Eliminate repetitive processes
Using intelligence-based Robotic Process Automation (RPA) speed up claims processing by as much as 30%. For a client dealing with a traditional insurance companies much of the claims process f requires hours of manual effort by employees. Using RPA augmented by Artificial Intelligence (AI) removes these repetitive processes, reducing costs and saving time.
The RPA bot with AI can handle every step of claims management, including document classification, data extraction with Optical Character Recognition (OCR) for photos and handwritten text, routing to appropriate departments or representatives, data entry and invoice payment.
The bot can even incorporate existing fraud models that are triggered by high claim amounts or fatalities. These cases would then be routed to a human for further scrutiny before the claim is approved for payout. Claims are a pain point for insurance companies. It is estimated that over 80% of insurance companies include claims automation on the top of their priority list.
By using RPA combined with Natural Language Processing (NLP) for client quote requests it is possible to replace an entire labor-intensive and error-prone process with an automated intelligent data recognition workflow. The result is a fast response time and a satisfying experience for the customer.
Contact KEYVRIX to learn how to use intelligence-based RPA augmented with OCR and NLP technologies can make automating claims processing a breeze.