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RPA Use Cases

GET COVERED WITH 50 RPA USE CASES FOR INSURANCE

Streamline core insurance processes like reconciliation process, accrual process, invoice creation, endorsement processing, etc. with Robotic Process Automation (RPA) and achieve operational efficiency.

Robotic process automation RPA Use Cases in Insurance industry
No Claim Bonus (NCB) Management Using RPA Automation - Use Case

No Claim Bonus (NCB) Management

Verify the NCB slab for policies issued on a daily basis by referring the claim status for previous policies. For private sector, receive the status by email. For public sector visit the central insurance authority site. Update the system accordingly and notify the customer.

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New Policy Issuance Process Using RPA - Use Case in Insurance Industry

New Policy Issuance

Reconcile the data received from the different policy issuing channel partners, generate a payment ID in the core insurance system, and tag the payment id against the policy. Create and upload a consolidated file to the core insurance system. Read exceptions to generate a consolidated exception report.

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RPA use case for insurance industry - General Ledger Reconciliation

General Ledger Reconciliation

Download Excel-based reports from case management system and general ledger, reconcile data on various parameters and then re-upload the data to the case management system.

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Payment Reconciliation - Robotic Process Automation RPA in Insurance Sector Use Case

Payment Reconciliation

Reconcile the data received from the payment receiving bank, policy issuing vendor, and the insurer and update the core insurance system. In case of cheque bounce, log into the vendor system and cancel the policy, else update the cheque number. Resolve exceptions manually.

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Manual Policy Issuance Process using RPA Automation - Use Case in Insurance industry

Manual Policy Issuance

Automate receiving of the premiums maintained in Excel file by collating the inputs received from different sources.

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Invoice creation using RPA in Insurance Industry Use Case

Invoice Creation

Auto-read the Excel file in the shared folder for details and store in the database. Log in accounting system such as SAP and update the data. Repeats the steps for all records in the input file and email to the stakeholders.

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Group Policy Issuance Process using RPA in Insurance Industry Use Case

Group Policy Issuance

Automate the issuance of group policies to corporate clients and perform almost 50 transactions comprising elaborate workflows on a daily basis.

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RPA Use Case in Reconciliation Process of Insurance Industry

Reconciliation Process

Upload un-reconciled bank transactions from core system and daily bank statements, execute transaction matching process, post to the core system, prepare bank reconciliation statement and post Journal Adjustments to the general ledger.

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Insurance Receipt Updation Process using RPA Use Case Example

Insurance Receipt Updation

Access the helpdesk site and download the service request attachment. Check the amount mentioned in master data Excel file and service request. In case of mismatch, stop the process and email to the concerned team. Log into statistical analytical system and download the three Excel files used for creating the master data file, retrieve the required details for further uploading to final site, and create insurance receipt.

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Tax Compliance Process in Insurance Industry using Robotic Process Automation (RPA) Use Case

Tax Compliance

Automate various registers such as Premium Register and integrate with the Application Service Provider (ASP) tool. Also automate the TDS (Tax Deducted at Source) ledger and TDS Master processes.

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MDM Party ID Creation - Robotic Process Automation (RPA) Use Case in Insurance Industry

MDM Party ID Creation

Create Party ID for master data management pertaining to all the policies of a particular entity, which are issued in Manual Premium Register that is prepared and stored in the Excel database.

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Installment Tracking Process in Insurance Industry using RPA Use Case

Installment Tracking

Track installment due date and automate generation of installment letter at pre-defined intervals from the core insurance system.

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Marine Declaration - RPA use case in Insurance Industry

Marine Declaration

Update Marine Declaration in core insurance system, maintain Balance Sum Insured, and generate declaration reminder letters at pre-defined intervals.

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NTU Automation - Robotic Process Automation Examples in Insurance

NTU Automation

Automate end-to-end policy issuance. Perform data sanity check and validate the data received in Excel sheet, convert into standard upload format, and upload in the core insurance system for policy document creation. For the applications not taken up (NTU) for pre-defined reasons, generate another Excel file, upload in the shared folder, create and blast intimation emailers to the concerned applicants through a series of approvals.

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Endorsement Processing in insurance industry using Robotic Process Automation (RPA) Use Case

Endorsement Processing

Automate endorsement issuance. Take change requests from customers via email or voice calls and then auto-update the policy in the system.

