Robotic Process Automation ( RPA ) and Artificial Intelligence ( AI ) : Rethinking Insurance

2. SPEAKERS Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. Srikanth Vijay M Senior Product Manager Srikanth leads the Business Analysis team at Imaginea. He has spearheaded several strategic automation initiatives for our insurance customers. Srikanth also has an extensive understanding of the automation landscape with a focus on emerging areas like Robotic Process Automation and Artificial Intelligence. Suresh Babu Chief Revenue Officer Suresh drives Imaginea’s business growth through robust sales, marketing, and business strategies. He is a proven leader with a successful track record spanning 20 years, and is known for his ability to build high-performance teams and drive profitability and growth.

3. The connected future with RPA Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. THE INDUSTRIAL REVOLUTION Mechanization, water and steam power MASS PRODUCTION Electrical power and assembly lines COMPUTERIZATION Automation and digitization, Internet and online DIGITAL TRANSFORMATION The digital economy, IoT, Cyber and AI, Advanced robotics and automation INDUSTRY 1.0 INDUSTRY 2.0 INDUSTRY 3.0 INDUSTRY 4.0

4. The role of RPA & AI in process automation Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. RPA Systems based on rules. AI Systems that learn. Automate easy tasks, hands over data to AI AI learns to mimic and improve processes based on data handed over from RPA ▪ Access legacy system data ▪ Filling in web forms ▪ Copy data from one system to another ▪ Learn from human decisions ▪ Make fast judgments ▪ Interact with humans PROCESS AUTOMATION

5. AGENDA Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. RPA & AI: Expectation vs. reality Planning & implementing automation initiatives Key success factors Case study: RPA & AI in action Summary

6. Key takeaways Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. Role of RPA and AI in automation Why RPA and AI implementations don’t achieve their goals? Planning and implementing automation initiatives that deliver high ROI How can you maximize the benefits from RPA and AI in your automation initiatives? 1 2 3

9. RPA & AI: Are they delivering on the promise? Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. Expectation ▪ Automated and streamlined end-to-end processes ▪ High ROI through reduction in manual effort ▪ Improved quality Reality ▪ 30 to 50% of initial RPA projects fail ▪ Siloes of automation that is tactical and not strategic ▪ Costly implementations with low returns ▪ Service Quality issues due to automation failure

10. What is the role of RPA and AI in automation? Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 1 Expand automation to areas not addressed effectively by traditional approaches (BPM, Workflows, Business Rules Engines, etc.) RPA AI Reduce overall cost through pre- defined automation features Extract information from templated insurance documents Automate processes where integrations are expensive or not feasible Create and email quote from AMS Automate processes that are prone to change Claims processing that is customized by the state or LOB Handle process volumes that are low, medium or high Handling peak season volumes like Jan 1 renewals

11. What is the role of RPA and AI in automation? Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 1 Expand automation to areas not addressed effectively by traditional approaches (BPM, Workflows, Business Rules Engines, etc.) RPA AI Processes that require human-like behavior Handling customer enquiries Derive information from unstructured data Extract policy and claims information from policy documents Automate tasks that require complex decision making Property assessment on IoT devices’ data Processes that need to adapt to changing input patterns Fraud detection of claims

12. ▪ Automation in silos ▪ Wrong process prioritization ▪ Low focus on exception handling and process monitoring ▪ Using POCs as the only benchmark of assessing opportunities and benefits ▪ ‘One solution fits all’ approach ▪ Aiming at full automation, ignoring ROI ▪ Lack of business ownership ▪ Managed as multiple individual projects rather than as a program ▪ No dedicated maintenance and change management team Why RPA and AI implementations don’t achieve their goals? Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 2 Poor planning Inadequate opportunity assessment Ineffective project structure

15. Define the ‘Why’  Goals Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 1 IDENTIFY GOALS DEFINE THE GOALS Organization Division Team Process Revenue Efficiency and cost Quality Scalability Customer satisfaction Compliance

16. Assess the ‘What’  Opportunities Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 2 IDENTIFY AUTOMATION OPPORTUNITIES QUANTIFY BENEFITS AND RANK OPPORTUNITIES Granularity can depend on the level (organization/division/ team/process) at which the opportunities are being assessed Manual effort Multiple applications Processing time Turn around time Quality Customer satisfaction Volume Business priority

