Logo
X
  • Who We Serve
    • By Role

      • CEO / Business Executives
      • CTO / IT Professionals
      • COO / Operations Head
    • By Industries

      • Healthcare
      • Digital Commerce
      • Travel and Transportation
      • Real Estate
      • Software and Technology
  • Our Technology Focus
    • Web
    • Mobile
    • Enterprise
    • Artificial Intelligence
    • Blockchain
    • DevOps
    • Internet Of Things
  • Discover Daffodil
    • About
    • Leadership
    • Corporate Social
      Responsibility
    • Partners
    • Careers
  • Resources
    • Blog

    • E-Books

    • Case Studies

    • View all resources

  • Who We Serve
    • By Role

      • CEO / Business Executives
      • CTO / IT Professionals
      • COO / Operations Head
    • By Industries

      • Healthcare
      • Digital Commerce
      • Travel and Transportation
      • Real Estate
      • Software and Technology
  • Our Technology Focus
    • Web

      Create responsive web apps that excel across all platforms

    • Mobile

      User centric mobile app development services that help you scale.

    • Enterprise

      Innovation-driven enterprise services to help you achieve more efficiency and cost savings

      • Domains
      • Artificial Intelligence
      • DevOps
      • Blockchain
      • Internet Of Things
  • Discover Daffodil
    • About
    • Leadership
    • Corporate Social Responsibilities
    • Partners
    • Careers
  • Resources
    • Blog

      Insights for building and maintaining your software projects

    • E-Books

      Our publications for the connected software ecosystem

    • Case Studies

      The impact that we have created for our clients

    • View all resources
daffodil-logo
Get in Touch
  • What We Do
    • Product Engineering

    • Discover & Frame Workshop
    • Software Development
    • Software Testing
    • Managed Cloud Services
    • Support & Maintenance
    • Smart Teams

    • Dedicated Teams
    • Offshore Development Centre
    • Enterprise Services

    • Technology Consulting
    • Robotic Process Automation
    • Legacy Modernization
    • Enterprise Mobility
    • ECM Solutions
  • Who We Serve
    • By Industry

    • Healthcare
    • Software & Technology
    • Finance
    • Banking
    • Real Estate
    • Travel & Transportation
    • Public Sector
    • Media & Entertainment
    • By Role

    • CEO / Business executives
    • CTO / IT professionals
    • COO / Operations
  • Our Expertise
    • Mobility
    • UI/UX Design
    • Blockchain
    • DevOps
    • Artificial Intelligence
    • Data Enrichment
    • Digital Transformation
    • Internet of Things
    • Digital Commerce
    • OTT Platforms
    • eLearning Solutions
    • Salesforce
    • Business Intelligence
    • Managed IT Services
    • AWS Services
    • Application Security
    • Digital Marketing
  • Case Studies
  • Discover Daffodil
    • About us
    • Partnership
    • Career & Culture
    • Case Studies
    • Leadership
    • Resources
    • Insights Blog
    • Corporate Social Responsibility
Get in Touch
resources-bg.jpg

Software Engineering Insights

How Insurance Companies are Simplifying Claim Processing Using RPA

Oct 15, 2019 6:00:00 PM

  • Tweet

claim process automation

The insurance industry is overwhelmed with tedious clerical tasks that adversely impact routine operations, such as claim processing, underwriting, policy servicing, etc. As a result, there are delays, inaccuracies, and backlog, which needs to be settled timely, without violating the business regulations. 

However, amongst all, one of the major shortcomings of the insurance industry is claim settlement and reimbursements. Five of the common areas where the claim settlement process suffers includes:  

  • On-time handling of claims
  • Claims and underwriting file documentation
  • Compliant policy termination notices
  • Compliant claims and underwriting disclosures
  • Compliant grievance and appeals processes

Talking about the reimbursement cycle, it is one of the resources and time-intensive process that impacts claim settlement. Processing claims, which involves manual, third-party reimbursements are usually carried out by paper communication makes the process slow. The insurance companies exchange the claim information with third-party to ensure that information received from their end matches the company’s records. The entire process goes through long paperwork, followed by the payment.

Reimbursements that are processed manually takes more time and have higher per-claim cost than the automated process. Automating claim processing is known to cost 56% less than the paper claim process. Considering this, insurance companies are turning to technology to ensure that claims are created and handled on time. 

While the insurance industry has been slow in adopting technology, it is now growing fast with many of its processes being backed with some interesting tech. One of the technologies that have found some apt use cases in the insurance industry is Robotic Process Automation (RPA). 

Robotic Process Automation is a technology that uses a computer software or a robot to emulate and integrate the actions of human interacting with that of digital systems. This helps in automating business processes, which significantly reduces human errors, time, and cost involved in executing any task. These robots interpret, trigger responses, and communicate with the system for automating a variety of repetitive tasks. The best part of these RPA robots is they don’t sleep and make zero mistakes. 

