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ZENODO
Article . 2024
License: CC BY
Data sources: ZENODO
ZENODO
Article . 2024
License: CC BY
Data sources: Datacite
ZENODO
Article . 2024
License: CC BY
Data sources: Datacite
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THE ROLE AND TYPES OF AUTOMATION IN THE LIFE INSURANCE INDUSTRY

Authors: Researcher;

THE ROLE AND TYPES OF AUTOMATION IN THE LIFE INSURANCE INDUSTRY

Abstract

This article explores the transformative impact of automation technologies on the life insurance industry, examining their role in revolutionizing operational processes and strategic management. It discusses various types of automation, including Robotic Process Automation (RPA), Artificial Intelligence (AI), Machine Learning (ML), and blockchain, and their applications in underwriting, claims processing, policy management, and customer service. The article highlights the significant benefits of automation, such as increased efficiency, enhanced accuracy, improved customer satisfaction, cost reduction, and better compliance. It also addresses the challenges of integrating these technologies with existing systems and provides case studies demonstrating the successful implementation of automation in leading insurance companies. The article concludes by emphasizing the critical importance of embracing automation for insurers to remain competitive in an increasingly digital marketplace.

Keywords

Automation, Life Insurance, Artificial Intelligence, Robotic Process Automation (RPA), Insurtech

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average