Automatically add and sync subtitles? (Premiere Pro 14.9 and earlier)

Manually adding subtitles seems like a lot of work. Especially getting the timing correct and everything in the proper place. Is there any part of PP that will do some of the work for me?

For example, can I simply type out all the dialogue in a .txt file or some other external word processing program, and then import the file and have PP try to match it up with the audio by detecting the words being spoken? Basically have PP put the text in the correct places in the video based on detecting the audio?

I'm not sure if that makes sense.