One of the oldest and most venerable names in insurance, Lloyd’s of London, has hired a new Chief Digital Officer with deep roots in automation. Louise Smith was Head of Intelligent Automation at RBS for eight years and will take that experience to the 331-year old Lloyd’s.
The insurance industry has been a prime consumer of robotic process automation technology for several years and, according to a report from Juniper Research, adoption of RPA by insurers only will accelerate. In the next four years, the U.K.-based consultancy said in Robotic Process Automation in Telecoms & Insurance: Vendor Positioning, Strategies & Forecasts 2019-2024, insurance companies will spend $634 million annually on RPA, up from $184 million in 2019.