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Hyperautomation and Robotic Process Automation in Insurance
Why Hyperautomation
Any customer facing automation is now a top priority and there lies the opportunity for insurers to offer value-added service and create the differentiating factor to stay ahead of competition. In addition to scaling or improving the business processes, hyperautomation opens up doors for experience based innovation.
While automation is all about optimizing a process or an activity, hyperautomation is essentially an additional layer, the ‘intelligent’ automation that is added to the IT automation system. Hyperautomation is a key strategic trend for 2021.
A few key benefits of Hyperautomation are
System integration
Greater compliance and reduced Risk
Automated processes
Digital agility
Increased productivity
Advanced analytics
By 2024, organizations using Hyperautomation will see over 30% drop in their operational costs.– Gartner.
It is all about offering seamless interoperability. Hyperautomation is the seamless collaboration between technologies such as RPA, OCR [Optical Character Recognition], Business Process Management [BPM], iPaaS [integrated Platform as a Service], Artificial Intelligence [AI], Machine Learning [ML], process mining, and predictive analytics.
Read our whitepaper “Hyperautomation and Robotic Process Automation (RPA) in Insurance” to know more!
