Australia: Insurers need more than robotics process automation
Source: Asia Insurance Review | Sep 2019
Insurance organisations need to begin to integrate tools other than robotics process automation (RPA) when it comes to differentiating themselves from competitors in smart automation, according to IAG automation evangelist Probir Dutt.
Other tools include natural language processing, chatbots, machine learning and algorithms, he said at a recent conference.
He predicted that insurers will introduce smart automation firstly to ‘low-hanging fruit’ areas including claims, billing, and under-writing, before moving onto other aspects of the business such as customer service, sales, product and pricing and regulations, according to ZDNet which reported on his speech.
Eventually, Mr Dutt believes, smart automation applications will be so sophisticated that augmented reality could be used to illustrate to car insurance customers how dangerous it is to use mobile phones for driving or chatbots become more proactive through adaptive learning.
“Most enterprise functions are going to be affected by automation in some way, shape or form. There will be very few functions that will be 100% automated and there are some functions that won’t be automated at all,” he said. A