According to FinTech marketers, the “robots” are coming. Robo-Advisors will help clients optimize their investments, and Robotic Automation will remove cost from cumbersome back-end processes.
But we’re not talking about C-3PO working in a call center. Robo-Advisors means improved analytics, better customer self-service, and automated rebalancing of portfolios to align with pre-set customer goals or company-determined algorithms. Robotic Automation means using screen scraping, rules engines, machine learning, and scripting to integrate poorly automated processes without re-engineering client-based software.
All of which is fine, but using the term “robots” to describe it just makes it harder for customers and executives to understand what’s really going on.
Notably, the biggest “Robo-Advisor” firms don’t use that term in their marketing. They know it doesn’t have anything to do with customer benefits, it just describes their delivery methodology. Services firms that offer Robotic Automation should follow their lead. Like the insurers they serve, services providers need to change their mindset and think Outside-In.
This blog entry has been republished with permission from Novarica.
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The opinions posted in this blog do not necessarily reflect those of Insurance Networking News or SourceMedia.
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