In the age of automation, the insurance industry still handles huge amounts of mundane and repetitive clerical tasks every day. Leveraging automation technologies will free internal resources to use their intellect and creativity to solve higher-order business challenges. Technologies including robotic process automation (RPA), optical character recognition (OCR), artificial intelligence (AI), and machine learning (ML) provide automated solutions for rules-based clerical tasks that do not require decision-making. The use of RPA makes a paradigm shift in the digital transformation of legacy and newer systems that were not feasible previously.
Xceedance offers next-generation, high-ROI, automation solutions that increase throughput and reduce turnaround time across the insurance value chain. Xceedance regularly designs RPA and other automation techniques for policy processing tasks that reduce policy issuance time with considerably improved accuracy. With intelligent automation, underwriters and actuaries working on premium coding, pricing, and financial analysis, can expect a more accurate output at a quicker pace, enabling them to write business faster, with greater precision and visibility on risk parameters.