Ventiv Technology Introduces Robotic Process Automation (RPA) for Claims, Risk, and Insurance Clients

Posted on 10 Apr 2018

Ventiv Technology Introduces Robotic Process Automation (RPA) for Claims, Risk, and Insurance Clients

Ventiv Technology, the world’s largest global, independent provider of risk and insurance and claims-administration software, announced today the launch of Ventiv RPA solutions for claim organisations and risk and insurance customers.
Robotic process automation (RPA) is the latest technology that automates manual processes and integrates disparate applications and systems. Ventiv RPA has been created specifically to meet the needs of the risk and insurance, claims administration, and safety management industries. With Ventiv RPA, manual and repetitive work such as gathering external data, pointing-and-clicking, typing, double entry of information, and values checking can be done more quickly, accurately, and efficiently than it can be done by humans.
Ventiv RPA integrates any Ventiv solution such as RiskConsole, iVOS, and/or Capture with virtually any kind of application including websites, email systems, word-processing applications, PDF readers, spreadsheets, and even specialised legacy systems, like policy systems.

In claims adjudication, Ventiv RPA streamlines a wide range of processes, from claim assignment and coding to the integration of claim information from disparate sources and systems. As a result, adjusters are freed to perform tasks that require uniquely human strengths, such as providing attentive customer service and processing complex claims for optimal outcomes.

For risk and insurance teams, Ventiv RPA can help to improve renewals and submissions processes as well as automate the process of managing insurance certificates.

Bill Diaz, CEO of Ventiv Technology, said: “RPA is still an emerging technology, but it has been proven effective in use across sectors and industries. RPA is also well known for generating impressive returns on investment. With the introduction of Ventiv RPA solutions, claim organisations and risk and insurance clients can now relieve their staff of the need to perform repetitive manual tasks; this makes employees more productive and allows them to better handle bigger workloads and growing amounts of information. Ventiv RPA is a remarkable new technology, a game changer for any organisation that seeks to build a responsive, high-growth, and competitive business.”

Peter Yang, CIO of Ventiv Technology, added: “Since it was established, RPA has already proven its value by reducing the rate of errors in manual processes, improving the management of repeatable tasks, standardising process workflows, reducing the reliance on multiple systems and screens needed to complete process, and making straight-through, no-touch processes possible. When compared to other automation solutions, Ventiv RPA is relatively easy and cost-effective to deploy.”