Enhancing Efficiency in Employee Benefits with RPA and AI
Mark Nixon, Chief Operating Officer at Hylant, emphasized the company's strategic shift towards enhancing efficiencies with robotic process automation (RPA) over solely focusing on artificial intelligence (AI). Nixon highlighted that RPA has significantly optimized Hylant’s employee benefits operations by automating labor-intensive reporting tasks. This automation allows staff to focus on delivering insights rather than just compiling reports.
"Many of our clients, especially larger self-funded employers, require monthly reports and data analysis," Nixon explained. RPA transforms these traditionally time-consuming and error-prone tasks into swift and reliable processes. This advancement not only improves the accuracy of reporting and billing but also reduces potential disruptions for members.
Hylant also utilizes RPA to streamline billing and enrollment operations. Following open enrollment periods, RPA aligns invoices with benefits enrollment data, rapidly identifying any discrepancies or oversights. What used to take hours is now achieved in a matter of minutes.
Exploring AI for Enhanced Efficiency
Beyond RPA, Hylant is exploring AI applications, particularly in document comparison and client support functions. AI tools are used to automatically detect discrepancies in annual insurance documents against previous versions or quotations. Additionally, AI integrated into the agency management system provides real-time responses to common inquiries concerning aspects such as the portability or convertibility of life insurance benefits, drastically cutting down research time.
Despite AI’s advantages, challenges remain in integrating technology providers that effectively cater to both employee benefits and property/casualty sectors while working seamlessly with their existing Epic agency management system. "AI companies tend to specialize either in benefits or property-casualty solutions," Nixon indicated. Identifying areas where clients and teams can attain maximum efficiency is the focus.
Balancing Innovation and Workflow
Nixon expressed caution about inadvertently creating a fragmented technology landscape. "We aim to avoid implementing numerous narrowly-focused AI applications that might offer limited utility," he commented. He affirmed that Hylant's leadership remains committed to technological innovation that also accounts for its impact on employee workflows. "Our CEO queries whether new initiatives improve or complicate employees’ work," Nixon remarked, acknowledging that while some technological implementations bring short-term challenges, they pave the way for long-term benefits, particularly in enhancing capability through integrated technology.