Startups to Watch
Insurers are turning to Robotic Process Automation (RPA) to cut costs and streamline processes amid the Covid-19 pandemic.
Insurers face a number of economic pressures right now, from slowing sales to lower interest rates, which harm the earnings of life and annuity insurers. As a result, these companies must quickly adjust their cost structures to stay afloat.
Robotic Process Automation (RPA) solutions can help. They eliminate manual work and reduce costs. Processes such as sorting, data entry, data validation, and document routing are often based on paper-based workflows which are labor-intensive. Insurers save money by using RPA to automate tasks in claims, underwriting, sales, and service areas.