Nividous

Technology is rapidly reshaping the way banks and financial institutions operate. Organizations understand that they need to invest in new disruptive technologies if they want to transform. However, it is not just the technology, they need to grapple with the big changes to their operating models as they start their digital transformation journey. Many companies are struggling to make the digital transformation happen because the challenge is so daunting. Before we jump to the role of  Robotic Process Automation In banking  and finance companies ’ digital transformation journey, let’s quickly understand the most powerful drivers of this much-needed transformation. These drivers can be categorized in four C’s: Customers: Tech-savvy customers expect differentiated digital experiences on the go Competitors: To keep up with the competitive environment, adoption of disruptive technologies has become a mandate Cost: The need to reduce cost using smart technologies and invest more in inn

According to research conducted by Accenture, ‘Unleashing the potential of intelligent solutions could yield a $10- to $20-billion profit boost for the North American insurance sector.’ If we talk about Life Insurance specifically, according to KPMG, ‘India alone books about 360 million life insurance policies in a year which makes it one of the biggest markets of life insurance in the world, which is expected to increase at a CAGR of 12 to 15 percent over the next five years.’ The industry is witnessing a rapid expansion on a global scale and Robotic Process Automation can empower insurance companies to cope with the change. Robotic Process Automation (RPA) in the Insurance industry has proven to be a game changer when applied to core processes such as claim management, underwriting, policy acquisition and services, and back-office operations. Join Alan Hester, President at Nividous as he talks about the RPA use cases in the insurance industry and its positive impact

Grand View Research estimates that the current global market for RPA is worth $125.2 million, which it expects to grow to $8.75 billion by 2024. Undoubtedly the adoption of Robotic process automation (RPA) technology is on the rise in its ability to deliver quick ROI and enhanced control of the operations. Further, when combined with traditional business solutions, it can accelerate digital transformation by allowing organizations to visualize and monitor end-to-end business processes that lay the foundation for continuous process improvement. This platform can then serve as the base from which an enterprise transformation can be delivered. But RPA software adoption represents a pivot from people to a software-based model. This is a fundamental shift in the approach of business operations. As a business leader, why is this pivot so important? What is the business value that can be attained?  Find the answers with the below mentioned top 4 benefits of robotic process automa