# How Process Automation increases productivity in the insurance sector while giving employees room for more high value activity Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-01-12 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: Maximise Business Efficiency with Process Automation in Meta Description: Explore how Process Automation is streamlining insurance companies, freeing up time for valuable tasks and increasing employee engagement. URL: https://financedigest.com/how-process-automation-increases-productivity-in-the-insurance-sector-while-giving-employees-room-for-more-high-value-activityhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/istock-922512798-2-1736836450691-compressed.jpg) ![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/xanthe-bennett-head-of-business-solutions-at-expleo-450x675-1736836450680-compressed.jpg) _By **Xanthe Bennett,** Head of Business Solutions at_ [_Expleo_](https://expleogroup.com/) **Article drafted for Finance Digest** The insurance space is a large, complex machine where each cog helps to ensure the smooth running of its processes– so much so that if one cog is out of place, inefficiencies can be felt throughout the entire ecosystem. It’s well-known that the day-to-day running of an insurance company is filled with repetitive but nonetheless critical tasks, such as risk assessments, data analysis and preparing insurance policy terms. As such, [insurance companies](https://www.financedigest.com/incentive-fm-wins-contract-with-global-insurance-services-company.html "Incentive FM wins contract with global insurance services company") are relying on armies of workers to spend hours of their week tackling these important yet often unfulfilling duties. Today, [these tasks represent 47% of employees’ time at work](https://automationfirst.economist.com/smart-automation-with-software-robots/), suggesting significant room for improvement in business efficiency, as well as higher satisfaction for employees. The Process Automation (PA) revolution has enabled businesses to free up employee hours from these time-consuming, low value tasks enabling them to focus on the more stimulating and human aspects of their job However, with [41% of employees globally feeling more concerned about automation processes now than a year ago](https://expleogroup.com/wp-content/uploads/2021/09/Expleo-Future-of-Work-Report-An-Analysis-of-Process-Automation-web-2.pdf), insurance companies need to ensure they bring their people along on their PA journey; showing them how they can work faster and smarter, and ultimately take more credit for their work. **Work smarter, not harder** As PA can accomplish repetitive tasks more quickly and accurately than humans, it can have a strong positive impact on [businesses in the insurance](https://www.financedigest.com/are-there-tax-breaks-for-business-health-insurance.html "Are there tax breaks for business health insurance?") industry if implemented correctly. Using automation in the workforce will result in a drastic drop in mundane tasks for employees and because of this, employees are able to spend more time on tasks that provide more [value for the business](https://www.financedigest.com/keeping-data-connected-for-greater-business-value.html "Keeping Data Connected for Greater Business Value") – all while benefitting from algorithms doing the admin work. And the results are clear. [Businesses will see an increase](https://www.financedigest.com/frances-ynsect-to-refocus-bug-business-after-capital-increase.html "France’s Ynsect to refocus bug business after capital increase") in employee engagement and accountability as employees spend time delivering work at exceptional levels. Using PA, Expleo [customers have been able to improve](https://www.financedigest.com/5-ways-a-ccm-platform-can-help-improve-customer-engagement-in-insurance.html "5 Ways a CCM platform can help improve customer engagement in insurance") processes to generate more value. This shows that the combination of humans and technology not only benefits the company – it also allows [human teams to take credit for strategic](https://www.financedigest.com/the-importance-of-strategic-human-resource-management.html "The Importance of Strategic Human Resource Management") projects that will drive the business forward. **Increasing accuracy, efficiency, and** [employee engagement](https://www.financedigest.com/different-employee-engagement-outcomes-for-u-s-and-canadian-companies-amidst-continued-economic-growth-pressures.html "DIFFERENT EMPLOYEE ENGAGEMENT OUTCOMES FOR U.S. AND CANADIAN COMPANIES AMIDST CONTINUED ECONOMIC GROWTH Pressures") For long term success, insurance providers must implement automation in their businesses to increase [competitive advantage](https://www.financedigest.com/turning-big-data-compliance-into-a-competitive-advantage.html "TURNING ‘BIG DATA’ COMPLIANCE INTO A COMPETITIVE ADVANTAGE"). To be able to compete, [businesses must work on finding new and innovative ways](https://www.financedigest.com/5-simple-ways-in-which-your-business-can-save-water.html "5 simple ways in which your business can save water") to stay relevant and profitable and must use digital transformation to do