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Don’t Become Extinct: 

Adopt a Robotic Process Automation (RPA) Strategy

One of the great mysteries of all time is what caused dinosaurs to become extinct around 65 million years ago. At the time, scientists estimate that 70% of all animal life on earth died out.  They call it a mass extinction; noting that it was not the first mass extinction in earth’s history and it probably will not be the last. Several theories as to what caused the extinction range from Disease, Exposure to extreme heat, Exposure to extreme cold or that they had to compete with other mammals for resources. Other hypotheticals included the possibility of a huge asteroid hitting that blocked out sunlight or a spike in volcanic activity both causing long periods of darkness destroying all plant life. The most common thought is that the dinosaurs gradually died over time from a lot going on around the period they disappeared including climatic changes (cooler and dryer), less food, disease, and other environmental variables.    


Insurance too, may face extinction


Insurance organizations today, face a similar threat.  Technology change is fast and furious which makes it difficult for organizations to stay ahead of the technology curve.  Insurers remain behind in investments and in taking advantage of the technological advances that are available to them today.  The legacy systems and age-old processes have hampered their ability to adapt and remain relevant.  The entrance of InsurTech certainly has caused them to start thinking differently and they have slowly begun approaching business agility differently but now there are even newer technologies that must be given serious consideration, or insurers too may face extinction.    


Robotic Process Automation is a strategic imperative 


Robotic Process Automation should be considered in the very near term as a top strategic priority. The processing capabilities of software bots can provide insurers with a cash positive situation. RPA should not be considered as only the new shiny object but viewed more carefully as a next generation technology that you need to implement TODAY. The typical insurers level of efficiency today will not allow insurance organizations to be as cost efficient as they can be without the use of these types of advanced technology.  


Late Adopters may not be able to recover 


Today the Software Bots used in an RPA solution can do what a 13-year-old student can do.  Five years from now, bots will be able to do what a college student can do. If Insurers do not adopt this technology today, the step will be too big to adopt later if you do not do this now.  Late adopters will not be able to process and analyze 10,000 claims at the same rate the bots can, if you wait to implement RPA, the gap will be too great for insurers to overcome. Waiting until the technology improves and mature may be too late for your organization.  Some insurers will never make the jump, and if they do not, they will never be able to overcome the competitive pressures of those that do.   

Regardless of exactly what made the dinosaurs go extinct, it is very apparent that they were not able to adapt to their ever-changing environment. They did not change so that they could overcome the obstacles and hindrances they faced. For insurers, not adopting a Robotics Processing Automation Strategy will be like a dinosaur’s exile creating a new round of extinction.  


Partner with the experience you need


REQUORDIT have the tools and experience necessary to help your insurance organization begin to adopt this necessary technology.  

Ruth Fisk

Ruth Fisk

has more than 30 years of experience working within the insurance industry and is a foremost expert on the practical application of content services platforms in insurance. In her role as Global Director Insurance at REQUORDIT, she has worked with more than 2,000 insurance organizations to successfully reduce operating expenses, increase efficiency, and positively impact their bottom lines.

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Solutions

discover 01

Insurance Solutions

Insurance is inundated with highly complex processes. REQUORDIT can help you maximize the potential of your team by helping automate many of the repetitive manual tasks across the insurance organization.

Webinar

webinar 01

Hyland Robotic Process Automation

Why is Hyland RPA technology so scalable and different? It allows to automate time-consuming manual tasks form data entry and beyond with Hyland’s RPA of choice. Watch the webinar and experience it through the demo!

Don’t Become Extinct:

Adopt a Robotic Process Automation (RPA) Strategy

One of the great mysteries of all time is what caused dinosaurs to become extinct around 65 million years ago. At the time, scientists estimate that 70% of all animal life on earth died out.  They call it a mass extinction; noting that it was not the first mass extinction in earth’s history and it probably will not be the last. Several theories as to what caused the extinction range from Disease, Exposure to extreme heat, Exposure to extreme cold or that they had to compete with other mammals for resources. Other hypotheticals included the possibility of a huge asteroid hitting that blocked out sunlight or a spike in volcanic activity both causing long periods of darkness destroying all plant life. The most common thought is that the dinosaurs gradually died over time from a lot going on around the period they disappeared including climatic changes (cooler and dryer), less food, disease, and other environmental variables.    


Insurance too, may face extinction


Insurance organizations today, face a similar threat.  Technology change is fast and furious which makes it difficult for organizations to stay ahead of the technology curve.  Insurers remain behind in investments and in taking advantage of the technological advances that are available to them today.  The legacy systems and age-old processes have hampered their ability to adapt and remain relevant.  The entrance of InsurTech certainly has caused them to start thinking differently and they have slowly begun approaching business agility differently but now there are even newer technologies that must be given serious consideration, or insurers too may face extinction.    


Robotic Process Automation is a strategic imperative 


Robotic Process Automation should be considered in the very near term as a top strategic priority. The processing capabilities of software bots can provide insurers with a cash positive situation. RPA should not be considered as only the new shiny object but viewed more carefully as a next generation technology that you need to implement TODAY. The typical insurers level of efficiency today will not allow insurance organizations to be as cost efficient as they can be without the use of these types of advanced technology.  


Late Adopters may not be able to recover 


Today the Software Bots used in an RPA solution can do what a 13-year-old student can do.  Five years from now, bots will be able to do what a college student can do. If Insurers do not adopt this technology today, the step will be too big to adopt later if you do not do this now.  Late adopters will not be able to process and analyze 10,000 claims at the same rate the bots can, if you wait to implement RPA, the gap will be too great for insurers to overcome. Waiting until the technology improves and mature may be too late for your organization.  Some insurers will never make the jump, and if they do not, they will never be able to overcome the competitive pressures of those that do.   

Regardless of exactly what made the dinosaurs go extinct, it is very apparent that they were not able to adapt to their ever-changing environment. They did not change so that they could overcome the obstacles and hindrances they faced. For insurers, not adopting a Robotics Processing Automation Strategy will be like a dinosaur’s exile creating a new round of extinction.  


Partner with the experience you need


REQUORDIT have the tools and experience necessary to help your insurance organization begin to adopt this necessary technology. 

Ruth Fisk

Ruth Fisk

has more than 30 years of experience working within the insurance industry and is a foremost expert on the practical application of content services platforms in insurance. In her role as Global Director Insurance at REQUORDIT, she has worked with more than 2,000 insurance organizations to successfully reduce operating expenses, increase efficiency, and positively impact their bottom lines.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp

Solutions

discover 01

Insurance Solutions

Insurance is inundated with highly complex processes. REQUORDIT can help you maximize the potential of your team by helping automate many of the repetitive manual tasks across the insurance organization.

Webinar

webinar 01

Hyland Robotic Process Automation

Why is Hyland RPA technology so scalable and different? It allows to automate time-consuming manual tasks form data entry and beyond with Hyland’s RPA of choice. Watch the webinar and experience it through the demo!