Rethinking Automation FOR Insurance: Using Robotics and AI For Maximum Impact

RETHINKING
AUTOMATION
FOR
INSURANCE
Using Robotics and
AI for maximum impact
Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve.
SPEAKERS
Suresh Babu
Chief Revenue Officer
Suresh drives Imaginea’s business growth through robust sales,
marketing, and business strategies. He is a proven leader with a
successful track record spanning 20 years, and is known for his ability
to build high-performance teams and drive profitability and growth.
Srikanth Vijay M
Senior Product Manager
Srikanth leads the Business Analysis team at Imaginea. He has
spearheaded several strategic automation initiatives for our insurance
customers. Srikanth also has an extensive understanding of the
automation landscape with a focus on emerging areas like Robotic
Process Automation and Artificial Intelligence.
The connected future with RPA
INDUSTRY 4.0
INDUSTRY 3.0
DIGITAL
INDUSTRY 2.0 TRANSFORMATION
COMPUTERIZATION The digital economy, IoT,
INDUSTRY 1.0
Cyber and AI, Advanced
Automation and
MASS robotics and automation
digitization, Internet and
PRODUCTION online
THE INDUSTRIAL
REVOLUTION Electrical power and
assembly lines
Mechanization, water and
steam power
The role of RPA & AI in process automation
RPA AI
Systems based on rules. Systems that learn.
Automate easy AI learns to mimic and

tasks, hands over improve processes
data to AI based on data handed
PROCESS over from RPA
AUTOMATION
▪ Access legacy system data ▪ Learn from human decisions

▪ Filling in web forms ▪ Make fast judgments
▪ Copy data from one system ▪ Interact with humans
to another
AGENDA
RPA & AI: Expectation vs. reality
Planning & implementing automation initiatives
Key success factors
Case study: RPA & AI in action
Summary
Key takeaways
How can you maximize the benefits from RPA

and AI in your automation initiatives?
1 2 3
Planning and
Why RPA and AI
Role of RPA and AI in implementing
implementations don’t
automation automation initiatives
achieve their goals?
that deliver high ROI
RPA & AI:
EXPECTATION
VS. REALITY
RPA & AI: Are they delivering on the promise?
Expectation Reality
▪ Automated and ▪ 30 to 50% of initial RPA
streamlined end-to-end projects fail
processes
▪ Siloes of automation that
▪ High ROI through reduction is tactical and not strategic
in manual effort
▪ Costly implementations
▪ Improved quality with low returns
▪ Service Quality issues due

to automation failure
1 What is the role of RPA and AI in automation?
Expand automation to areas not addressed effectively by traditional approaches
(BPM, Workflows, Business Rules Engines, etc.)
Reduce overall cost through pre- Extract information from templated

defined automation features insurance documents
RPA
Automate processes where integra-
Create and email quote from AMS
tions are expensive or not feasible
Automate processes that are prone Claims processing that is

to change customized by the state or LOB
AI
Handle process volumes that are Handling peak season volumes like
low, medium or high Jan 1 renewals
1 What is the role of RPA and AI in automation?
Expand automation to areas not addressed effectively by traditional approaches
(BPM, Workflows, Business Rules Engines, etc.)
Processes that require human-like

Handling customer enquiries
behavior
RPA
Derive information from Extract policy and claims
unstructured data information from policy documents
Automate tasks that require Property assessment on IoT

complex decision making devices’ data
AI
Processes that need to adapt to
Fraud detection of claims
changing input patterns
2 Why RPA and AI implementations don’t
achieve their goals?
Inadequate
Ineffective
Poor planning opportunity
project structure
assessment
▪ Using POCs as the only ▪ Lack of business ownership

