Automation will bring revolution in insurance

The inaugural edition of InsurTech Integrated, convened by leading financial intelligence platform Middle East Global Advisors, will gravitate around the theme of “Harnessing disruptive technologies to thrive in a digital era”. An emerging trend, Robotic Process Automation (RPA), can emulate administrative tasks and workflows that are rule-based, repetitive and voluminous.

While its application results from the routine to the revolutionary, its effective implementation can lead to enhanced applications handling, claims processing and data entry, enabling a scalable, flexible and responsive workforce for insurers. It can help in achieving about 35 per cent reduction in cost for high volume rule-based tasks. (EY, 2016). InsurTech Integrated will pioneer discussions focused on the application of advanced digital technologies like RPA and telematics and how they could be of strategic interest to insurers