Salama Cooperative Insurance has teamed up with an information management service provider to roll out a robotic process automation (RPA) solution.
As part of the agreement with InfoFort, a virtual workforce will be deployed to the Takaful provider’s motor claims department where two software robots will work simultaneously to sync the claims process between Najm – a semi-government service provider that works as an intermediary between the individuals and insurers – and Salama’s core insurance system.
“The robots will track if the new claims were assigned to Salama or Najm, download all supporting documents related to the claims and automatically print necessary files. Once the claim has been registered on the core insurance system, it will update the status and populate requested details on Najm’s portal,” explained Salama.
An additional two robots will be mobilized to facilitate operators’ day-to-day work on the core insurance system and eliminate manual errors as well as expedite routine jobs by automating repetitive tasks.
“The insurance sector is often inundated with back-office processes and paperwork that can slowdown or adversely impact productivity. Due to these reasons, we are seeing a growing number of regional companies turning to automation technologies to help alleviate and streamline their workload,” Wissam Achmar, vice-president of Digital Solutions of Infofort, said.
Salama is part of a growing force of Islamic financial institutions turning to business automation to enhance efficiency; most recently, Kuwait Finance House inked a deal with EY to mobilize an RPA program. Gartner predicts that global spending on RPA software will reach US$1 billion by 2020.