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The Rise of Rpa & Ai in Insurance
The Rise of Rpa & Ai in Insurance
& AI IN
INSURANCE
Transform document processing in
Insurance using RPA and AI
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SPEAKERS
Suresh drives Imaginea’s business growth through robust Srikanth leads the Business Analysis team at Imaginea.
sales, marketing, and business strategies. He is a proven He has spearheaded several strategic automation
leader with a successful track record spanning 20 years, initiatives for our insurance customers. Srikanth also has
and is known for his ability to build high-performance an extensive understanding of the automation landscape
teams and drive profitability and growth. with a focus on emerging areas like Robotic Process
Automation and Artificial Intelligence.
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What’s keeping Insurance CEOs up at night
Over-regulation 95%
60% of
Cyber threats 93% insurance CEOs
report increasing pressure
Speed of technological change 85% on their organization to
deliver business results
Populism 85% under shorter timelines.
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Robotic Process Automation (RPA) evolution
Business
impact Cognitive
RPA with AI
Autonomous
RPA
▪ Processing of
Unassisted unstructured data
RPA
▪ End-to-end ▪ Predictive and
Early stage automation prescriptive
assisted RPA ▪ End-to-end analytics
▪ Auto-scaling
automation ▪ Automation of tasks
▪ Context aware
▪ Easy to scale that involve
▪ Improve productivity judgement
▪ Advanced workflow
▪ Partial automation ▪ Work orchestration analytics
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Why RPA & AI in Insurance
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Key takeaways
1 2 3
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AGENDA
Need for automation
Case studies
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NEED FOR
AUTOMATION
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Document processing is a core need of most processes
Document indexing
Accounts payable
Accounts receivables
Partners
Customer support
Quote generation
Claims processing
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Documents are a key reason for manual intervention
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DOCUMENT
PROCESSING:
PROBLEM
DEFINITION
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Defining a document processing scenario
Document
Input mode Outcome Output mode
characteristics
Document type
▪ Readable or image
(PDF, .jpeg, .xlsx etc.)
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Example 1 – Forms
Document
Input mode Outcome Output mode
characteristics
Workflow Data
application entry
Variance Low
Outcome type Extract set of
Document type Readable/ fields
image PDF
Transformation Rules-based
and look-ups
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Example 2 – Vendor invoices
Document
Input mode Outcome Output mode
characteristics
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Example 3 – Policy document
Document
Input mode Outcome Output mode
characteristics
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AUTOMATING
DOCUMENT
PROCESSING
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Document processing steps
MANUAL AUTOMATED
Read the email or pick a document from an Read from
Integrations with mailbox, upstream applications
application or document folder source
Identify /
Identify the type of document
classify
RPA (Rule based automation)
ML/AI approach
Process information Transform
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Our automation framework
Documents
received through Input sources
different sources
Fetch document
RPA bot
(e.g. UiPath bot)
OCR
USING
Document classification • RPA (UiPath) rules based
• Advanced document
Destination Extraction processing tools (Abbyy
sources FlexiCapture)
Transformation • Custom ML components
• Combination of the above
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Solution design decision tree
Classification and extraction
STRUCTURED UNSTRUCTURED
IS FILE NO
READABLE? OCR
RPA rules based Transform
LOW approach and/or problem into a
VARIANCE advanced doc structured data
Input processing tools extraction
sources YES
If Pareto
principle applies,
AI –
then RPA and/or
HIGH classification,
advanced doc
VARIANCE processing tools
NLP and entity
recognition
Else, custom AI
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CASE STUDIES
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Example 1: Document indexing
workflow
6 3
Create request
Get additional for document OCR
information
Update AMS
based on policy/
details for
client details Update details Document
document 7
for document classification (AI)
Benefits 5
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Example 2: Accounts payable automation
Approach
▪ Identify top vendors Invoices received through Mailbox
1
▪ Template based extraction of
Suppliers Mailbox
invoice information for top Poll mailbox for email
vendors
2
Create invoice
▪ Create invoices and issue 5
payment in financial system Fetch payment due Extract invoice data
3
Benefits 6
7
▪ ~50% of the process Issue
automated payment
4
Finance system Check database for new item Temp. database
