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The insurance industry in recent years has been heavily focused on improving processes and incorporating technology into its workflows to enhance the customer experience and increase profits. RPA for automated claims processing is one of the most effective ways to implement technology in a way that directly impacts productivity and the bottom line. There are many common challenges faced when processing insurance claims without automation, including:

  • The tediousness of entering the same data in multiple places.

  • Lack of cohesiveness between systems that are not integrated to work seamlessly.

  • Longer processing times because it relies on humans for reviews and approvals.

  • The time-consuming process of data extraction to complete forms in different programs or for different insurance types.

  • Lack of functionality for employees to be able to quickly identify what has been collected and what is still needed.

As you probably already know, much of the claims processing team’s time is likely caught up in doing tedious tasks that, while important, could be better accomplished with automation. This frees up their time to work on other tasks. Any of the issues mentioned above can result in lower customer satisfaction simply because of long wait times -- sometimes in very dire situations. All of these issues mean that more time is spent on tasks that could already be handled for the team using insurance process automation.

You may also be interested in our blog: 8 Important Benefits of Automating Insurance Claims Processing.

What is Digital Transformation for Insurance Companies?

How RPA Implementation Can Automate Claims Processing

RPA can be useful in many ways when it comes to automating claims processing. Not only does it redefine workflow and streamline entire processes, but it does so by simultaneously reducing labor costs and speeding up claims processing, and can be helpful when it comes to reconciliation. Claims adjusters are still necessary for evaluation of the information, but they don’t have to spend their time entering information gathered from a variety of places.

Additionally, regulatory compliance is always a concern in the insurance industry. RPA can help assure that you’re meeting requirements as the rules change.

In many ways, RPA removes obstacles and simplifies the work of the claims processing team so that you can operate at your fullest potential without sacrificing quality customer service. The result is a higher functioning operation that gets results in a fraction of the time.

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The Results of Automating Insurance Claims Processing

RPA implementation for insurance claims processing goes beyond data entry. There are other benefits that lead to more efficient claims processing.

  • You can create a self-service claims submission process, something that customers have stated they prefer. The data collected there can then be populated across internal systems for the claim to continue through its workflow.

  • The adjuster will also have the ability to add information from the field so that there’s less data entry later.

  • Software can be put into place that extracts information from documents and photos to provide information needed for a claim.

  • Documents can be automatically generated that are needed for claims processing and moved through the workflow.

All of these things put together create a better experience during a stressful time for customers who are filing an insurance claim. When your customer is happy with the results, they are more likely to leave a positive review or refer you to their family and friends.

Learn more about the best document automation tools for the insurance industry.

What is Digital Transformation for Insurance Companies?

Implementing RPA in Current Software Systems

You may be convinced that RPA is the way to go - but getting everyone on board, and getting it to work with your older systems, might seem like a big hurdle to overcome. Don’t let it stop you! One of the great things about RPA is that it can be customized to your systems to integrate older software with newer software and your website or mobile app. It may take an expert in RPA who knows how to work all of the various features to connect platforms, but it’s something that happens every day. And with the insurance digital transformation that’s happening across the industry, you can’t afford to be left behind.

You may also be concerned about how your team will feel about the new technology. It’s important to note that RPA’s purpose is to make claims processing easier, not to eliminate jobs of the people who are making decisions and helping customers. When new processes are put in place, you’ll also need to educate your team on what they need to do and how their job will be different. Bringing them in as early as you can will help them buy into the new ways of processing insurance claims.

What Is the First Step for Insurance Claims Automation?

You may be ready to investigate options for how to stay on top of the insurance digital transformation. Integratz is ready to assist you. Whether you’re just starting or you’ve tried implementing automation before, you can get an assessment of what would work well for you and your organization. Contact us for a free initial consultation.

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