As a leader in the Robotic Process Automation (RPA) software industry, UiPath is a driving force behind the Fourth Industrial Revolution with its end-to-end platform for automation that enables organization across all industries to scale digital business operations at unprecedented pace. In a series of editorials, UiPath will share their vision on Automation in Insurance, sharing use cases, lessons learnt, governance, top tips and much more. In this first editorial they cover the first prerequisite of automation: purpose.
Insurance can profit hugely from automation like RPA. But to do so, a few conditions must be met. It is important to align automation initiatives with business strategy and goals, while at the same time keeping projects within reasonable limits. And, most importantly, execution has to follow the same principles as change programs. People are at the centre of enabling and unlocking the benefits of this technology. They need to embrace the ‘what’ and ‘why’ to make automation programs go beyond task automation to enterprise-wide automation.
When looking more closely at the automation initiatives of the early adopter insurance organizations, one cannot fail to see the lack of strategic direction. A lot of these initiatives with task automation in the back office because of the ‘tactical’ need and the low customer impact. Obviously, as automation - as a potential solution to typical business challenges - was not known to the line of business, and compliance is top of mind at insurances, attention and funding was low.
But to reap the full benefits of automation, programs should be enterprise-wide and part of strategic transformation projects in insurance companies. To put it bluntly: the truck is coming, and you cannot escape it. Research shows insura">
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