Gyanendra Singh, Chief Technology Officer at Aviva India, shows how the company excels at RPA through governance-based implementation and pragmatic vendor selection:
Ravi Lalwani: In which products and processes is RPA making the biggest impact in your organization?
Gyanendra Singh: Robotic Process Automation (RPA) is my favorite topic and it is close to my heart as I developed a successful in-house RPA platform in my last organization in 2016-17.
RPA has been instrumental in transforming several critical processes across various products and services. One of the areas where RPA has made a substantial impact is in policy issuance. We use RPA to connect digital channels with the legacy core insurance system. By automating routine tasks such as data entry, validation, and document processing, RPA has significantly expedited the policy issuance process, ensuring faster and more accurate resolutions for our customers.
Connecting modern technology stack with legacy core systems is a classic RPA use case. It buys us time until we can do traditional system integration, which is costly and time-consuming.
Which ones were easiest to implement, and which ones were toughest?
All our implementations were remarkably straightforward, underscoring the importance of identifying the right use cases. Our success lies in a meticulous use case evaluation governance system, which rigorously assesses processes against key criteria aligning with the principles of RPA. This governance framework ensures that a process is adequately suited for automation by examining factors such as its manual nature, rule-based characteristics, and repeatability.
The inherent ease in implementing these solutions stems from the clarity brought about by this structured evaluation process. When a process aligns with the RPA philosophy, characterized by its manual, rule-based, and repeatable nature, the implementation becomes inherently streamlined. Identifying these key attributes in potential use cases has proven to be a linchpin in our success, allowing for the seamless integration of automation solutions.
Are you partnering with a single IT vendor or with multiple IT vendors?
In our strategic approach to RPA automation, we have consciously chosen to forge a partnership with a single IT vendor. This decision aligns with our organizational philosophy, emphasizing the principles of lean and agile teams. By opting for a singular collaboration, we aim to streamline our processes, foster effective communication, and enhance overall operational efficiency.
The rationale behind this choice lies in the belief that a focused alliance with a single IT vendor allows for a more cohesive and integrated approach to RPA implementation. This approach facilitates a deep understanding of our unique requirements, enabling the vendor to tailor solutions specifically to our organizational needs. Such targeted collaboration fosters a sense of synergy, ensuring that the automation solutions deployed align seamlessly with our business objectives.
Furthermore, by minimizing the number of vendors involved, we anticipate a reduction in complexities associated with coordination and management. This leaner vendor ecosystem contributes to smoother decision-making processes, faster implementation timelines, and a more agile response to evolving challenges.
Industry Insights
- In India, the BFSI sector has been adopting RPA and hyper-automation to improve customer experience through intelligent, proactive, and personalized policy administration and upsell/cross-sell opportunities, assist and verify claims, and reduce frauds. Owing to RPA’s ability to deliver high value and ROI, its adoption is bound to increase and is a technology that would stand the test of time.
- The use cases of RPA in the Indian insurance industry include claims processing, fraud detection, underwriting, pricing, customer service, and regulatory compliance. RPA adoption offers benefits such as higher revenue, cost savings, 100% accuracy, high-speed processing, and unity between humans and robots.
- According to a study by McKinsey, the insurance industry is expected to automate 25% of its processes by 2025.
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