The Rise of Rpa & Ai in Insurance

THE RISE OF RPA
& AI IN
INSURANCE
Transform document processing in
Insurance using RPA and AI
Private and confidential. Copyright (C) 2019, Imaginea Technologies Inc. All rights reserve. 1
SPEAKERS
Suresh Babu Srikanth Vijay M

Chief Revenue Officer Director, Product Management
Suresh drives Imaginea’s business growth through robust Srikanth leads the Business Analysis team at Imaginea.
sales, marketing, and business strategies. He is a proven He has spearheaded several strategic automation
leader with a successful track record spanning 20 years, initiatives for our insurance customers. Srikanth also has
and is known for his ability to build high-performance an extensive understanding of the automation landscape
teams and drive profitability and growth. with a focus on emerging areas like Robotic Process
Automation and Artificial Intelligence.
What’s keeping Insurance CEOs up at night
Insurance CEO’s concern
Over-regulation 95%
60% of
Cyber threats 93% insurance CEOs
report increasing pressure
Speed of technological change 85% on their organization to
deliver business results
Populism 85% under shorter timelines.
Geopolitical uncertainty 83%
Source: PwC’s 21st CEO Survey, Insurance
Robotic Process Automation (RPA) evolution
Business
impact Cognitive
RPA with AI
Autonomous
RPA
▪ Processing of
Unassisted unstructured data
RPA
▪ End-to-end ▪ Predictive and
Early stage automation prescriptive
assisted RPA ▪ End-to-end analytics
▪ Auto-scaling
automation ▪ Automation of tasks
▪ Context aware
▪ Easy to scale that involve
▪ Improve productivity judgement
▪ Advanced workflow
▪ Partial automation ▪ Work orchestration analytics
▪ Difficult to scale ▪ Robot performance

analytics
HIGH MARKET ADOPTION LOW
Source: Everest group
Why RPA & AI in Insurance
TAILORED PRODUCTS & ADVICE

▪ Increase the capabilities of sales
agents and advisers
▪ Drive loyalty by offering bespoke
incentives and rewards UBIQUITOUS PRESENCE
▪ Develop modern, mobile-
first insurance offerings
LEANER & FASTER
▪ Improve scale efficiencies
OPERATIONS to enter new markets
▪ Automate compliance
and reporting
▪ Improve capital
efficiency through SMARTER DECISION MAKING
better risk modelling ▪ Reduce fraud using new tools
and real-time risk and new data
monitoring ▪ Process claims instantly
NEW VALUE PROPOSITIONS

▪ Predictive analytics to better understand risk
▪ Prevention strategies to lower their
risk exposures
Key takeaways
How can you leverage RPA and AI in document

processing?
1 2 3
Automate your business

Selecting the right mix of Drive high ROI through
process by implementing
technologies effective project execution
RPA and AI
AGENDA
Need for automation
Defining a document processing scenario
Automating document processing
Case studies
Quantitative approach to project execution
NEED FOR
AUTOMATION
Document processing is a core need of most processes
Document indexing
Accounts payable
Accounts receivables
Partners
Customer support
Quote generation
Claims processing
Documents are a key reason for manual intervention
The average company spends …

20,000 pieces of paper maintained by
average office worker annually
$20 in labor to file a

document
47% of your tasks can be automated
$120 in labor to file a misfiled

document
using RPA
$220 to reproduce a lost

document 40% reduction in processing time
using RPA
Source: Internal research, CGI
DOCUMENT
PROCESSING:
PROBLEM
DEFINITION
Defining a document processing scenario
Document
Input mode Outcome Output mode
characteristics
▪ Email Type of content Outcome type ▪ Data entry

▪ Hard copy ▪ Structured ▪ Extract set of fields ▪ Email
▪ File folder ▪ Unstructured ▪ Data summary ▪ Feed to downstream
▪ Upstream application/ ▪ Decision system
workflow Variance in document
formats Transformation
▪ Low ▪ Well defined rules
▪ Medium ▪ Lookups
▪ High ▪ Complex transformation
Document type
▪ Readable or image
(PDF, .jpeg, .xlsx etc.)
Example 1 – Forms
Document
characteristics
Workflow Data
application entry
Type of content Structured
Variance Low
Outcome type Extract set of
Document type Readable/ fields
image PDF
Transformation Rules-based
and look-ups
Example 2 – Vendor invoices
Document
characteristics
Email Data entry and

payment in financial
system
Type of content Structured
Variance High due to

large number of Outcome type Extract set of
vendors fields, payment
decision
Document type Readable/
image PDF Transformation Rules-based
and look-ups
Example 3 – Policy document
Document
characteristics
Email, hard Data entry into

copy AMS
Type of content Unstructured
Variance High variance

due to multiple Outcome type Extract set of
LOBs and fields
Carriers
Transformation Rules based,
Document type Readable/ lookups,
image PDF complex
AUTOMATING
DOCUMENT
PROCESSING
Document processing steps
MANUAL AUTOMATED
Read the email or pick a document from an Read from
Integrations with mailbox, upstream applications
application or document folder source
Identify /
Identify the type of document
classify
RPA (Rule based automation)
Read document & pick required information Extract And / Or
ML/AI approach
Process information Transform
Integrations with mailbox, and downstream

