The automation transformation

For insurers looking to maintain and gain market share, pressures are mounting from traditional as well as digital-first challengers. At the same time, customers are looking for greater choice and flexibility. Many insurers recognize the value intelligent automation (IA) technologies can potentially deliver to meet these and other market challenges, yet are hampered by legacy technology platforms and time-consuming manual, paper-based processes.

Best-in-class practices

In order to remain competitive, insurers are well advised to chart a course now for when and how automation technologies will be implemented across the business. Best-in-class insurers are doing this, focusing their attention on two key areas to achieve long-term success and competitive advantage through automation:

• Creation of a vision for a scalable, enterprise-wide IA program.
• Development of an implementation process that will enable an effective IA transformation.
  

Key implementation components

Insurers can get the most value from their IA investments through effective implementation and transformation processes, which include these four key IA implementation components:

• Using the right approach to implementation
• Establishing the proper governance structure needed to run an IA transformation program
  
• Choosing the right IA operating model
  
• Effectively managing change in order to smooth the transition
  

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