Meet the evolving needs of today’s insured through modern technology and industry expertise.
TABLE OF CONTENTS
The goal for every type of insurer—property and casualty, life, health, and more— is to stay competitive and improve speed-to-market while meeting evolving customer needs. Our industry experts help incumbent insurers—agencies, brokers, and carriers—keep pace with the insurtech movement by harnessing new digital capabilities.
Insurers have access to substantial data, but few are able to operationalize it. With the expansion of AI and machine learning within the industry, insurers can break down these corporate data silos to integrate customer, policy, and claims data. With data-driven insurance, insurers can:
Better customer experience is the driver of competitive advantage in claims. The shift to the self-service model is fueled by customer expectations, as personalization and automation have fueled the customer digital journey.
Core business processes in insurance一from onboarding to claims to policy renewals一require customer data and signature collection. These new digital journeys can make it much easier to integrate new technologies and streamline the customer experience with:
Today’s customers are demanding faster underwriting processes, rejecting time-consuming and manual processes. Intelligent underwriting management can enable insurers to speed up the underwriting process, close applications faster, as well as a complete quote to issuance without a human touch.
With technology-driven underwriting systems, insurers can analyze data and update risk calculations immediately. This provides more accurate underwriting outcomes, as well as promotes healthier insured behaviors. With third-party data, insurers have access to information like:
Digital disruption, the insurtech movement, and operational inefficiencies have contributed to the insurance agent experience. Legacy technology in insurance is affecting agent enablement, even though customer expectations have shifted with the digital era. How can insurers enable an agent to quickly quote and meet policyholder needs?
Meeting evolving customer needs is always a priority—and policyholders should feel empowered to make informed decisions. Insurance agents can help make the experience of owning policies rewarding by providing education on self-service, promoting policy resources and maintenance, and walking customers through online claims’ processes.
Our insurance experts have the technical expertise to make agents’ lives easier while making business processes more efficient, including:
Reducing the time in which insurers settle claims can provide a competitive edge. However, insurers—both large and small—are challenged with strict compliance and government regulations. The use of effective claims management software speeds up the claims process, minimizes cost, reduces fraud, and enhances customer satisfaction.
One way insurers are tackling painful, manual processes is through Robotic Process Automation (RPA). At the forefront of data analytics, RPA automates tasks, analyzes data, and reduces errors. By combining APIs and user interface (UI), these tools complete autonomous execution of various activities and transactions related to claims management.
The insurance industry relies on on-premises, legacy systems to retain and win customers. However, these legacy core systems lack the openness needed for insurers to quickly, easily, and inexpensively connect with new data sources. Cloud-native development allows insurers to update applications more quickly, as well as:
Technology is helping insurers gain valuable insights into their customers’ needs, as well as providing a more innovative approach to delivering these products and services. We are here to support insurers with the tools and resources to create a more modern insurance experience.
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