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Robotic Process Automation in Insurance Industry

RPA) applies specific technologies to automate routine, standardized tasks in support of an enterprise’s knowledge workers. By freeing human employees from these mundane tasks to apply themselves to core business objectives, RPA offers a number of compelling benefits to the workplace. – Institute for Robotic Process Automation (IRPA) Robotic Process Automation (RPA) seems to be now crossing over the hype cycle and delivering real-world benefits in driving efficiencies, leaner processes and reducing costs and errors in processing of massive amount of demand or data driven processing systems that traditionally had a lot of human effort invested in mundane tasks. Let us take a look at some real-life business solution areas in Insurance that RPA has been able to address successfully over the last year . Insurance has some very key areas that are time consuming, data intensive as well as customer contact center based. Lot of human effort is spent on data gathering, co...

Robotic Process Automation (RPA) and Enhanced Customer Experience

In my last blog I talked about how, Robotic Process Automation leads to changing job roles and it’s effect on employees and employers. I take the opportunity to highlight the great multiplier effect a successful effect RPA implementation has on customer experience. A customer journey can be simple set of tasks or a complex journey. It could involve looking up information, filling information, time taken for processing forms or those long holds on telephone. Whatever be the forms of these journeys, we had some such poor experiences. This is where a successfully implemented RPA and related investments can enhance customer experience and eliminate customer pain points. How RPA transforms Customer Experience? As an example let us consider the customer journey for Loan or mortgage origination and processing. Traditionally it will require the customer to fill up many forms and information and submit required sets of documents. These would then be sent for processing. Someone ...

RPA and New Jobs

A few months ago I had written about the impact of RPA on traditional back-office and rule based activities performed by humans. The key impacts that are evidenced in various industries and by analysts are:           Jobs that had been traditionally “out-sourced” or “off-shored” are brought “in-house” or “right-shored”. This is evident in many “off-shored” or “out-sourced” services being bought back “in-house” or moved back to developed countries and economies.           The skill-sets needed for fulfilling the replaced jobs are not same as those that are being replaced. The new jobs are more to support and maintain the RPA. As an example if the “bot” hits an error in the process, it alerts for human intervention. This requires task to be performed by “specialized” human support, maintenance and QA – a new set of job roles. Who benefits? ·          Employers benefit from...