▪ Automation in silos
benchmark of assessing ▪ Managed as multiple individual
▪ Wrong process prioritization
opportunities and benefits projects rather than as a
▪ Low focus on exception
▪ ‘One solution fits all’ approach program
handling and process
▪ Aiming at full automation, ▪ No dedicated maintenance and
monitoring
ignoring ROI change management team
PLANNING AND
IMPLEMENTING
AUTOMATION
INITIATIVES
THAT DELIVER
HIGH ROI
AUTOMATION
OPPORTUNITY
ASSESSMENT
1 Define the ‘Why’  Goals
IDENTIFY GOALS DEFINE THE GOALS
Organization Efficiency
Revenue
and cost
Division
Team Quality Scalability
Process Customer
Compliance
satisfaction
2 Assess the ‘What’  Opportunities
QUANTIFY
IDENTIFY
BENEFITS
AUTOMATION Granularity can depend
on the level AND RANK
OPPORTUNITIES
(organization/division/ OPPORTUNITIES
team/process) at which
the opportunities are
being assessed
Manual Multiple Processing Turn around

effort applications time time
Customer Business
Quality Volume
satisfaction priority
3 Define the ‘How’  Automation roadmap (1/2)
Map approaches to opportunities Prioritize opportunities
AI RPA or Traditional Automation
Structured data Decision based on

▪ Process maturity
▪ Frequency of
change
Unstructured
Process
data / complex ▪ Readily available
flow
decision making APIs
▪ Frequency of
change to UI
Integrations
3 Define the ‘How’  Automation roadmap (2/2)
INPUT FROM EMAILS CLASSIFICATION
▪ Type of information to be extracted ▪ Type of documents

✓ Standard email fields ✓ Unstructured
Evaluation ✓ Attachments ✓ Not templated
criteria ▪ Change in document categories
✓ Not frequent
▪ RPA (chosen) ▪ AI (Chosen)

✓ Out-of-the-box feature ✓ Large training and test data available
Solution ▪ Integration with mail application ▪ RPA for frequently occurring document
approaches categories
4 Always know the ‘Status’ (1/2)
Include process, RPA and AI governance in the automation roadmap
GOVERNANCE
PROCESS MANAGEMENT ROBOT MANAGEMENT AI MONITORING
▪ Process monitoring ▪ Monitoring ▪ Monitoring accuracy

▪ Exception handling ▪ Configuration ▪ Managing outliers
▪ Task management ▪ Deployment ▪ Error handling
▪ Regulatory compliance ▪ Exception handling
Evaluate RPA orchestrator vs. building custom application with low-code platforms like WaveMaker
4 Always know the ‘Status’ (2/2)
Include process, RPA and AI governance in the automation roadmap
PROCESS GOVERNANCE
ROBOT MANAGEMENT
AI MONITORING
AI Accuracy Report for Document Identification
Total Documents AI Identified Percentage Accuracy

1000 950 95%
# File name Actual Doc Type AI Identified Type

1 File1.pdf Policy Policy
2 File2.pdf Policy Policy
3 File3.pdf Correspondence Correspondence
4 File4.pdf Endorsement Policy
OUR
STORIES
Problem statement: Streamline operations
XYZ Insurance Company grew manifold over the last 20 years. Like many
insurance companies of its size, it had focused on revenue generation and
not as much on improving operational efficiencies.
S
AMS DMS
Carriers
Suppliers
New business/account Operations
management/finance ▪ Redundant activities
Clients ▪ Lack of visibility to into ▪ Poor work distribution
operations ▪ Reduced quality resulting in escalations
▪ Delayed response to ▪ Low data integrity & security due
customer queries ▪ Long turn-around times
Solution: Automation opportunity assessment
Automation RPA AI Integrations
Task management Database driven workflows and business rules

and work allocation
Process, robot and Dashboards and monitoring functionality

AI governance
Data warehouse for operational reports and

Analytics advanced analytics
EXAMPLE 1: Document indexing
STEPS AUTOMATED Clients/ 1
Documents received through email
Mailbox
Carriers
▪ Read emails and create
requests in request DB Save document
in DMS with Poll mailbox for new emails
2
▪ Classify and extract metadata
information from documents Document Trigger AI Pipeline
9
▪ Get policy and client Library 4
information from AMS

