Intelligent automation will enable insurers to deliver dramatic improvements in the quality of service they provide their customers.

Intelligent automation offers insurers huge improvements in efficiency and productivity. One of its biggest benefits, however, is likely to be its ability to enhance the quality of service insurers provide their customers.

By combining artificial intelligence (AI), machine learning and advanced robotic process automation (RPA) systems, insurance providers can handle policy enquiries and applications far more quickly and accurately. Intelligent email management systems, which filter and redirect incoming emails and reply to standard enquiries and requests, and automated call-center and web-chat services, greatly improve the quality of customer services. They also cut operating costs substantially.

Quicker and more accurate claims processing, as a result of automated damage assessment (i.e. assessing damage from a photograph), data handling and loss analysis, accelerate turnaround times and can significantly enhance the customer experience. Furthermore, time-consuming activities such as checking for possible fraud can be hastened by using intelligent automation solutions with predictive analytics capabilities to identify and scrutinize dubious claims.

Using intelligent automation technology from Blue Prism we helped a major client reduce its data handling time by 40 percent and cut its processing costs by as much as 80 percent. The dramatic improvement in processing accuracy enabled the client to step up the amount of time its staff spent addressing customer needs by 43 percent.

Intelligent automation can also help insurers heighten their customer service by enhancing the performance of digital marketing and sales services. Digital distribution channels will be increasingly important for insurers during the next five years. Our research shows that 83 percent of insurers expect digital technologies to transform how they interact with their customers. A similar proportion acknowledge that digital services are changing customer expectations.

Greater use of intelligent automation will enable insurers to substantially increase the functionality of their digital channels. Intelligent digital assistants will be able to resolve a wider range of more complex customer enquiries and also sell more complicated, and often more lucrative, products. Sophisticated natural language capabilities will enable them to detect, and adapt to, the personality and mood of the person they’re interacting with. Moreover, intelligent systems will have the ability to predict the volume, and identify the type, of future enquiries and claims.

The deployment of staff-support solutions that incorporate intelligent automation will further raise the quality of service insurers can offer their customers. Highly-trained knowledge workers, backed by smart automated data retrieval and decision-support systems, will be able to better serve high-value customers and also increase cross-selling. Governance standards, as well as regulatory compliance, can also be re-enforced among employees using intelligent automation solutions that track staff conduct.

In my next blog post, I’ll discuss why insurers must put people first when implementing intelligent automation solutions. Meanwhile, take a look at these links. I think you’ll find them helpful.

Robotics in insurance: A holistic approach to automation

The promise of artificial intelligence: Redefining management in the workforce of the future

Managers and machines, unite!

Technology Vision for Insurance 2016: People First

 

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