Insurance companies are increasingly exploring how automation can support operational processes and business continuity. (iStock)
As more and more individuals and businesses are impacted by the global COVID-19 pandemic, insurance companies are dealing with an influx of disability, workers compensation, business interruption, medical claims and customer requests. Projections show that insurance carriers will be increasingly tasked with managing requests and complaints as the full health, financial and other ramifications continue to fully reveal themselves.
Several areas of insurance operations have already experienced strains inflicted by the pandemic. It has become challenging for some to effectively manage this influx. While issues like understaffed call centers and operational changes brought on by social distancing have short-term impact, remote work mandates and failure of business continuity plans are expected to have long-term repercussions for operations. To respond, insurance companies are increasingly exploring how automation can support processes.
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