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64VB Clearance - RPA in Insurance Industry Use Case

64VB Clearance

Auto-create the working data for not taken up (NTU) policies, tag with the NTU 64VB clearance, and upload on the portal, if the premium payment in cheque is not realized in full .

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Premium Accounting Process in Insurance using RPA Automation Use Case

Premium Accounting

Automate the premium accounting, claims booking, unclaimed amount due to policy holders, and NTU (Not Taken Up policies) reconciliation.

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Tariff Minus Rates Upload Process using RPA in insurance industry Use Case

Tariff Minus Rates Upload

Upload Tariff Minus Rates in the insurance portal.

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Accrual Process in Insurance Industry using Robotic Process Automation RPA Use Case

Accrual Process

Automate the accrual process. Sequentially open monthly and yearly reports from the shared folder, copy the data in a step by step manner for renewals and actuals. Update the Forex and production files as per business rules and send email to the concerned people.

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Discrepancy Resolver Process using RPA in Insurance Industry Use Case

Discrepancy Resolver

Synchronize the spreadsheets of two or more departments and reconcile any differences.

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Contract & Claims Process in Insurance using RPA Automation Use Case

Contract & Claims Process

Automate the contract and claim submission and reduce the number of times a single document is handled by an employee. Scan or capture the paper documents to a document management solution (DMS). Auto-propagate documents received in email or fax to the DMS.

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RPA Automation in Insurance Claims Processing Use Case Example

Claims Processing

Collect significant amount of paper-based data from external stakeholders and customers, scan and processes hard copies of documents, review and sort email attachments in folders.

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Robotic Process Automation (RPA) in insurance Underwriting Use Case Example

Underwriting

Automate the movement in and out of legacy system and modern core insurance systems while performing multiple steps. Conduct two-way data transfer for verification of corporate identities, policies, employee identification for underwriting, and open requirements for underwriting.

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Member Data Upload using RPA automation in Insurance Industry Use Case

Member Data Upload

Push member data upload for policies with hefty data count into the core insurance system. Reduce manual intervention and hence error.

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Claims Data Processing in Insurance using Robotic Process Automation (RPA) Use Case

Claims Data Processing

Automates the claims handling and management through RPA and effectively manage the increased claim volumes.

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Claims Adjudication - RPA in Insurance Industry Use Case

Claims Adjudication

Automate claims handling related to various ailments and the related adjudication processes. Reduce pressure on the human staff, accelerate the adjudication by reducing instances of false negatives, and improve the turnaround time.

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Claims First Notice of Loss - RPA Use Case in Insurance Industry

Claims First Notice of Loss

Auto-create a formal claim request as well as generate and send the acknowledgment letter to the insured.

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FMLA Leave Management in Insurance Industry using RPA Use Case

FMLA Leave Management

Automate processes such as claim creation, validation, approval, denial of requests, return to work notices, letter generation, and responses. Reduce the pressure on staff for processing claims under Family Medical Leave Act (FMLA)..

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RPA Use Case for Claim Support in Insurance Sector

Claims Support

Use RPA bots to pre-assess claims. Offer real-time Q&A support to customers. Augment loss analysis and meet compliance requirements. Scale up in a limitless manner during peak volumes and peak hours. Convert unstructured data to usable data formats. Lower operating costs. Auto-compile data from multiple systems. Auto-compile data from multiple systems and flag errors.

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Bulk Payments in Insurance Sector using RPA Automation Use Case

Bulk Payments

Automate data entry into key insurance processing systems, download policy holder data from multiple sources, scan and read the data. Auto-compile data from multiple systems, verify insurance period, flag mismatches and errors. Generate alerts, provide approvals, offer all-round view of available data to customer support staff and facilitate bulk payments to approved beneficiaries.

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RPA automation for Bulk Recoveries in Insurance Industry - Use Case

Bulk Recoveries

Engage RPA bots to reduce processing costs. Automate repetitive processes across multiple systems. Automate data validation and improve claim processing speed by up to 70%. Reduce error rates in claim processing by 60%. Identify policy premium discrepancies. Conduct compliance checks and initiate bulk recoveries.

