RACQ insures future with ABBYY and UiPath

One of Australia’s largest insurance companies, RACQ, has completed a project to enhance its claim processing using ABBYY content intelligence capabilities in tandem with UiPath’s robotic process automation (RPA) platform.

From its origins as the Royal Automobile Club of Queensland, RACQ now offers in addition to roadside assistance a full site of insurance and banking services.

“With circa 150,000 insurance claims to process annually, our processes were burdened with poor digitization quality, manual data entry and human errors,” said Greg Booker, Group CIO at RACQ.

“By working closely with our partner Blackbook.AI, we integrated UiPath RPA with ABBYY content intelligence solutions and achieved significant improvements across the entire process – from claim setup to invoice clarity.

“Using a combination of ABBYY and UiPath RPA contributed to a productivity benefit of over 5,000 hours within the claims processing during FY19, and is forecasted to increase in FY20,” said Booker.

Research firm IDC forecasts the intelligent process automation market, a group of technologies including content intelligence, will grow to $US20.7 billion by 2023, and estimates the RPA market to grow to $US3.9 billion by 2023.

ABBYY describes digital IQ as the skills the digital workforce needs to understand enterprise content and processes.

“Leveraging AI and Machine Learning technology to enable highly skilled RPA robots is a key strategy for UiPath. ABBYY is a strategic partner to UiPath, providing innovative technologies that enable enhanced robot skills in content intelligence,” said Dhruv Asher, SVP of Alliances and Business Development from UiPath.

“By combining ABBYY offerings with our platform, we deliver integrated capabilities that turn content into information and information into intelligent insights and actions, delivering significant value to our customers and partners.”

The ABBYY FlexiCapture Connector is currently available in the UiPath Go! Marketplace where developers can easily add content IQ skills to the UiPath RPA platform. Additionally, ABBYY Vantage is available to UiPath customers. Vantage is built for the citizen developer helping organizations accelerate their digital transformation by delivering advanced content IQ skills to perform like humans.

“ABBYY has been instrumental in helping digital workers and intelligent process automation platforms become smarter using a new class of AI technologies that fuel digital workers and a company’s greatest asset – its content,” stated Bruce Orcutt, SVP of Product Marketing at ABBYY.

“Digital IQ is important because companies are finally able to make more intelligent business decisions faster based on data, not opinion or bias. It has also become a valued asset to RPA vendors that recognize the need beyond simple digitization.”

For more information, visit https://www.abbyy.com/en-au/