Instant Insights / The robots are coming!

At issue now is how the new wave of robots will alter risks in the world and what that means for the insurance industry.


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Using AI Artificial intelligence is making new computer technologies possible to handle everyday tasks for carriers. (Photo: iStock)

Within property and casualty insurance, key processes like claims, policy administration, accounting and others are still largely manual in nature, and they are all routine, repetitive and mundane.

Many of these processes are made 90% more efficient by software bots built on robotic process automation (RPA) technologies. The automation of these simple processes has helped many insurers improve quality, freeing up time for their agents and advisors to focus on more critical processes.

Related:  Big tech is throwing money and talent at robots for the home

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