Create the output Data entry
applications
Our automation framework
Documents
received through Input sources
different sources
Fetch document
Trigger data extraction

Create output and processing
RPA bot
(e.g. UiPath bot)
OCR
USING
Document classification • RPA (UiPath) rules based
• Advanced document
Destination Extraction processing tools (Abbyy
sources FlexiCapture)
Transformation • Custom ML components
• Combination of the above
Solution design decision tree
Classification and extraction
STRUCTURED UNSTRUCTURED
IS FILE NO
READABLE? OCR
RPA rules based Transform
LOW approach and/or problem into a
VARIANCE advanced doc structured data
Input processing tools extraction
sources YES
If Pareto
principle applies,
AI –
then RPA and/or
HIGH classification,
advanced doc
VARIANCE processing tools
NLP and entity
recognition
Else, custom AI
Well defined rules/ lookups DATA Complex transformation

Use RPA to define rules TRANSFORMATION Use AI
CASE STUDIES
Example 1: Document indexing
Documents received through email

Approach Clients/ 1 Mailbox
Carriers
▪ ML based document
classification Save document
in DMS with Poll mailbox for new emails
2
▪ ML and look-up based data metadata
extraction Document Trigger AI Pipeline
9
▪ RPA bot orchestrates entire Library
4
workflow
6 3
Create request
Get additional for document OCR
information
Update AMS
based on policy/
details for
client details Update details Document
document 7
for document classification (AI)
Benefits 5
▪ Achieved 70% gain in efficiency Request DB

Extraction (AI)
▪ Classification accuracy of 90%
8
and extraction accuracy of 80%
▪ Extracted information like claim
information used for data AMS
Manual verification and
analysis update (process
management application)
Example 2: Accounts payable automation
Approach
▪ Identify top vendors Invoices received through Mailbox
1
▪ Template based extraction of
Suppliers Mailbox
invoice information for top Poll mailbox for email
vendors
2
Create invoice
▪ Create invoices and issue 5
payment in financial system Fetch payment due Extract invoice data
3
Benefits 6
7
▪ ~50% of the process Issue
automated payment
4
Finance system Check database for new item Temp. database
Example 3: Claims processing
Approach
▪ ML based Clustering for Claim received through email
identifying top formats 2
▪ RPA with advanced Clients Mailbox

document processing tool for 3
defining extraction rules 1
Create claim record for claim received through app/ portal Poll mailbox
based on clusters for new emails
▪ Custom ML based claims Extract email information and create claim record
decision engine 4
Enter extracted information and decision (approve/ deny/ exception)

8
Claims 5
Extract information
Benefits management 7 from the documents
system
▪ ~60% of claims processing 9
automated OCR
Manual Claim processing and
handling of decision 6
exceptions (AI) Extraction
Claim classification
Example 4: ML based extraction of loss and limits information
Approach
▪ Extracted the text using OCR Data dictionary
and parsers depending on the and annotations
file format
▪ Identified sections containing
loss and limits info using ML
▪ Classification and data
extraction using supervised Trigger OCR
Processing
deep learning
Pipeline Section
classification (AI)
Loss and limits

Benefits Policy extraction (AI)
▪ Underwriters got additional documents Save
Extracted
data points to evaluate client Machine learning
Information
risk profile pipeline using NLP,
▪ Overall success rate of >80% for entity recognition
Data
data extraction warehouse
▪ Availability of so far
inaccessible data opening new
opportunity to apply ML
EFFECTIVE
PROJECT
EXECUTION
Define the document processing funnel
OCR
▪ Define quantitative goals
(e.g. minimal acceptable
coverage and accuracy) at the
beginning of the project
Classification
▪ Measure metrics continuously
for each stage in the pipeline
throughout the project lifecycle
Extraction ▪ Automate QA and reporting for

rapid feedback to identify areas
for improvement
Transformation
Document processing funnel example
Accuracy in percentage
TOTAL FILES: 1,000 Overall No section Free text Tables

(100%) (30%) (60%) (10%)
OCR 98 99 98 100
Classification 97 98 97 92
Extraction 85 98 80 80
Transformation 85 98 80 80
Use the funnel for agile implementation
METRIC FIELD 1 FIELD 2 … FIELD N

▪ Have short sprints Sprint 1
(1 - 2 weeks) where the
Coverage (%) …
backlog items are
prioritized based on the Accuracy (%) …
metrics that are tracked Sprint 2

in the previous sprint Coverage (%) …
Accuracy (%)
▪ Implement exception
and variance reports Sprint 3
Coverage (%) …
▪ Plan a pre- Accuracy (%) …
implementation stage
Sprint 4
for training and test data
preparation Coverage (%) …
Accuracy (%) …
SUMMARY
 Document processing is a key
contributor to manual work across
processes
 RPA and AI can be used for efficient

automation of document processing
 Choosing the right technology mix is a

key factor for success
 Use a metrics driven agile approach to

build an effective solution quickly
About Imaginea: We bring a unique Product Thinking DNA
1400+ Serving from 5 Agile

