tremendous manual steps makes stress on the overall system ,
especially during the CAT claims
most of the times customer think - in FNOL the FE system is tied back to the BE system,
but that is not the case there may be manual intervention to complete the FNOL
institutionalized the claims processing - so it can reduce the burden on employees
knee jerk reaction for insurance customers is that they need to buy a new PAS or claims system.
But this is not transformation (they do not bring that value now), because most of these software’s are just data recording machines
After the first roll out they believe that the turnaround time has not increased, new products cannot be introduced, and existing systems are broken
Pega RPA wants to take the transformations process and breaks it down into steps
it seems as per the speaker, most insurance clients are doing the RPA right now, as it is low hanging fruit, but it is one more element is the data integration strategy
Robot and EPA is not a silver bullet but it is a great first step to start
life insurance companies generally do not retire the legacy systems until the insured customers have not been paid out or the insured customers have not collected their benefits
key is the robotic automation strategy should definitely blend in with transformation strategy
IT is the guardian angel to make sure that they provide the tools which will enable the operations to handle and control the robotics process automation
RPA is strategy to use tactical tools of a broader strategy, doing RPA is a cost-benefit analysis
Robots is the buffer between the user and underlying system (mostly legacy)
