digital interface for customer using Robotic Process Automation (RPA)
Overview
The online insurance market is characterized with multiple opportunities for growth. This sector’s growth has been driven by the introduction of new insurance products that are focused towards online customers by the insurance companies aiming to explore the possibility of innovative technologies. Last few years has seen exponential growth in this segment with multiple aggregators in the market. Increased internet proliferation and low insured rate in emerging geographies would be the reason to see continued growth for web aggregators in the coming years.
However, at the same time, increasing competition from other aggregators and insurers selling online has seen tremendous cost pressures and need to differentiate. Increasing regulatory and compliance requirements has also brought about additional pressure to web aggregators. Quale Infotech helps bring new technologies to the webs aggregators to help them stay ahead of this fast-paced industry segment.
Success Story: Reporting and Analytics
Generating reports like Sales Incentive reports, Management Information Systems (MIS), HR Compliance, etc. require manual data collection from multiple sources. This usually causes errors and delay, and involves high costs and difficulty in accessing the accuracy.
A leading insurance company partnered with Quale Infotech to automate about 70% of the process – i.e. collection, reporting and analysis of such reports. Thereby significantly reducing manual errors and annual cost.
Features and Benefits
Introduce New Products
Web aggregators looking at expanding their business by introducing new products or new geographies can do so with reduced lead time.
Digital Customer Experience
Enhance customer engagement and retention which helps web aggregators win market share.
Non-Invasive Integration
Easily integrate with third party applications with the help of Robotic Process Automation (RPA) as an ideal solution without any intrusive connectivity.
Stay Ahead of Regulatory Compliance
Changing regulatory landscape in the insurance industry requires continuous investments, automation and Artificial Intelligence (AI) helps you stay ahead.
Analytics for Decision Making
Get deep insights from your customer data using analytics to help identify customer buying preferences and identify risks accurately.
Improve Organization Efficiency
Intelligent automation helps provide improved accuracy for tasks and improved productivity for business units.