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After decades of dragging their feet, insurance companies are taking big leaps into automation. That’s especially true in the claims department, where managers know that an increased volume of claims — and also higher customer expectations — means they must think more strategically than ever about ways to boost efficiency and productivity.

More employees working remotely also means the claims process can work differently, from the intake of a report of loss to damage assessment and payout. No matter what your company’s workflow or the economic climate, the goals of any claims department are these:

• decrease costs
• increase speed
• increase customer satisfaction
• fight fraud
• boost accuracy
• work efficiently

And no matter whether your claim volume has gone up or down, automation can help on each front.

Traditional LegalTech software takes a narrow and simplistic approach to automating legal work, such as CLM, document comparison or calendar management. This often results in a patchwork of tools that teams have to rely on.

Advances in AI have paved the way for new technology to approach these painful processes intelligently and end-to-end.

Whether you work at a large legal firm, are part of a legal team within a corporation, or otherwise handle legal documents – join us to learn how AI streamlines these manual and time-consuming processes.

In this webinar you’ll learn how intelligent automation can:

• Identify the intent of an email and classify the document(s) attached holistically and/or by sections
• Compare documents even when there is no redlining and compose an updated version
• Find information based on context (beyond basic search functionality) or compare signatures for compliance
• Schedule follow-up with customized reminderstickSecure human feedback with Robin, an intelligent automation assistant

Property and casualty insurance in America is a highly-regulated, document-heavy business. In a comprehensive look at the P&C industry between 2004-2017, McKinsey found that while administrative costs per policy remained largely the same for P&C insurers in major markets around the world (like Germany and the UK) they went up by 34% in the United States. That means staying profitable is an uphill battle for P&C insurers, as the country is still reeling from COVID-19-related losses and a string of costly natural disasters.

The tech-savvy founders of Kin, a Chicago-based home insurance startup, knew they wanted to automate in certain areas. Kin co-founder Lucas Ward singled out a home inspection document — the wind mitigation form, common for policyholders in gusty Southeastern states — as one that was ripe for automation. The wind mitigation form’s combination of check-boxes, handwritten notes and signatures makes it particularly complex for processing. Kin sales reps could spend up to 45 minutes inputting data from it, and the company receives some 15,000 wind mitigation forms each year.

Reading the wind mitigation form and uploading data automatically is no problem for Automation Hero, which has end-to-end document processing capabilities including optical character recognition (OCR) for all document types containing either structured, unstructured, or semi-structured data. Processing time for the wind mitigation form is down to less than 30 minutes, with vastly improved accuracy rates…

Consider this: you want to leverage technology to improve your operations, but you still need to handle exceptions and keep oversight on the process. Do you give up on automation? No, you keep humans “in the loop.”

Allianz Italy joint Automation Hero in an Webinar to share their story. 

During the fireside chat, we discussed:

• Why it is necessary to keep the human in the loop of some processes
• How human-in-the-loop helps train AI models
• How Allianz identified additional use cases and got buy-in from business users

Automation Hero uniquely embeds the possibilities of artificial intelligence right at the core of business process automation (BPA) and robotic process automation (RPA) — in an end-to-end platform.

With AI Studio, data-centric users such as data analysts and citizen data scientists can quickly build, train, and validate AI models with a point-and-click experience, no coding required. Data scientists can productionalize their pre-built AI models by uploading them into AI Studio. Once uploaded, these models are now available to integrate into business automations via Flow Studio and circulate throughout the organization for maximum organizational ROI.

By 2020, 30% of all companies will employ sales AI to augment or automate sales their sales process.

With the advent of artificial intelligence (AI), sales managers now have the resources to streamline sales processes and skyrocket team productivity in groundbreaking ways. Eighty-three percent of the most aggressive adopters of AI and cognitive technologies say their companies have already achieved either moderate or substantial benefits.

With these kinds of statistics, businesses that don’t have a sales AI implementation strategy in place risk irrelevancy. Sales teams, in particular, must combine their efforts with disruptive technologies to improve efficiency as companies cannot afford to waste time and money on outdated, time-consuming or unnecessary processes.

As global temperatures continue to rise, extreme weather events have become more frequent and more severe. On August 18, Automation Hero is partnering with RENFROE for a discussion about modernizing and future-proofing claims processing.

Austin Renfroe from RENFROE and Freddy Sulk from Automation Hero will discuss how and why insurance providers should prepare for the continued spike in extreme weather events.

• The need for insurance providers to deliver excellent and timely customer service
• The role of technology in providing on-the-ground customer service
• How climate change will impact the future of claims processing

It may sound obvious, implementing a solution faster will accelerate and maximize your ROI. From saving internal resources on implementation to the cost savings realized from the automation itself, the opportunities to save are real.

The good news is that with industry-leading AI and the most accurate OCR, Automation Hero’s platform is built to reduce time-to-value and deliver results. Join us for an ROI-focused discussion on June 22.

During the webinar, we will discuss how Automation Hero reduces implementation and onboarding time, and unleashes your automations to achieve faster ROI. Our team of automation experts will discuss:

Our team will give examples of successful implementations and demonstrate our platform processing documents. They’ll show how Automation Hero makes faster time-to-value possible and accelerates ROI.

In this Webinar you’ll learn:

• How we have eliminated the need to train AI models with thousands of document samples
• How our easy-to-use no-code platform saves you implementation time and headaches
• Why an end-to-end IDP solution is a better option than relying on your legacy RPA platform

We can help with a wide range of use cases related to supply chain and logistics, including stepping up efficiency around invoicing, extracting data from invoices faster, speeding up claims processing for damaged parts, optimizing dynamic pricing using AI, keeping in compliance, and making forecasting ultra-precise.  

In manufacturing, even slight fluctuations in labor or materials costs, customer behavior, or the weather can cause hiccups that have a ripple effect down the line. Intelligent automation can help companies anticipate what’s next.