Discover the future

Accuracy, efficiency and customer delight with eRAS

eRAS can be used in the insurance industry to automate repetitive tasks such as data entry, claims processing, and policy management, resulting in increased efficiency, productivity, and improved customer service. It can also reduce errors, improve accuracy, and help companies to stay competitive.

Example

Underwriting

Automating the process of assessing risk and determining insurance rates, using data analysis and rules-based decision-making.

Billing and invoicing

Automating the process of generating and sending bills and invoices to customers, as well as processing payments, reducing errors and improving accuracy.

Policy Management

Automating the process of managing policies, such as updating policy information, identifying and resolving policy issues, and providing customer service.

Key Benefits

Predictive Analysis

eRAS can also be used to analyze data and identify patterns and trends which can help companies to predict future outcomes and make informed decisions.

Increased efficiency and accuracy

eRAS automates repetitive tasks, allowing employees to focus on more complex, value-added tasks, increasing overall efficiency and productivity.

Cost savings

eRAS can help to reduce costs by automating time-consuming tasks, eliminating the need for additional staff, and reducing the need for expensive IT infrastructure.

24/7 operation

eRAS can automate processes that run 24/7, allowing companies to provide uninterrupted service to customers and improve customer retention.

Improved customer service

eRAS can help to improve customer service by providing faster and more accurate responses to customer inquiries, and automating account management tasks.

Increased competitiveness

eRAS can help insurance companies to stay competitive by allowing them to process customer information more quickly and accurately, and improve customer service.

Case Studies

The Challenge

Policy underwriting, claims processing, and policy renewals processes required a large number of employees and manual data entry, which increased the risk of errors, reduced efficiency and increased operational costs.

Solutions

The solution automated the manual processes involved in policy underwriting, claims processing, and policy renewals. The solution used optical character recognition (OCR) technology to extract data from policy applications, which was then used to populate relevant fields in the company’s database.

Future

The use of AI and ML technologies in conjunction with RPA is likely to become more prevalent, allowing insurance companies to automate even more complex and advanced processes.

Which product is used in Insurance and why?

Enterprise RPA

Data entry: Automating the process of inputting customer information, such as policy details and claims information, reducing the risk of errors and speeding up the process.
Data analysis: Automating the process of analyzing data, such as claims data and customer data, to identify trends and patterns, which can help to identify areas for improvement.
Billing and invoicing: Automating the process of generating and sending bills and invoices to customers, as well as processing payments, reducing errors and improving accuracy.
Compliance: Automating the process of compliance checks, such as KYC or AML, and reporting which can help companies to avoid penalties.
Fraud Detection: Automating the process of identifying and flagging potential fraudulent activity, reducing the risk of fraud.
Underwriting: Automating the process of assessing risk and determining insurance rates, using data analysis and rules-based decision-making.
Policy Management: Automating the process of managing policies, such as updating policy information, identifying and resolving policy issues, and providing customer service.
Claims Processing: Automating the process of processing claims, including data entry, document management, and fraud detection.

Test Automation

Claims processing testing: Companies can use RPA to automate the process of testing claims processing systems, to ensure that they are functioning properly and quickly identify and resolve any issues.
Load testing: Companies can use RPA to automate the process of load testing, which is the process of testing the performance of a system under a heavy workload, to ensure that it can handle large numbers of users and transactions.
Regression testing: Companies can use RPA to automate the process of regression testing, which is the process of re-testing software after changes have been made, to ensure that the software is still functioning properly.
User acceptance testing: Companies can use RPA to automate the process of testing new software and applications with customers to ensure that they are user-friendly and meet customer needs.
Fraud detection testing: Companies can use RPA to automate the process of testing fraud detection systems, to ensure that they are accurately identifying and flagging potential fraudulent activity.
Underwriting testing: Companies can use RPA to automate the process of testing underwriting systems, to ensure that they are correctly assessing risk and determining insurance rates.
Policy management testing: Companies can use RPA to automate the testing of policy management systems, to ensure that they are functioning properly and identify any issues before they become a problem for customers.

Capability Bots

Market research: Companies can use web scraping to collect data on their competitors, such as pricing, product offerings, and marketing strategies, to better understand the market and make informed business decisions.
Public Data: Companies can use web scraping to collect data from public sources, such as government websites and news outlets, to gain insights into market trends and regulations.
Subscriber information gathering: Companies can use web scraping to gather information about potential or existing subscriber, such as their contact details, browsing history, and other information.
Sales data scraping: Companies can use web scraping to collect data on sales, such as prices and availability, from online marketplaces and e-commerce sites to make informed business decisions.
Content scraping: Companies can use web scraping to collect content from websites, such as news articles and blog posts, to share with customers on their own sites.
Claims data collection: Companies can use web scraping to collect data on claims, such as claims history and payout amounts, which can be used to identify patterns and trends and to improve claims processing.
Customer data collection: Companies can use web scraping to collect customer data from various sources, such as social media, forums, and review sites, to better understand customer preferences and improve customer service.