17. Define the ‘How’  Automation roadmap (1/2) Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 3 Prioritize opportunitiesMap approaches to opportunities Unstructured data / complex decision making AI Structured data Integrations Process flow RPA or Traditional Automation Decision based on ▪ Process maturity ▪ Frequency of change ▪ Readily available APIs ▪ Frequency of change to UI

18. Define the ‘How’  Automation roadmap (2/2) Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 3 INPUT FROM EMAILS CLASSIFICATION ▪ Type of information to be extracted ✓ Standard email fields ✓ Attachments ▪ Type of documents ✓ Unstructured ✓ Not templated ▪ Change in document categories ✓ Not frequent ▪ RPA (chosen) ✓ Out-of-the-box feature ▪ Integration with mail application ▪ AI (Chosen) ✓ Large training and test data available ▪ RPA for frequently occurring document categories Evaluation criteria Solution approaches

19. Always know the ‘Status’ (1/2) Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 4 Include process, RPA and AI governance in the automation roadmap ▪ Process monitoring ▪ Exception handling ▪ Task management ▪ Regulatory compliance ▪ Monitoring ▪ Configuration ▪ Deployment ▪ Exception handling PROCESS MANAGEMENT ROBOT MANAGEMENT AI MONITORING ▪ Monitoring accuracy ▪ Managing outliers ▪ Error handling Evaluate RPA orchestrator vs. building custom application with low-code platforms like WaveMaker GOVERNANCE

20. Always know the ‘Status’ (2/2) Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 4 Include process, RPA and AI governance in the automation roadmap PROCESS GOVERNANCE ROBOT MANAGEMENT AI MONITORING AI Accuracy Report for Document Identification Total Documents AI Identified Percentage Accuracy 1000 950 95% # File name Actual Doc Type AI Identified Type 1 File1.pdf Policy Policy 2 File2.pdf Policy Policy 3 File3.pdf Correspondence Correspondence 4 File4.pdf Endorsement Policy

22. S Problem statement: Streamline operations Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. XYZ Insurance Company grew manifold over the last 20 years. Like many insurance companies of its size, it had focused on revenue generation and not as much on improving operational efficiencies. New business/account management/finance Operations Carriers Clients ▪ Redundant activities ▪ Poor work distribution ▪ Reduced quality resulting in escalations ▪ Low data integrity & security due ▪ Long turn-around times ▪ Lack of visibility to into operations ▪ Delayed response to customer queries Suppliers DMSAMS

23. Solution: Automation opportunity assessment Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. RPA AI Integrations Database driven workflows and business rules Dashboards and monitoring functionality Data warehouse for operational reports and advanced analytics Automation Task management and work allocation Process, robot and AI governance Analytics

24. EXAMPLE 1: Document indexing Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. Documents received through email Trigger AI Pipeline Get additional information based on policy/ client details Clients/ Carriers Robot 1 2 4 8 6 7 Request DB AMS Poll mailbox for new emails OCR Document Classification (AI) Extraction (AI) Mailbox Update details for document Create request for document 3 5 Update AMS details for document Manual verification and update (process management application) Document Library 9 Save document in DMS with metadata STEPS AUTOMATED ▪ Read emails and create requests in request DB ▪ Classify and extract information from documents ▪ Get policy and client information from AMS ▪ Send document to DMS with metadata BENEFITS ▪ Achieved 40% gain in efficiency ▪ Classification accuracy of 90% and Extraction accuracy of 80% ▪ Extracted information like claim information used for data analysis

25. EXAMPLE 2: Accounts Payables Automation Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. STEPS AUTOMATED ▪ Automatically read invoice data from emails ▪ Create invoices and issue payment in financial system BENEFITS ▪ ~50% of the process automated Invoices received through Mailbox Create invoice Poll mailbox for email Extract invoice data Check database for new item Fetch payment due Issue payment Suppliers Robot 1 2 3 4 5 6 7 Temp. databaseFinance system Mailbox

