This infogaphic explains the future of insurance with a use case and key automation trends in the insurance sector.

1. The Digital Insurance
Timeline in 2020
Automation is getting increasingly
adopted across the insurance sector. Let’s
take a look at how the digital customer
journey in insurance might look like in the
near future.
Thomas is an existing customer of an insurer.
A timeline like this, powered by Cognitive Technologies, RPA, Machine Learning and Artificial Intelligence is
fast becoming a reality in the insurance sector.
Current State of Automation Technologies in Insurance Companies
Adoption of Automation Technologies in Insurance
Already Implemented
Already Piloted
A
rtificialIntelligence
M
achine
Learning
20%
19%
26% 25% 28%
13% 13%
10%
23%
14%
14%
21% 16%
16% 14%
19%
Com
puterVision
N
aturalLanguage
Processing
N
euralN
etw
orks
R
obotic
D
esktop
Autom
ation
R
obotic
Process
Autom
ation
VirtualAgents
(Source: HfS Research)
The future of insurance is here!
Automation gives insurers an opportunity not only to reduce cost,
but also to rethink how they can improve customer experience.
Are you ready?
RapidValue is a leading provider of end-to-end mobility, omni-channel, IoT, RPA and cloud solutions to enterprises
worldwide. Armed with a large team of experts in consulting, UX design, application development, testing along
with experience delivering global projects, we offer a range of services across various industry verticals. RapidValue
delivers its services to the world’s top brands and Fortune 1000 companies and has offices in the United States, the
United Kingdom, Germany and India.
+1 877.643.1850 contactus@rapidvaluesolutions.com www.rapidvaluesolutions.com
© RapidValue Solutions
10:12 AM Saturday, May 3
5:50 PM Friday, May 2
@ThomasDave: All set for my first Swiss Alps vacation in June. Excited!
6:00 PM Friday, May 2
10:05 AM Saturday, May 3
Hi Thomas, This is Alex from your insurance
company. How are you doing today ?
You’re welcome. Do let me know if I
could be of any other help.
This was regarding your upcoming trip to
Switzerland. We have some wonderful travel
insurance policies for you and your family. In
case you are planning to go skiing in Alps, we
have some special discounted rates for you.
Sure! I have just sent you an SMS that has a
link to your personalized plan. It has options
from five different travel insurers. You could
also log into our mobile app and buy the
policy instantly.
I’m doing good. Thanks!
That’s great! Can I have a look at them right now?
Sure. I’ll do it right away. Thanks, Alex
Thomas clicks on the URL sent in the SMS and then logs into the
insurance mobile and goes through the available polices, compares
them and buys them immediately.
The newly implemented cognitive system of Thomas’ insurance
company generates insights by analyzing his social media
interactions and past historical data.
- Thomas is a frequent traveller. He is married and has two kids.
• He likes adventurous sports such as sky diving.
• Best time to call Thomas is Saturdays 10 AM – 11 AM.
https: bitly.com/confirm
Pilot vs Implemented
Hi
Thomas
Calling...
Insurance industry spending on cognitive technologies is expected to
rise 44% globally, reaching $1.02 Bn by 2020.
Product Development01
Underwriting03
Claims05
Marketing Distribution02
Policy Admin04
Cross Selling,
New Product Offerings
Artificial Intelligence, Machine Learning,
Recommendation Engines
Customer Onboarding,
Robotic Renewals
Faster Document Delivery,
Handle Service Requests,
Loation-based Interaction
Robotic Process Automation
Chatbots
Invoicing Robotic Process Automation
Payment Reminders
Sentiment Analysis
and Fraud Detection
Chatbots
Robotic Process Automation,
Artificial Intelligence, Machine Learning
Personalization Chatbots, Artificial Intelligence,
Machine Learning
Intelligent Coverage Match,
Cross-selling Options
Artificial Intelligence, Machine Learning
Robotic Process AutomationKYC / User Identification
Faster Processing of
Application Process
Automated Underwriting, Artificial Intelligence,
Machine Learning
Information Updates in
Back-end Systems,
Second-level Underwriting
Robotic Process Automation
Intelligent Risk Selection,
Accurate Pricing
Artificial Intelligence, Machine Learning
ChatbotsFaster Processing of
Application Process