People file insurance claims in times of crisis and pain. The last thing they need is for their insurance company to be slow and sloppy. Fail them in their moment of suffering and they will never trust you again. But exceed their expectations with a faster turnaround time powered by Data Processing Automation, and they will settle in with your company for the long haul.
What Does DPA Do?
DPA captures information from customer forms and populates fields in any software your company uses. Integration is easy. You won’t need to rely on developers to patch your problems. DPA is a software agent that acts like a human worker. It works across applications like a person. It also works 571 times faster than a human worker with no errors. Using modern OCR technology, DPA can even extract data from handwritten forms and put it in the right place in seconds.
In one case study, collecting contributions, DPA automated 82% of transactions. The time per transaction dropped from 5 min to 35 sec, which saved 445 days of productivity for a set of insurance workers.
Some back-office processes require human decision-making. DPA can turn a 200-click process into a 10-click process so that the employee can zip through it. This allows insurance companies to lean out their office staff without outsourcing. It allows them to retain people for higher-value work, increasing productivity and profits.
What do Insurance Agency Professionals Need to Know?
Managers of insurance companies might be thinking, “Okay, that sounds like a powerful tool, but what does it cost?” How much work do I have to do to get this up and running?
Excellent questions. Our DPA service has no real “cost” or investment! We do all of our own discovery work. Then, we automate your work. You get to sit back and watch us scale back your workload so that you can scale up your business. It’s that simple!
We would love to hear thoughts from insurance professionals, or anyone interested in talking about this powerful technology. Leave your thoughts in the comments below!