Are manual workflows hindering your business?
Will technology advance to where automation and mechanization can do all the work for us, allowing humans to sit on beaches, play golf, and self-actualize? Unfortunately, this outcome does not appear to be on the horizon for most. The good news is that incorporating automation can make many jobs less monotonous and more efficient. Eliminating routine and redundant pieces of an institution’s business processes makes for more meaningful work, higher levels of job satisfaction, and increased profitability.
So, what’s an automated workflow? An automated workflow is created when tasks are managed by a series of “if/then” statements dictating the order of business operations. One user completes their task, and the system hands it off to the next person who must complete their piece before it moves on. Automated forms, email reminders, and automatic billing are all common pieces that speed up processing times, reduce the opportunity for errors, and improve overall efficiency.
This is the third stage of digitization. First was “going paperless.” Second was standardizing online forms. Now, automation checks off and dispatches each piece of a job from start to finish.
Across disciplines and industries, businesses that replaced their legacy systems with automated workflows have found the following benefits:
🗹 Increased Productivity
Automating pieces of your business speeds everything up. Tasks that were once manual are now done in the background, repetitive tasks are removed, and redundancies that once served as back-checks are eliminated. More work completed in less time means more competitive and more profitable.
🗹 Eliminates Human Error
Even the most consistent workers make errors. Automated workflows remove the opportunity. Nothing gets lost or ruined by bad math. If the automated system is designed correctly, it will include layers of audits, manual calculations, and field limits.
🗹 Reduces the Training Burden
No amount of industry knowledge would have ever prepared a new employee to navigate how operations are carried out. The insurance industry of old was notoriously paper-laden and process driven. Think: “…and after you sign both copies, leave one in a red folder in the box by Bonnie’s door.” Replacing these manual workflows of old with automated systems will often direct workers through their responsibilities. The system ushers them through each step of their process without needing a human chaperone.
Management Research Service provides industry-leading automation
The Management Research Services (MRS) no-code insurance services platform represents the latest in the industry-wide migration to automated technology. Our system is designed for any sized business or third-party carrier offering life and annuity insurance. By automating the application, record-retrieval, and end-user service aspects of the businesses, our clients see increases in efficiency, less opportunity for errors, and reduced time spent training or explaining. Our no-code insurance services platform and e-App is intuitive and easy to use. We build the system to accommodate even the most complex underwriting decisions; applications are processed with immediacy and quotes are offered at the point of sale in just moments. Contact the staff at MRS to learn more about how our automation technology can help transform your business.
Originally published in MRS Blog