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Example 3: Claims processing
Approach
▪ ML based Clustering for Claim received through email
identifying top formats 2
Claims 5
Extract information
Benefits management 7 from the documents
system
▪ ~60% of claims processing 9
automated OCR
Manual Claim processing and
handling of decision 6
exceptions (AI) Extraction
Claim classification
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Example 4: ML based extraction of loss and limits information
Approach
▪ Extracted the text using OCR Data dictionary
and parsers depending on the and annotations
file format
▪ Identified sections containing
loss and limits info using ML
▪ Classification and data
extraction using supervised Trigger OCR
Processing
deep learning
Pipeline Section
classification (AI)
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EFFECTIVE
PROJECT
EXECUTION
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Define the document processing funnel
OCR
▪ Define quantitative goals
(e.g. minimal acceptable
coverage and accuracy) at the
beginning of the project
Classification
▪ Measure metrics continuously
for each stage in the pipeline
throughout the project lifecycle
Transformation
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Document processing funnel example
Accuracy in percentage
OCR 98 99 98 100
Classification 97 98 97 92
Extraction 85 98 80 80
Transformation 85 98 80 80
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Use the funnel for agile implementation
Accuracy (%)
▪ Implement exception
and variance reports Sprint 3
Coverage (%) …
▪ Plan a pre- Accuracy (%) …
implementation stage
Sprint 4
for training and test data
preparation Coverage (%) …
Accuracy (%) …
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SUMMARY
Document processing is a key
contributor to manual work across
processes
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About Imaginea: We bring a unique Product Thinking DNA
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RPA FastTrack
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RPA FastTrack: How it works
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ON-TRACK APPROACH
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Pitstop assessment: Framework
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The last lap: Reports & presentation
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Implementation: One process of medium complexity
will be automated
Input from a document • Medium complexity • Up to 3 different templates with max document size of 5 pages
• 15 fields of input
Output - data entry • Integrate with 1 application using API/ UI or send • Max. 30 fields of output
email
Out of scope • Data input/ transformation/ data entry that need machine learning or complex processing
• Custom data entry screens/ components
• Bot dashboards
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Program schedule
AUTOMATION ASSESSMENT & ROADMAP (4-6 WEEKS) IMPLEMENTATION (8 WEEKS)
Agile RPA
Assessment and Roadmap presentation Define detailed
implementation and
analysis and readout requirements
UAT
PRODUCTION
DEPLOYMENT
▪ Mobilization ▪ Document findings, define ▪ As-is and to-be state process ▪ Sprint plan
roadmap flows
▪ Detailed process study and ▪ Test plan and test cases
analysis ▪ Present automation ▪ Detailed business
▪ Technical design
opportunity assessment requirements and
▪ Current system architecture
report to stakeholders acceptance criteria ▪ Robot configuration
and infrastructure study
▪ Process re-engineering ▪ Solution delivery
▪ Identify automation
impact analysis
opportunities and benefits ▪ UAT
▪ Validate automation
approaches Process flow optimization Short development cycles
with RPA with continuous feedback
* During assessment, 3 weeks of work is expected to executed onsite and rest out of our remote delivery centers
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Get in touch
suresh.babu@imaginea.com srikanth.v@imaginea.com
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Credits
Disclaimer
This document may contain forward-looking statements concerning products and strategies. These statements are based on
management's current expectations and actual results may differ materially from those projected, as a result of certain risks,
uncertainties and assumptions, including but not limited to: the growth of the markets addressed by our products and our customers'
products, the demand for and market acceptance of our products; our ability to successfully compete in the markets in which we do
business; our ability to successfully address the cost structure of our offerings; the ability to develop and implement new technologies
and to obtain protection for the related intellectual property; and our ability to realize financial and strategic benefits of past and future
transactions. These forward-looking statements are made only as of the date indicated, and the company disclaims any obligation to
update or revise the information contained in any forward-looking statements, whether as a result of new information, future events or
otherwise.
All Trademarks and other registered marks belong to their respective owners.
Copyright © 2019, Imaginea Technologies, Inc. and/or its affiliates. All rights reserved.
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