so. For [insurance providers](https://www.financedigest.com/two-thirds-of-consumers-would-prefer-to-deal-with-a-single-provider-for-insurance-products.html "Two-thirds of consumers would prefer to deal with a single provider for insurance products"), automation is becoming a key differentiator for companies. [Bringing in a team of consultants to implement Process Automation can help businesses](https://www.financedigest.com/how-to-bring-business-and-charities-together-through-events.html "How To Bring Business And Charities Together Through Events") to reap the benefits of technology, improving customer and employee satisfaction. This can be done by  educating staff on what Process Automation (PA) is, how it can add value to the business, and harnessing and [developing skills within the team](https://www.financedigest.com/what-skills-and-areas-of-knowledge-should-finance-teams-develop-during-2023.html "What Skills and Areas of Knowledge Should Finance Teams Develop During 2023? ") to help build excitement and a positive outlook towards the technology. Using Process Automation, businesses can lay the foundations for long term scalable delivery, [automate business-critical processes between departments](https://www.financedigest.com/accounts-payable-departments-lag-behind-in-ai-automation.html "Accounts Payable departments lag behind in AI automation") such as the IT and security departments, and obtain and collate data from multiple sources. PA can also [process customer records in reasonable](https://www.financedigest.com/5-reasons-why-modernising-is-the-most-important-ongoing-process-for-any-business.html "5 Reasons Why Modernising Is The Most Important Ongoing Process For Any Business") timeframes, delivering cost and time savings. Additionally, admin tasks are significantly reduced, [creating an efficient and more productive](https://www.financedigest.com/4-tips-for-creating-a-calm-workspace-to-boost-productivity.html "4 tips for creating a calm workspace to boost productivity") workforce. In a competitive landscape, these benefits can help to [ease pressure](https://www.financedigest.com/analysis-china-central-bank-under-pressure-to-ease-is-hemmed-in-by-inflation-fed-jitters.html "Analysis-China central bank, under pressure to ease, is hemmed-in by inflation, Fed jitters") for businesses and meet the growing demands of customers. In 2020, [Expleo worked with telco company Eir](https://expleogroup.com/client-stories/stepped-approach-to-growth-delivers-cost-and-time-savings-for-eir/) to enhance customer service, improve quality and reduce costs, implementing Process Automation (PA) to encourage engagement and efficiency. Through the PA processes, [employees were able to hand over menial work](https://www.financedigest.com/how-to-protect-your-employees-mental-health-while-remote-working.html "How to protect your employees’ mental health while remote working") to the machines, processing 50,000 orders through robots and saving 10,000 man-hours within online sales. This resulted in 165,000 [financial items processed](https://www.financedigest.com/companies-that-dont-upgrade-their-financial-processes-this-year-will-get-left-behind.html "Companies that don’t upgrade their financial processes this year will get left behind") by PA in 2020 alone and a 60% reduction in the time taken to process orders – bringing it down to an average of 10 seconds in total. **[Creating the digital](https://www.financedigest.com/digital-identities-creating-value-for-individuals-and-industries.html "Digital Identities: Creating Value for Individuals and Industries") workforce** The global pandemic highlighted a concerning digital skills gap across the world, an issue that may affect the transformation of the [insurance sector](https://www.financedigest.com/customer-engagement-in-the-insurance-sector.html "Customer engagement in the insurance sector"). As the demand for new technologies is set to continue to grow, it is important for businesses to start embracing a digital-first approach and invest in developing a new pipeline of [talent for the digital](https://www.financedigest.com/why-data-is-the-best-weapon-in-the-war-for-digital-talent.html "Why data is the best weapon in the war for digital talent") economy. Deploying a digital workforce may seem like a monumental task, but it will allow companies to [grow in this competitive market](https://www.financedigest.com/the-edible-oils-market-to-grow-on-an-innovation-revealing-spree.html "The Edible Oils Market To Grow On An Innovation Revealing Spree"). [According to IDC](http://phc.pt/enews/IDC-FutureScape.pdf), by 2024, over 75% of organisations will implement some level of automation and with the insurance sector consumed by menial tasks, the benefits of Process Automation speak for themselves. By working with a technology partner to help utilise Process Automation within the business, organisations can build [stronger teams and prepare for the industry of the future](https://www.financedigest.com/smarter-safer-stronger-cybersecurity-is-now-critical-to-digital-future.html "Smarter, safer, stronger cybersecurity is now critical to digital future"). --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---