READ MORE: Robotic Process Automation: Introduction, Benefits, and Applications

Using RPA or Claim Settlement and Reimbursements

Now that we are aware of the shortcomings of the insurance industry without the use of technology, let’s understand how integrating RPA technology into processes can help to boost the claim settlement and reimbursement cycle. 

  • Improved speed of transactions and communication with third parties
  • Faster communication to third parties about recoveries
  • Reduced cycle time and increased cash flow
  • Maintenance of low expense ratios
  • Improved capture of a multistate business

Robotic Process Automation is one of the promising technologies that’s making waves in every industry. For your insurance business, if automating claim settlement and reimbursement is one your mind, then share your business requirements with our experts having specialization in RPA. 

On understanding your business, our experts will recommend processes that can be automated using RPA. To get started, schedule a 30-minute free consultation with our experts who will guide you with relevant ideas and suggestions to make the most of RPA technology.

RELATED VIDEO:  

A short demo of how Daffodil is helping its Enterprise customers in India achieve Aadhar masking compliance using UiPath RPA platform.

Topics: Robotic Process Automation

Archna Oberoi

Written by Archna Oberoi

Content strategist by profession and blogger by passion, Archna is avid about updating herself with the freshest dose of technology and sharing them with the readers. Stay tuned here as she brings some trending stories from the tech-territory of mobile and web.

Previous Post

previous_post_featured_image

Hybrid vs Multi-Cloud: Which one does your Business Need?

Next Post

next_post_featured_image

The Importance of Choosing a Good Software Architecture

Stay Ahead of the Curve with Our Weekly Tech Insights

  • Recent
  • Popular
  • Categories

Lists by Topic

  • Software Development (174)
  • Artificial Intelligence (169)
  • Mobile App Development (166)
  • Healthcare (137)
  • DevOps (80)
  • Digital Commerce (60)
  • Web Development (57)
  • CloudOps (54)
  • Digital Transformation (37)
  • Fintech (36)
  • UI/UX (29)
  • On - Demand Apps (26)
  • Software Architecture (26)
  • Internet of Things (IoT) (25)
  • Open Source (25)
  • Outsourcing (24)
  • Blockchain (21)
  • Newsroom (21)
  • Salesforce (21)
  • Technology (18)
  • Software Testing (16)
  • StartUps (16)
  • Customer Experience (14)
  • Robotic Process Automation (13)
  • Voice User Interface (13)
  • Javascript (11)
  • OTT Apps (11)
  • Business Intelligence (10)
  • Data Enrichment (10)
  • Infographic (10)
  • Big Data (9)
  • Education (9)
  • Microsoft (6)
  • Real Estate (5)
  • Banking (4)
  • Game Development (4)
  • Enterprise Mobility (3)
  • Hospitality (3)
  • eLearning (2)
  • Public Sector (1)
see all

Posts by Topic

  • Software Development (174)
  • Artificial Intelligence (169)
  • Mobile App Development (166)
  • Healthcare (137)
  • DevOps (80)
  • Digital Commerce (60)
  • Web Development (57)
  • CloudOps (54)
  • Digital Transformation (37)
  • Fintech (36)
  • UI/UX (29)
  • On - Demand Apps (26)
  • Software Architecture (26)
  • Internet of Things (IoT) (25)
  • Open Source (25)
  • Outsourcing (24)
  • Blockchain (21)
  • Newsroom (21)
  • Salesforce (21)
  • Technology (18)
  • Software Testing (16)
  • StartUps (16)
  • Customer Experience (14)
  • Robotic Process Automation (13)
  • Voice User Interface (13)
  • Javascript (11)
  • OTT Apps (11)
  • Business Intelligence (10)
  • Data Enrichment (10)
  • Infographic (10)
  • Big Data (9)
  • Education (9)
  • Microsoft (6)
  • Real Estate (5)
  • Banking (4)
  • Game Development (4)
  • Enterprise Mobility (3)
  • Hospitality (3)
  • eLearning (2)
  • Public Sector (1)
see all topics

Elevate Your Software Project, Let's Talk Now

Awards & Accolades

dj
dj
dj
dj
dj
Aws-certification-logo
microsoft-partner-2-1
microsoft-partner
google-cloud-partne
e-UI-Path-Partner-logo
partner-salesforce-reg-consulting-partner-1-1
daffodil-logo
info@daffodilsw.com
  • Home
  • About Daffodil
  • Locations
  • Privacy Policy
  • Careers

© 2025 Daffodil Unthinkable Software Corp. All Rights Reserved.

[fa icon="chevron-up"]