Insurance Sector Reaping Benefits of Intelligent Automation

August 19, 2020

By Derek Notta

Greg Fritsky, Martin West, and Ben DiNapoli of EisnerAmper and Sathya Sethuraman of UiPath presented an insightful August webcast on insurance transformation using intelligent automation. They provided expert insight on the reasons companies implement intelligent automation, how insurance companies can start the transformation process, and a variety of real-life case studies.

The group presented countless benefits a company could obtain by implementing intelligent automation. Whether you are an executive or an entry-level employee, you can see its positive impact. Robotic process automation can take a defined repetitive process and perform it more rapidly, with less errors, and more cost effectively than if people were to do it. Arguably, one of the greatest benefits of automation is how it transfers the time spent on performing manual tasks to the time available to analyze information so that you and your team can spend more time growing the business, rather than doing monotonous, repetitive tasks.

There is no denying intelligent automation has numerous benefits, but it also has its challenges, many of which these experts covered during the presentation. One of the major challenges discussed was that implementing robotic process automation is a team activity. In order to get the most out of intelligent automation, you have to involve all of the departments connected to the processes being transformed and, if necessary, seek external help to fill in the gaps. By doing this, you can create an accurate road map to achieve your desired outcome.

The webcast presented by Greg, Martin, Ben and Sathya on insurance transformation using intelligent automation was extremely informative, even for those external to insurance sector. Robotic process automation is a powerful tool that is transforming how business is done in every sector. For any company not currently part of this sea change, they should consider implementing intelligent automation so as not to be left behind by their competition. 

About Derek Notta

Derek Notta specializes in Process, Risk, and Technology Solutions (PRTS) with an integral role in numerous Sarbanes-Oxley Section 404 compliance, and internal audit engagements including evaluating the design and operating effectiveness of controls.