Navigating COVID-19 Changes In Insurance With Hyperautomation | UiPath
Sathya Sethuraman leads Global Insurance Practice at UiPath.
Editor’s note: Special thanks to Keith Winn from Cognizant and David M. Korpalski from Hastings Mutual Insurance Company for participating in our recent webinar. We’re excited to share insights from the webinar in this article.
As the world faces economic and public health uncertainty, people turn to their insurance companies to cushion themselves against losses and provide financial relief. The trouble is, many insurance companies find themselves facing the same economic hurdles and capacity strains as other businesses.
In a PwC report on the 2019 novel coronavirus (COVID-19) and the insurance industry, business leaders identified their top three concerns:
- Financial impact (including effects on operational disruption, future sales slowdown, and capital / liquidity constraints)
- Potential global recession
- Reduction in productivity
If you’re reading this, you’re likely concerned about the same things.