrades, integrations, or retrofitting.

Key outcomes that RPA solutions provide the insurance industry:

  • Eliminate the need to rekey the same data into multiple/different systems
  • Reduced time and effort on simple, manual tasks
  • Reduced operational costs
  • Enable employees to work on more important tasks
  • Faster policy decisions for existing and prospective clients
  • Expedited customer service outcomes
  • Improved internal process outcomes
  • Eliminate manual errors and data inconsistencies through rule-based decisions

Solartis use of RPA in our Business Process Outsourcing.

When RPA is applied to Insurance Business Process Outsourcing (BPO), it makes the outsourced processes more efficient. Tasks are completed more quickly, with fewer errors and with minimal human involvement.

RPA within the BPO sphere helps an insurance business make the most of its BPO investment. It combines both technology and people skills to provide the most cost-effective and efficient process for all repetitive insurance administrative tasks and activities.

Examples of how Solartis uses RPA as part of our BPO Services

1. RPA is used in our Submission Clearance Processes:

How it works
  • A Large number of submission requests are received from the Solartis customer to be cleared in their system.  
  • RPA is used to extract specific data from the request into a queue to be worked (first in first out). 
  • If needed, missing data can be manually entered by a Solartis team member prior to final clearance. 
  • RPA then clears the risk and sends an acknowledgment email. 
Result/ Benefits: Automated, Accuracy, Faster Processing, Improved Customer Service

2. RPA is used for re-keying of data that contains lots of entry points

How it works
  • Using RPA, Rate sheet data is scanned and electronically entered into an Excel spreadsheet. 
  • If needed, missing data is manually entered by a Solartis team member. 
  • Once all required data points are complete, RPA electronically enters the data points into the applicable database/system 
Result/Benefits: Automated, Faster processing, higher quality, no user errors

Learn how RPA + Solartis BPO operations can help you today.

Contact a member of our team.