Engineers Global Locations Methodology
Products built from Over 200 Product User-centric

conception-code-cash Companies as customers Design
Pramati’s M&A’s of Innovation Unique

Leading products Enablement Products & Services
RPA FastTrack
RPA FastTrack: How it works
START RACE REPEAT

Automation Automation of one Identify & expand
assessment and medium complexity to future automation
build roadmap process opportunities
4-6 weeks ~8 weeks
▪ Review all ▪ Design, build and QA

processes
▪ Includes 1 week
▪ Identify potentials of UAT
for automation
▪ Detailed
▪ Select the documentation &
immediate high production
value process deployment
ON-TRACK APPROACH
Pitstop assessment: Framework
The last lap: Reports & presentation
As-is process Scope of automation Solution

documentation report architecture
Rough Order of Magnitude High-level implementation ROI calculation and business

(ROM) estimates to roadmap use cases
implement the solution
Implementation: One process of medium complexity
will be automated
Input Data Output

(Application or Email or
Document) Transformation (Data Entry or Email)
Process steps Description Included in starter package

Input from an application • Integrate with an application or take input • 1 application using API/ UI or 1 email inbox
or email from an email • Max. 15 fields of input
Input from a document • Medium complexity • Up to 3 different templates with max document size of 5 pages
• 15 fields of input
Data transformation • Simple transformations • String manipulation

• Format changes
• Rules based transformation
Output - data entry • Integrate with 1 application using API/ UI or send • Max. 30 fields of output
email
Out of scope • Data input/ transformation/ data entry that need machine learning or complex processing
• Custom data entry screens/ components
• Bot dashboards
Program schedule
AUTOMATION ASSESSMENT & ROADMAP (4-6 WEEKS) IMPLEMENTATION (8 WEEKS)
Agile RPA
Assessment and Roadmap presentation Define detailed
implementation and
analysis and readout requirements
UAT
PRODUCTION
DEPLOYMENT
▪ Mobilization ▪ Document findings, define ▪ As-is and to-be state process ▪ Sprint plan
roadmap flows
▪ Detailed process study and ▪ Test plan and test cases
analysis ▪ Present automation ▪ Detailed business
▪ Technical design
opportunity assessment requirements and
▪ Current system architecture
report to stakeholders acceptance criteria ▪ Robot configuration
and infrastructure study
▪ Process re-engineering ▪ Solution delivery
▪ Identify automation
impact analysis
opportunities and benefits ▪ UAT
▪ Validate automation
approaches Process flow optimization Short development cycles
with RPA with continuous feedback
* During assessment, 3 weeks of work is expected to executed onsite and rest out of our remote delivery centers
Get in touch
Suresh Babu Srikanth Vijay M

Chief Revenue Officer Director, Product Management
suresh.babu@imaginea.com 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 © 2019, Imaginea Technologies, Inc. and/or its affiliates. All rights reserved.
Images under Creative Commons Zero license.

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THE RISE OF RPA

Suresh Babu Srikanth Vijay M

Insurance CEO’s concern

Geopolitical uncertainty 83%

Source: PwC’s 21st CEO Survey, Insurance

▪ Difficult to scale ▪ Robot performance

HIGH MARKET ADOPTION LOW

Source: Everest group

TAILORED PRODUCTS & ADVICE

NEW VALUE PROPOSITIONS

How can you leverage RPA and AI in document

Automate your business

Defining a document processing scenario

Automating document processing

Quantitative approach to project execution

The average company spends …

$20 in labor to file a

47% of your tasks can be automated

$120 in labor to file a misfiled

$220 to reproduce a lost

Source: Internal research, CGI

▪ Email Type of content Outcome type ▪ Data entry

Type of content Structured

Email Data entry and

Variance High due to

Email, hard Data entry into

Type of content Unstructured

Variance High variance

Read document & pick required information Extract And / Or

Integrations with​ mailbox, and downstream

Trigger data extraction

Well defined rules/ lookups DATA Complex transformation

Documents received through email

▪ Achieved 70% gain in efficiency Request DB

▪ RPA with advanced Clients Mailbox

Enter extracted information and decision (approve/ deny/ exception)

Loss and limits

Extraction ▪ Automate QA and reporting for

TOTAL FILES: 1,000 Overall No section Free text Tables

METRIC FIELD 1 FIELD 2 … FIELD N

metrics that are tracked Sprint 2

 RPA and AI can be used for efficient

 Choosing the right technology mix is a

 Use a metrics driven agile approach to

1400+ Serving from 5 Agile

Products built from Over 200 Product User-centric

Pramati’s M&A’s of Innovation Unique

START RACE REPEAT

4-6 weeks ~8 weeks

▪ Review all ▪ Design, build and QA

As-is process Scope of automation Solution

Rough Order of Magnitude High-level implementation ROI calculation and business

Input Data Output

Process steps Description Included in starter package

Data transformation • Simple transformations • String manipulation

Suresh Babu Srikanth Vijay M

Images under Creative Commons Zero license.

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Integrations with mailbox, and downstream