What does RPA stand for in insurance? Let’s unpack the acronym.
Robotic
Not a machine robot, but a software robot that mimics human interaction with digital systems. For example, it might log into an insurance platform, extract claim details, copy them into another system, and kick off the next step. The end result is a lot like having a human complete the task, but faster and more accurate.
Process
RPA is designed to handle repetitive, rules-based workflows: the kinds of tasks that follow the same steps every time. For example, verifying policy details, matching claim data to coverage, or sending standard communications to customers. These are full, structured processes that don’t need human decision-making, they just accuracy and speed, and RPA handles them really well.
Automation
This is where the magic happens. With RPA, insurers get true insurance automation, not just digitization. When one task is done, the next one starts, until the defined process is complete. This results in fewer errors, lower costs, and faster turnaround times.