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Are you thinking about adding a robotic process automation (RPA) bot to your insurance agency workforce?
That’s awesome!
Automating tedious, repetitive tasks can be rewarding for everyone in your agency. But if you are on the fence, these answers to FAQs from our clients can shed light on some of your biggest questions.
Is RPA expensive?
RPA offers a cost-effective way to save time, reduce errors, and boost efficiency, delivering significant value over time.
While the initial investment depends on the complexity of the processes being automated, the long-term benefits—such as improved accuracy, streamlined operations, and more productive use of employee time—far outweigh the upfront costs, making it a smart and high-ROI decision.
What agency processes are the best fit for RPA automation?
RPA shines when handling tasks that are repetitive, rule-based, and high-volume. Tasks that drain your team’s energy but don’t directly involve in revenue generation are the perfect choice.
Any data entry task, and AMS processes like direct bill reconciliation, sending NOCs, document retrieval are prime candidates. Also, processes that seasonally rise in volume, like policy renewals are also good for RPA.
In a nutshell, if a task involves lots of manual steps, has a clear set of rules, and is prone to human error, it’s likely a great fit for RPA.
Is it difficult to implement and maintain RPA?
Implementation difficulties are based on how complex the process is.
Straight forward and rule-based process can be automated easily. Complex workflows with multiple integrations require more time and additional planning.
Regarding maintenance, your bots will need updates only if there is a change in the system or process. At vBots, we ensure periodic audits and maintenance as part of our service to keep our bots running smoothly.
What are the IT requirements for the bot?
There are minimum system requirements for the bots to function smoothly. You will need windows 10 or 11 operating system, 32 gigabytes of disk space, 8 gigabytes of RAM and 4 x 2.4 GHz 64-bit (x64) CPU cores.
Agencies also have two options for bot deployment: offline or online.
Offline deployment involves hosting the bot on premises, meaning the bot operates within the agency’s own infrastructure. Online deployment, on the other hand, involves hosting the bot on virtual machines provided by the bot vendor, enabling access through cloud-based services.
Are humans required to monitor RPA processes constantly?
Short answer – not necessarily.
Most of the processes automated in the insurance agency are repetitive, rule-based and performed daily. Unattended bots scheduled to trigger at a particular time of day are the perfect fit. Unattended bots generally give the best ROI as they execute tasks without any human intervention, 24/7.
On the other hand, attended bot work alongside humans is best suited for processes that are done occasionally and either repetitive, error-prone, or both. For both attended and unattended bots, minimal supervision during the initial setup is required.
Are RPA bots scalable for the future?
Yes. RPA is scalable.
You can automate a part of a big process, understand RPA, see its benefits, and go on automating. In fact, we recommend agencies start small, automate a process like document retrieval first and add other bots such as NOC or renewals later.
Do note that all these bots can be operated and maintained using a single RPA orchestrator platform that can be either hosted locally or in the cloud.
For agencies with smaller RPA initiatives, online deployment is the perfect fit. It gives agencies the power to grow and scale their RPA programs as and when they’re needed. This way agencies can avoid the expenses of building and maintaining an RPA infrastructure.
How long does it take to implement RPA?
The time it takes to implement RPA depends on the complexity of the processes you’re automating. Simple, well-defined tasks can be automated in weeks, while more intricate processes might take a couple of months. We have deployed vBots in as little as 3 weeks, though the process can take anywhere between 3 to 10 weeks.
Is RPA Secure?
RPA bots interact with your systems and applications like a human and need security precautions like humans.
With proper governance and right privileges, most security threats can be averted. As the bots are hosted by the agencies, either on premises or in the cloud but inside the organization’s domain, the bot’s security is as good as the agency’s security.
On the other hand, RPA projects require secure development and safe deployment. Choosing a vendor who prioritizes security above everything is the key.
Read our blog- Best Practices for Mitigating RPA Security Risks for more understanding.
Where do I start with RPA?
The best way to begin your automation journey is to start small. Think about automating a well-defined, high-volume task that is both repetitive and has a high potential for positive impact such as direct bill reconciliation or sending out notices of cancellation. Starting small allows you to achieve quick wins, as smaller projects deliver results faster, minimize risks, and provide valuable opportunities to learn and adapt.
Choose Eleviant vBots
Eleviant has established itself as a leader in the RPA space, automating over 100 workflows for more than 50 agencies in the past two years. Our accelerator bots are ready-to-use automation tools that can be implemented within just three weeks. From crafting a strategy to full deployment, we’re here to help your agency unlock the full potential of automation.
