RPA IN CLAIMS ADMINISTRATION
Robotic Process Automation allows claims, such as workers'
compensation (known as employer's liability in the UK) to be
assigned automatically, which speed up processing time.
A bot can bring the claim to the right adjuster, either in-house or at
a third party, straightaway via analyzing last name, zip code, claim
type, language and availability or experience of the loss adjuster; this
speed makes a dramatic difference in both customer service and
internal costs.
In addition, RPA can evaluate the severity of a claim in real time.
Bots can assess age, occupation, type of injury, claim history, and
other variables. The bot then links up with the severity-determination
engine and obtains a rating immediately.
This means the most experienced, relevant, and available adjusters
are assigned the claim; the right adjuster can help save time and
money through early intervention.
RPA: TOPS IN SECURITY AND DATA PRIVACY
According to Jarrod Albert, Senior Manager, Automation and
Integration, at Ventiv Technology: "Ventiv has a control room to
monitor the bots, while companies can control the bots through an
application. Depending on the company, specific permissions can be
set for each bot. The level of security can be controlled in a way you
would set-up controls for human employees. You can treat the bot
like human worker."
Because bots are orchestrated by controllers, everything they do is
logged and monitored. If something goes wrong, a human is notified.
Bots can be audited at regular intervals or on demand.
DON'T TOUCH!
The move toward
"straight-through"
processing of
smaller, less-
complex claims is
a growing trend
in the insurance
and claims
administration
space. RPA is
ideally suited no-
touch processing
of claims that meet
an organization's
customized criteria.