▪ Send document to DMS with 6 Robot 3
metadata Create request OCR

Get additional for document
information
based on policy/ Update AMS
client details details for Document
Update details
document 7 Classification (AI)
for document
BENEFITS Request DB
5
▪ Achieved 40% gain in efficiency Extraction (AI)

▪ Classification accuracy of 90% 8
and Extraction accuracy of 80%
▪ Extracted information like claim AMS
information used for data Manual verification and
update (process
analysis management application)
EXAMPLE 2: Accounts Payables Automation
STEPS AUTOMATED Suppliers
Invoices received through Mailbox
▪ Automatically read invoice 1 Mailbox
data from emails
▪ Create invoices and issue Poll mailbox for email

payment in financial system 2
Create invoice
5
Fetch payment due Extract invoice data
3
Robot
6
BENEFITS 7
Issue
▪ ~50% of the process payment
automated
4
Check database for new item Temp.
Finance system database
EXAMPLE 3: Migration
STEPS AUTOMATED
▪ Migrate policy and claim data
from legacy system to new
AMS List of Clients
and Policies
1 Read List
Get client data
Create Clients
2 3
Robot
Get policy data Create Policies
BENEFITS Legacy DB New AMS
▪ Migration completed in 80%

lesser time than if done
manually
KEY FACTORS
TO CONSIDER IN
IMPLEMENTATION
1 Design for scale and performance
No. of emails received as of today is 1,000,000 per

Growth in transaction volume
year. Expected to reach 2,000,000 in 2 years
How many transactions should the

1,000 documents have to be processed in 8 hours
solution process in a given time?
How can the solution scale to handle

More robots, more CPU/ GPU
additional volume?
2 Focus on exceptions:
Leads to a robust implementation
▪ Most processes adhere to the Pareto 80:20 rule w.r.t exceptions
▪ Missed exceptions most frequently lead to escalations
▪ Handling the 20% exception can take up 80% of implementation effort
Automating the exception

BENEFITS
processing TO DRIVE
THE
Identify exceptions
Re-engineer process to
reduce exceptions
Or DECISION
Flag exception for manual

handling
3 AI in AI projects is typically the smallest effort
Training and
test data BEST PRACTICES
preparation
▪ Define the minimal acceptable
accuracy and target accuracy
Monitoring ▪ Plan a pre-implementation stage for
and audit QA training and test data preparation
trails
AI ▪ Automate QA and Reporting
Project ▪ Standardize reporting of accuracy
metrics
- Helps project management
Pre and post - Can be used for monitoring and

AI audit in the long run
processing
development
components
4 Factor changes to existing applications
Existing applications may need to be changed to …
Automate certain steps

Handle the re-engineered easily e.g. getting Provide data for
process additional fields from an automation solutions
existing API
ENSURE THAT THE CHANGES TO DEPENDENT APPLICATIONS ARE PLANNED

ALONG WITH THE NEW AUTOMATION SOLUTION
5 Conduct a post implementation assessment
MEASURE SOLUTION PERFORMANCE EVALUATE ROI
• Throughput • Quantitative analysis

- Verify automation results manually in production - Reduction in manual effort
• Accuracy - Process scalability
- No. of transactions that the solution processes - Quality improvement
in a given time - Client and user satisfaction
• Exceptions
- Tasks that the solution failed to handle • Qualitative Analysis
- Tasks that went through Exception flows - Process governance
• Utilization - Reporting
- Percentage of time the BOT is working on tasks - Ease of change management
• Adoption - Process agility
- % of expected transactions handled through the solution
- No. of users
USE THE FEEDBACK TO FINE TUNE THE OVERALL

