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How insurers can use robotic process automation to increase efficiency and improve the customer experience

Advances in digital technologies are transforming the way insurance companies operate and how they serve their customers. Automation of previously manual processes is a key element of this transformation, and is critical to driving greater efficiency and a superior customer experience.

Robotic process automation (RPA)—the use of software to mimic the actions a person would perform on a PC—can deliver significant benefits to insurers and can be implemented without complex system integrations. A successful RPA implementation can yield a 40 to 80 percent reduction in processing costs, and up to an 80 percent reduction in processing time.

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Organizations can see a payback on their RPA investments in as little as three to six months, helping transition efforts gain momentum.