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Deceased Notification using RPA in Insurance Sector - Use Case

Deceased Notification

Standardize processes, ensure legacy system compatibility, trigger automated notifications, and generate reports for deceased cases. Reduce human intervention and improve turnaround time.

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Premium Calculation in Insurance sector using RPA Automation Use Case

Premium Calculation

Evaluate risks associated with prospective clients and decide the premium that needs to be charged for insuring the risk. Automate data gathering from both internal and external systems and entry of relevant data to internal sites. Perform report generation and ensure a comprehensive risk assessment

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Customer On-boarding in Insurance sector using RPA Use case

Customer On-boarding

Gather data such as company name, industry sector, and contact persons from public listings and fill parts of forms. Minimize paperwork done before signing a contract.

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RPA for Credit Card Payment Reconciliation in Insurance - Use Case

Credit Card Payment Reconciliation

Reconcile credit card payments with policies in order to verify whether correct payments have been received. Reduce errors and increase efficiency

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RPA Automation for Life Insurance Claims Validation Use Case

Life Insurance Claims Validation

Automate the process of entering claims data by validating death certificates on government websites. Eliminate manual efforts, reduce errors and increase efficiency.

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Data Transcription in Insurance Sector using RPA - Use Case

Data Transcription

Reduce the overhead of customer service by around 25 percent by automatically transcribing data from emailed policy-change requests into core systems. Expedite the process and increase efficiency

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RPA for trade deal underwriting Reconciliation in Insurance - Use Case

Trade Deal Underwriting

Use RPA bots to collect data from different silos to perform underwriting related processes pertaining to trade deals and corresponding risk mitigation and management. 

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Document Chasing - RPA in Insurance Use Case

Document Chasing

Use RPA bots to chase claims information from third parties. Use intelligent document processing and RPA to match policies and documents and assign tasks and cases to users after receiving information. Improve claim processing cycle time and improve cash flow. 

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Third Party Look-up - RPA Use Case in Insurance

Third Party Look-up

Verify information from third parties such as courts and municipal corporations to support or commence claim processing. 

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Disputed Claims - RPA for Insurance Use Case

Disputed Claims

Use RPA, Analytics, and AI/ML to analyse customer response and supporting documents and decide the resolution for disputed claims towards improving the certainty in claim resolution. 

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Third Party Verification - Use Case of RPA in Insurance

Third Party Verification

Use RPA bots to support tasks such as searching external websites and databases to verify information related to licences, registrations, etc. Accelerate administration and improve SLA servicing.

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Contract Review - RPA Use Case in Insurance

Contract Review

Use RPA bots to identify repeated clauses and other anomalies. Reduce time to review contracts and improve accuracy.

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RPA for Document Verification Process in Insurance

Document Verification

Expedite processes that depend on documents that need to be retrieved from various cross sections and verified. Go beyond document matching and verification with the help of RPA bots and NLP. Auto-classify documents or re-open cases when all the requisite documents are retrieved through auto-reminders.

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New Business Bulk Data Entry - RPA in Insurance Use Case

New Business Bulk Data Entry

Use RPA bots to speed up the data entry process related to group insurance, key in or update member data as well as contract details from Excel sheets provided by institutional clients.

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Data Collation for AML Checks - Use Case of RPA

Data Collation for AML Checks

Use RPA bots to collate details from different systems for AML or KYC checks while processing new business cases or claims in the insurance domain.

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Automate Identity Document Processing - RPA Use Case

Automate Identity Documents Processing

Read client identity documents with intelligent document capture and complete application forms using RPA bots during the onboarding.

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Due Premium Chaser - RPA Use Case for Insurance sector

Due Premium Chaser

Chase the due premium amounts with RPA bots. Use intelligent document capture and RPA bots to match documents to the policy records and send payment reminders till payment is received.

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Regulatory Compliance Data Collection

Regulatory Compliance Data Collection

Retrieve both internal and external data related to customers and provide a complete view for due diligence requirements.

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Risk Score Calculation - RPA Use Case for Insurance

Risk Score Calculation

Combine internal insurance information with external data sources to formulate a personalized risk score for institutional clients and individuals.

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Top 8 RPA Use Cases in Insurance Sector
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Top 8 most popular RPA use cases in Insurance

A list of 30+ processes that can automated with RPA

Industry level proven case studies

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