Gleematic Co-Founder, Ada Lim, is presenting Cognitive Automation for Insurance
As technology grows rapidly and shifts market demand, we all must be prepared to resort to adapt and expand our knowledge to be up-to-date in order to stay relevant. There is a need to brainstorm insights related to how to outrun technology growth to keep in pace with innovation and creativity. As the problem arises, Asia InsurTech Summit 2019 emerges. This conference bridges innovation insights among insurance and technology experts as they gathered to discuss how to keep in pace with technology, adapt, improvise, and overcome to innovate.
On 3rd – 5th April 2019, Gleematic team took part in Asia InsurTech Summit 2019 which was held at Mandarin Orchard Hotel, Singapore. Over 210 delegates from different sectors such as insurance, technical providers, service providers, and regulators were gathered and some exhibited along with Gleematic Team.
During the conference, there were a few topics to be discussed. They were categorized in InsurTech & Agents, Fundamentals of InsurTech, Distribution, HealthTech, IT, and other common topics in the related field.
Our Co-Founder, Mrs. Ada Lim, delivered a speech regarding How Cognitive Automation Can Assist Insurance in order to keep in pace within the rapid growth of technology. This speech was delivered as the form of Successful InsurTech Case-studies in Asia.
A lot of internal business processes are time-consuming and repetitive. As for the example, a lot of data the insurance agent must carefully analyse in order to find the right insurance target and do a calculation to predict their likelihood in making purchases. Also, the insurance agent would need to propose a suitable insurance product for customers by before manually checking their data. Those time-consuming and overwhelming tasks can be diminished by using a virtual worker, Gleematic.
Gleematic Cognitive Automation (RPA with A.I) can eliminate rules-based tasks and help to improve internal business processes of an insurance company. It can benefit insurance company in the underwriting process, marketing and sales distribution, customer service and policy administration, claims, regulatory and statutory reporting. By automation, repetitive tasks can be eliminated and shorten time to do so. Therefore, using Gleematic Cognitive Automation can save FTE (Full Time Equivalent) by 10-50%. Through those explanations, Gleematic team can prove that automation will surely improve a better internal process.
At the end of the discussion, our CEO also highlighted important pointers to take note before they implement cognitive automation. It’s important to define the aim or the result desired for implementing cognitive automation.
Gleematic team hopes the information delivered can be beneficial to motivate insurance company, to keep getting advanced along with technology by considering cognitive automation in their business.