Robotic process automation and cognitive technologies in insurance has been saved
Robotic process automation and cognitive technologies in insurance
Transforming to a customer-centric strategy
Pilot programs exploring robotic process automation (RPA) in insurance are showing positive results and benefits that go far beyond efficiency gains: The potential for robotic and cognitive automation across the insurance value chain is significant.
Brief guide to robotics and cognitive technologies
While RPA is a first step, automation is expected to be increasingly driven by cognitive technologies in insurance. Understand how insurers can redesign their operations and adopt a more customer-centric approach to take advantage of the benefits of cognitive technologies and robotic process automation.
Using robots to drive tangible business benefits is very much a reality today and the IT-enabled RPA market has been growing rapidly.
RPA in its pure form, however, is just the beginning. Cognitive capabilities that enable machines to perform tasks normally reserved for human intelligence are now being leveraged with robotics as well. Cognitive technologies include capabilities such as machine learning, natural language processing (NLP), machine vision, emotion recognition, and optical character recognition, among others. Each of these technologies builds on the existing competencies of RPA and advanced analytics, including neural networks, data mining, and Big Data processing.
The resulting combination—termed robotics and cognitive automation (R&CA) —a potent mix of automated skills with application across the insurance value chain. R&CA is expected to foster greater collaboration between human and machine by both automating repetitive tasks and enhancing the quality of jobs. R&CA technology is now poised to unlock a world of possibilities through the synergistic combination of its key components.