AUTOMATION ROADMAP
SUMMARY
 RPA and AI are great enablers of automation; provided
initiatives are planned and executed carefully
 Always start with an Automation Opportunity Assessment;

quantified benefits should drive the roadmap
 Consider features for Governance and changes to existing

applications in the automation roadmap
 Plan for short releases and post implementation

assessment to stay on track
About Imaginea
Products built from User-centric Agile

conception-code-cash design methodology
Unique Serving over 200 Pramati’s M&A’s of

products & services product companies leading products
1300+ Innovation Serving from 5

engineers enablement global locations
LET’S STAY CONNECTED
Suresh Babu
Chief Revenue Officer
suresh.babu@imaginea.com
Srikanth Vijay M
Senior Product Manager
srikanth.v@imaginea.com
Credits
Disclaimer
This document may contain forward-looking statements concerning products and strategies. These statements are based on
management's current expectations and actual results may differ materially from those projected, as a result of certain risks,
uncertainties and assumptions, including but not limited to: the growth of the markets addressed by our products and our customers'
products, the demand for and market acceptance of our products; our ability to successfully compete in the markets in which we do
business; our ability to successfully address the cost structure of our offerings; the ability to develop and implement new technologies
and to obtain protection for the related intellectual property; and our ability to realize financial and strategic benefits of past and future
transactions. These forward-looking statements are made only as of the date indicated, and the company disclaims any obligation to
update or revise the information contained in any forward-looking statements, whether as a result of new information, future events or
otherwise.
All Trademarks and other registered marks belong to their respective owners.
Copyright © 2018, Imaginea Technologies, Inc. and/or its affiliates. All rights reserved.
Images under Creative Commons Zero license.

Rethinking Automation FOR Insurance: Using Robotics and AI For Maximum Impact

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Rethinking Automation FOR Insurance: Using Robotics and AI For Maximum Impact

Uploaded by

Copyright:

Available Formats

RETHINKING

Automate easy AI learns to mimic and

▪ Access legacy system data ▪ Learn from human decisions

Planning & implementing automation initiatives

Key success factors

Case study: RPA & AI in action

How can you maximize the benefits from RPA

▪ Service Quality issues due

Reduce overall cost through pre- Extract information from templated

Automate processes that are prone Claims processing that is

Processes that require human-like

Automate tasks that require Property assessment on IoT

▪ Using POCs as the only ▪ Lack of business ownership

IDENTIFY GOALS DEFINE THE GOALS

Team Quality Scalability

Manual Multiple Processing Turn around

AI RPA or Traditional Automation

Structured data Decision based on

INPUT FROM EMAILS CLASSIFICATION

▪ Type of information to be extracted ▪ Type of documents

▪ RPA (chosen) ▪ AI (Chosen)

PROCESS MANAGEMENT ROBOT MANAGEMENT AI MONITORING

▪ Process monitoring ▪ Monitoring ▪ Monitoring accuracy

Total Documents AI Identified Percentage Accuracy

# File name Actual Doc Type AI Identified Type

Automation RPA AI Integrations

Task management Database driven workflows and business rules

Process, robot and Dashboards and monitoring functionality

Data warehouse for operational reports and

information from AMS

metadata Create request OCR

▪ Achieved 40% gain in efficiency Extraction (AI)

▪ Create invoices and issue Poll mailbox for email

▪ Migration completed in 80%

No. of emails received as of today is 1,000,000 per

How many transactions should the

How can the solution scale to handle

Automating the exception

Flag exception for manual

Pre and post - Can be used for monitoring and

Automate certain steps

ENSURE THAT THE CHANGES TO DEPENDENT APPLICATIONS ARE PLANNED

• Throughput • Quantitative analysis

USE THE FEEDBACK TO FINE TUNE THE OVERALL

 Always start with an Automation Opportunity Assessment;

 Consider features for Governance and changes to existing

 Plan for short releases and post implementation

Products built from User-centric Agile

Unique Serving over 200 Pramati’s M&A’s of

1300+ Innovation Serving from 5

Images under Creative Commons Zero license.

You might also like