June 24, 2022

Want to Maximize Customer Excellence? - Here’s the Tech To Consider! [Insurance]

This article aims at identifying the processes involved in the customer support department of a typical insurance company, that can greatly benefit from using Intelligent Automation.

The relationship between customer experience and overflow of routine back-office operations, heavy reliance on manual work, and outdated methods and legacy systems has now  become a key determinator to establish and differentiate one’s presence amid the rising  competition in the insurance sector. Today’s blog discusses the importance of process automation in elevating customer experience in the insurance sector. ‍


‍In an age where customers are increasingly getting impatient, and looking for immediate resolutions to their insurance related woes, the insurance sector is feeling an immense pressure to improve their services which has a massive reliance on massive paperwork that is laden with tons and tons of data. 

This calls for the insurance sector to look towards process automation. But what is process automation? Read on to know the answer..


What is Insurance Process Automation?


Insurance process automation is essentially exactly what it sounds like — the automation of the major functions or processes of insurance practices, such as policy underwriting, claims handling, customer self-service, and more. Consumers today expect high levels of speed and personalized attention, which would be nearly impossible without automated functions. Many operations in the insurance industry can be made more efficient with insurance automation, including:


  • Automating underwriting rules and driving referrals through more efficient workflow processes.
  • Automatically opening claims coverage and setting reserves based on predefined rule sets.
  • Implementing live chat functions and automatically answering customer questions and concerns in real time.
  • Automating billing and communications.

Hence, insurance process automation can help insurance companies do away with many erroneous and time-consuming manual verification processes, to delight customers with a shorter response time and instant resolution of their service requests.


What a Typical Insurance Use Case looks like?


Let’s take an example of a customer’s endorsement request for an address change in his policy. The typical process entails an agent downloading the request form along with attached KYC details, validating the authenticity of the customer information from databases and manually entering this information into the CRM - an approval process that takes approximately 3 - 5 business days.


Now, consider a scenario where an intelligent document is capable of processing and automating this entire complex, boring and error prone manual process. 


Yes, you read that right. 


VisionERA is an intuitive, state of the art IDP platform that can aid insurance companies do away with painstaking manual processes such as claims processing, policy management, regulatory compliance, underwriting,etc.  This means it can prove to be a boon for the insurance industry which otherwise relies heavily on collecting different types of data, both electronically and on paper. 


Such mixed data formats and sources  mean that employees in insurance companies need to spend a lot of time in data entry jobs, which can make it very challenging to handle the information efficiently and even cause manual errors sometimes. Using legacy applications can also lead to operational inefficiencies in the modern-day scenario for insurance providers, not to mention the additional costs of managing administrative roles. As insurance companies need to deal with several repetitive back-end processes, it can be very labor-intensive and time-consuming, leading to decreased employee morale and low productivity.


Automation Potential in Insurance

Insurance Business Processes can be broadly classified under three categories – Transactional, knowledge-based and strategic processes.

Transactional Processes Transactional Processes

These include processes such as data entry of risk and claim information, automated underwriting and claims settlement for simple, standard cases, communication letter generation etc. have very high potential of automation.

Knowledge-based Processes Deep Learning Models

Knowledge-based processes that require some intelligence like underwriting & claims decision for medium complexity cases, policy change requests involving financials, renewal processing, coverage query resolution, can be partially automated, with limited intervention from generalist underwriters and claims adjusters.

Strategic Processes Strategic Processes” width=

Strategic processes, such as sales, underwriting and claims decisions for large and complex risks, risk inspection, loss verification, which are intellectually more demanding are best to be done by specialist underwriters and claim adjusters.

We help Insurance Companies Say Goodbye to Paper-Work!

‍VisionERA is an intuitive, self learning, intelligent document processing platform that can help the insurance sector process unstructured data in a short span of time by eliminating repetition of the same routine tasks over and over again that actually  hinders human concentration, resulting in errors and creating serious inconsistencies in company records. 


Our AI capability combined  can process a wider variety of insurance documents more precisely, and can automate many insurance processes end-to-end. We do this by downloading, classifying, and compiling data from many sources. Post this, our IDP platform reads, sorts, analyzes and extracts similar data from different sources such as scanned agreements, scanned transcripts, etc.


How can VisionERA achieve all this for you?


VisionERA has been designed by our experts by blending many capabilities such as:


* Out of the Box, Self-Learning Model Out of the Box, Self-Learning Model
* Deep Learning Models Deep Learning Models
* One-shot Retraining One-shot Retraining
* Industry Beating Table Detection Industry Beating Table Detection

Let Insurance Process Automation Lead you to the Future

The value of effective intelligent document automation in the insurance sector holds an important significance to sustain a hygienic customer relationship. Automation is transforming the Insurance sector by categorizing and decoding a flurry of unstructured data into comprehensible structured data. Thus the value of accurate and diligent automation that can effectively handle all insurance related woes cannot be underestimated. 


How can Email Automation be Linked with IDP?

We realize the powerful combination of IDP and Email automation and the immense benefits it can provide to the insurance sector. Our IDP capabilities  when combined with email automation can help insurance companies manage and proactively respond to a myriad of document communication tasks. IDP capabilities mixed with email automation features can make it possible for the insurance industry to automate  a myriad of tasks such as notifications and alerts, payment and invoice information, acknowledgement of  receipts, status and follow-up updates and much more- all automated via email.


All this can thereby help streamline data intake while reducing validation time, making it possible for the insurance sector to proactively keep customers in the loop with automated notifications and status updates. It  can also enable internal teams to align and manage responses in a unified brand voice.



About us: We provide a complete enterprise automation solution for document processing use cases. Our IDP (intelligent document processing) platform ‘VisionERA’ has the capacity to automate entire organizational workflows end-to-end for huge volumes of structured to unstructured data. 

It is an industry and use-case agnostic solution that can be molded as per organizational requirements and goals. It also offers the capability to integrate with your email automation system along with other downstream applications (CRM, CMS, ERP)

Note: Interested in getting your hands on VisionERA? Here is a great opportunity for you. We are offering our product at $0 to our customers. It includes all the early adoption charges and subscription fee. Want to learn more about the platform in detail, click here.

To try VisionERA by yourself? Use our free trial to upload your documents.

You can also set up a full-fledged demonstration with our automation experts, to do so simply click on the ‘schedule a demo’ button.

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