26. EXAMPLE 3: Migration Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. STEPS AUTOMATED ▪ Migrate policy and claim data from legacy system to new AMS BENEFITS ▪ Migration completed in 80% lesser time than if done manually Get client data Robot Read List Create PoliciesGet policy data Create Clients 1 2 3 New AMSLegacy DB List of Clients and Policies

28. Design for scale and performance Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 1 Growth in transaction volume No. of emails received as of today is 1,000,000 per year. Expected to reach 2,000,000 in 2 years How many transactions should the solution process in a given time? 1,000 documents have to be processed in 8 hours How can the solution scale to handle additional volume? More robots, more CPU/ GPU

29. Focus on exceptions: Leads to a robust implementation Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 2 ▪ Most processes adhere to the Pareto 80:20 rule w.r.t exceptions ▪ Missed exceptions most frequently lead to escalations ▪ Handling the 20% exception can take up 80% of implementation effort Identify exceptions Re-engineer process to reduce exceptions Automating the exception processing Flag exception for manual handling Or BENEFITS TO DRIVE THE DECISION

30. AI in AI projects is typically the smallest effort Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 3 AI Project Training and test data preparation QA AI development Pre and post processing components Monitoring and audit trails BEST PRACTICES ▪ Define the minimal acceptable accuracy and target accuracy ▪ Plan a pre-implementation stage for training and test data preparation ▪ Automate QA and Reporting ▪ Standardize reporting of accuracy metrics - Helps project management - Can be used for monitoring and audit in the long run

31. Factor changes to existing applications Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 4 Handle the re-engineered process Automate certain steps easily e.g. getting additional fields from an existing API Provide data for automation solutions Existing applications may need to be changed to … ENSURE THAT THE CHANGES TO DEPENDENT APPLICATIONS ARE PLANNED ALONG WITH THE NEW AUTOMATION SOLUTION

32. Conduct a post implementation assessment Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. 5 MEASURE SOLUTION PERFORMANCE • Throughput - Verify automation results manually in production • Accuracy - No. of transactions that the solution processes in a given time • Exceptions - Tasks that the solution failed to handle - Tasks that went through Exception flows • Utilization - Percentage of time the BOT is working on tasks • Adoption - % of expected transactions handled through the solution - No. of users EVALUATE ROI • Quantitative analysis - Reduction in manual effort - Process scalability - Quality improvement - Client and user satisfaction • Qualitative Analysis - Process governance - Reporting - Ease of change management - Process agility USE THE FEEDBACK TO FINE TUNE THE OVERALL AUTOMATION ROADMAP

33. SUMMARY Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve.  RPA and AI are great enablers of automation; provided initiatives are planned and executed carefully  Always start with an Automation Opportunity Assessment; quantified benefits should drive the roadmap  Consider features for Governance and changes to existing applications in the automation roadmap  Plan for short releases and post implementation assessment to stay on track

34. About Imaginea Pramati’s M&A’s of leading products Innovation enablement Serving over 200 product companies Agile methodology User-centric design Serving from 5 global locations Products built from conception-code-cash Unique products & services 1300+ engineers Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve.

36. LET’S STAY CONNECTED Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve. Srikanth Vijay M Senior Product Manager srikanth.v@imaginea.com Suresh Babu Chief Revenue Officer suresh.babu@imaginea.com

37. Disclaimer This document may contain forward-looking statements concerning products and strategies. These statements are based on management's current expectations and actual results may differ materially from those projected, as a result of certain risks, uncertainties and assumptions, including but not limited to: the growth of the markets addressed by our products and our customers' products, the demand for and market acceptance of our products; our ability to successfully compete in the markets in which we do business; our ability to successfully address the cost structure of our offerings; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; and our ability to realize financial and strategic benefits of past and future transactions. These forward-looking statements are made only as of the date indicated, and the company disclaims any obligation to update or revise the information contained in any forward-looking statements, whether as a result of new information, future events or otherwise. All Trademarks and other registered marks belong to their respective owners. Copyright © 2018, Imaginea Technologies, Inc. and/or its affiliates. All rights reserved. Credits Images under Creative Commons Zero license. Private and confidential. Copyright (C) 2018, Imaginea Technologies Inc. All rights reserve.