Robotic Process Automation in the Insurance Industry

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According to research conducted by Accenture, ‘Unleashing the potential of intelligent solutions could yield a $10- to $20-billion profit boost for the North American insurance sector.’

If we talk about Life Insurance specifically, according to KPMG, ‘India alone books about 360 million life insurance policies in a year which makes it one of the biggest markets of life insurance in the world, which is expected to increase at a CAGR of 12 to 15 percent over the next five years.’

The industry is witnessing a rapid expansion on a global scale and Robotic Process Automation can empower insurance companies to cope with the change. Robotic Process Automation (RPA) in the Insurance industry has proven to be a game changer when applied to core processes such as claim management, underwriting, policy acquisition and services, and back-office operations.

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