Workflow and Process Optimisation:

Insurance Industry Challenges and How To Overcome Them

15th January 2025

by Nicky Hjerpe

The insurance sector is at a crossroads. As external forces drive rapid change, internal challenges (like legacy systems, outdated workflows and data inefficiencies) hold many organisations back. So, how do you bridge the gap and take the right path?

The answer lies in reimagining workflows and optimising processes through AI-powered automation and innovative technologies like low-code development.

External forces shaping insurance

1. Macroeconomic context

Market volatility, new entrants and shifting customer demands require more agility than ever before. Insurers must adapt rapidly to stay relevant and resilient in an unpredictable landscape.

2. Generative AI (GenAI)

Technologies like GenAI promise transformational outcomes for insurers. These tools can revolutionise processes—from underwriting to claims management—but require entirely new capabilities to unlock their potential.

3. Regulatory demands

Evolving regulations create a moving target for compliance. Insurers must strike a balance between meeting stricter standards and maintaining operational efficiency.

Persistent internal challenges

While external pressures intensify, internal obstacles remain:

• Processes designed around employees: Rather than focusing on the delivery of customer-centric experience, many workflows focus on internal needs which lead to inefficiencies and delays
• Unstructured information: Data trapped in unstructured formats hinders decision-making and automation potential
• Legacy systems: Ageing technology infrastructure creates bottlenecks, slowing innovation and the ability to respond to market demands
• IT backlogs: Overloaded IT departments struggle to keep up with the pace of required changes, leaving critical projects stalled.

Workflow and process optimisation: A disruptive approach for insurers

To thrive in this environment, insurers must prioritise transforming workflows and optimising processes. Here’s how:

1. Automate repetitive tasks

AI-driven task automation eliminates time-consuming manual processes, such as claims validation and data entry. By automating these tasks, insurers can accelerate operations, improve accuracy and free up resources for more strategic activities.

Example: One leading insurer reduced claims handling times by 35% using robotic process automation (RPA), delivering faster outcomes for customers while lowering operational costs.

2. Enhance visibility with process discovery and mapping

To optimise workflows, insurers need a clear view of existing processes. Process discovery and mapping tools provide insights into inefficiencies, allowing organisations to visualise, analyse and continuously improve operations.

Example: Identifying bottlenecks in first-notice-of-loss (FNOL) workflows enabled a UK-based insurer to redesign their process, improving resolution times and enhancing customer satisfaction.

3. Use low-code for rapid application innovation

Traditional IT development can’t keep up with the speed of market demands. Low-code platforms empower insurers to design, test and deploy custom workflows quickly. This agility helps insurers launch new products and adapt to regulatory changes with minimal delays.

Example: Using low-code, an insurer built a bespoke claims management module in weeks, enabling a 50% reduction in time-to-market for a new line of business.

4. Streamline document processing

Insurers deal with large volumes of documentation, from policy contracts to claims summaries. Intelligent document processing (IDP) extracts, classifies and validates data with AI-driven accuracy, drastically reducing manual effort and processing times.

Example: Automating document generation and validation allowed a European insurer to handle 20% more claims without increasing headcount.

Find a platform solution that houses all the tools you need

Netcall’s Liberty platform brings these capabilities together, offering a comprehensive solution for workflow and process optimisation:

• Process discovery and mapping: Gain insights into inefficiencies and visualise end-to-end workflows
• Task automation (RPA): Automate repetitive tasks for faster claims handling and data entry
• Intelligent document processing (IDP): Accelerate document handling with AI-driven accuracy
• Low-code application development: Create and deploy tailored workflows with speed and agility
• Real-time analytics: Drive continuous improvement with actionable insights.

Balance change with transformation

Insurance leaders must steer a steady course between responding to external change while modernising entrenched internal systems. By optimising workflows and embracing process automation, insurers can:

• Improve operational efficiency
• Enhance customer experiences
• Stay ahead of evolving regulations
• Build resilience in the face of market volatility.