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RPA Providers to Insurers: We’ve Got You Covered!

Posted by Francine Haliva on Dec 1, 2016 4:38:08 AM

The best insurance companies know that it takes more than just competitive prices to succeed; they also work hard to offer their customers versatile coverage options and superior customer service.  At Kryon, we’ve gone to great lengths to create an RPA platform that will help insurers accomplish each of these crucial objectives.  In familiar terms – we’ve got you covered!

When you think about RPA, the first thing that comes to mind is automating manual tasks that are time consuming and error prone. Most insurance companies’ back offices are replete with repetitive, rules based processes, providing endless opportunities to utilize RPA effectively.  A classic example is claims processing which depends heavily on manual labor. Once RPA is deployed, software robots can work 24/7 with amazing accuracy, thus eliminating the margin of human error, increasing processing efficiency and cutting operational costs. 

But there are other RPA use cases for the insurance industry, beyond the back office.  As the RPA market matures, more intelligent and powerful RPA solutions such as Leo RPA are offering a wider range of functionality to cover more automation processes, and provide even more value. For example, Leo can be deployed to work ‘unattended’ on a virtual machine (traditional RPA) or it can be deployed on an employee’s desktop to provide ‘attended’ automation for tasks that cannot be fully automated.

With 'attended' automation, agents can choose the type of support they want to receive by selecting:

a)    'Guide Me' mode: Leo navigates the user through the process by pointing out the next step and providing necessary support, information, and guidance. 

b)    'Do It' mode: Leo automates tasks by controlling the user’s mouse and keyboard and drives the target application to complete the desired task.

Just imagine the possibilities when you consider the vast numbers of agents and customer service employees that are a vital part of any insurance organization. Let’s take a closer look at how Leo's RPA platform can be used to improve human workforce performance using 'attended' automation:

1. Agents can provide faster, better customer service

With increasingly complex systems, new technologies, and the vast amounts of data available, today's insurance agents often spend considerable time tinkering and searching for information and re-keying data into multiple screens.  This frequently results in long average handling times (AHT), frustrated agents, and irate customers.  

Using Leo, as soon as the agent takes the call, relevant customer information is displayed based on the user’s open and active window/application.  Balloon tips can be used to guide the agent on what to say to the customer, what questions to ask and troubleshooting. Tedious, repetitive data entry can also be completely automated.  As a result, agents can perform tasks quickly and have the time and patience to concentrate on providing excellent customer service.

Also read: How to Provide Excellent Customer Service in Insurance Contact Centers

2. Agents can leverage cross-selling and up-selling opportunities

Given slow growth in a mature market, insurance companies are capitalizing on cross-selling and up-selling opportunities to maximize on customer lifetime value.  This proactive approach offers insurers a great way to fulfill sales objectives, but hard sales pitches are no longer attractive or effective in closing deals.   Nowadays, customers have more choices and higher expectations than ever before and they are also more knowledgeable about their options.  

With Leo, your sales agents have the right knowledge, at the right time, in the right place, tailored to the needs of the customer.   The system identifies new opportunities by analyzing the data on the customer and the customer's eligibility for new or upgraded policies, driving cross-sells and up-sells.  Making this information available at the time of the call results in more focused pitches which help increase close rates and the average deal size. 

Also read: 3 Proven Strategies to Drive Sales in Insurance Contact Centers

3. Prevent even more costly errors

Error reduction is one of RPA's most prominent benefits, and 'attended' automation ensures that this is the case even for processes that cannot be fully automated and require an agent to enter the relevant information. In the insurance industry, this also means paying special attention to adhere to government policies and regulations, and as these regulations are constantly changing agents may struggle to remain up to date and enter the required information into the system.

Leo adds a safety net around possible pitfalls by checking the validity of entered information and monitoring information to ensure that an agent does not save an error in a customer's account.   For example, if the agent enters the wrong information or forgets to enter/select a value (e.g. forgot to check a checkbox), a warning message pops up alerting the agent to make the correction. 

With Leo, 'unattended' RPA is not the only tool in the toolbox to help you achieve your automation goals. Leo’s intelligent RPA platform delivers both 'unattended' robotic process automation to offload rules-based processes to a virtual workforce, as well as enabling 'attended' automation to a company’s human workforce.

To find out more about the Leo advantage and how it can benefit your insurance organization, please schedule a demo or visit the Kryon Systems website. 

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Topics: Robotic Process Automation, RPA, insurance


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