CHICAGO (July 24, 2019) – A flash poll conducted by Baker Tilly Virchow Krause, LLP (Baker Tilly) indicates two-thirds of property and casualty (P&C) insurance organizations are exploring ways to incorporate robotic process automation (RPA) and other forms of automation technology into their business processes.
“Implementing automation technology is a significant cultural and change management undertaking, which may cause automation anxiety for employees,” Claudio Garcia, Baker Tilly director of enterprise transformation services, said. “Because they may worry their jobs will be eliminated through RPA implementation, it is important to educate workers about how new technologies help eliminate routine, mundane tasks so that they can spend more time on value added work.”
“When insurers first hear about RPA and other forms of automation, many view it as a daunting project that requires a lot of time, effort and capital to implement,” Daniel Buttke, CPA, Baker Tilly partner in the insurance advisory practice, said. “However, insurers don’t realize that they have often been exposed to some type of automation in their current roles, including optical character recognition software utilized in functions such as claims intake or underwriting. The key is to keep an open mind so that the concept of implementing automation technology is not as big of a challenge as you may initially think.”
Baker Tilly recently held an educational webinar, Understanding digital transformation for P&C insurers: robotic process automation as a strategy, to assist P&C insurance organization professionals learn about how insurers are using RPA technologies to enhance their digital transformation, creating operational efficiencies, engaging customers and becoming a data driven organization.
The webinar presenters discussed:
A recording of the webinar is available at https://www.bakertilly.com/insights/understanding-digital-transformation-for-pc-insurers.
Baker Tilly US, LLP (Baker Tilly) is a leading advisory, tax and assurance firm whose specialized professionals guide clients through an ever-changing business world, helping them win now and anticipate tomorrow. Headquartered in Chicago, Baker Tilly, and its affiliated entities, have operations in North America, South America, Europe, Asia and Australia. Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 145 territories, with 34,700 professionals. The combined worldwide revenue of independent member firms is $3.6 billion. Visit bakertilly.com or join the conversation on LinkedIn, Facebook and Twitter.