Are you embracing the digital evolution? Insurance companies are transforming to meet the current expectations for customer experience
Insurance in a Digital World
The Insurance Industry is accelerating their digital transformation. There are 3 key trends supporting the current transformation initiatives:
Balance the Digital Experience: Insurance companies are balancing the demands of a higher level of touch of the older insured with the newest generation’s demand of a 100% mobile digital experience
Know your customer through Third Party Data: The use of external data to build a customer profile has dramatically increased to the point where a prospect can enter their phone number and receive a viable auto quote
Enable AI and Hyper Personalization: Using complex AI models to sort sales leads into customers with highest purchase propensity to personalizing the sales experience with ideal recommendations to claims management recommendations AI is making a big impact on insurance operations
Customer 360, Customer Retention, Frictionless Experience
Employee Efficiency, Employee Engagement, Automated Processes
Regulatory Compliance, Fraud Detection, Speed of Underwriting, Automation
Insurance companies have 2 choices – shrink or change. Changing means the implementation of intelligent, flexible processes and systems to reduce human touch points end-to-end.
Key considerations for the digital roadmap to achieve this are:
- Enhanced mobile capability to improve customer experience and meet consumer expectations for omnichannel interactions
- Interconnected systems that provide a full view of the customer allowing for better engagement and better fraud analytics
- Modernization of legacy systems and architectures to support measurable business outcomes
- Compressed time to analytics by using current tools and approaches to facilitate efficient data curation
- Robotics, Automation, Machine learning, and Artificial Intelligence
Lay the Foundation for Stellar Customer Experience
Companies are facing an increasingly difficult financial environment. Customers demand more and more accurate pricing with personalized offerings, placing a spotlight on the back office costs. Accelerating challenges in the marketplace has evolved into accelerated solutions that are essential in the toolkit of the companies that plan to lead. Learn more about these tools and how to leverage them in order to exceed your customer’s expectations, keep your mainframe maintenance costs from going up, balance increasing workload and customer demands, and improve access across the organization and reduce costs.Learn How
Create Digital Experiences to Delight Customers and Employees
The shifts we’ve recently seen in consumer behavior, employee expectations, and communication are not fleeting. Looking to the future, it will be up to businesses to meet their customers, workforce, and partners where they already are. Or better yet, learn to predict and adapt quickly to their ever-changing needs before they even know they need them. How will the experience of your customers and employees shape your organization’s digital future? How will you create an experience that stands out amongst the rest?Learn How
Strategic Context: A Life Hack for Your Business
Every year businesses spend time and money automating and simplifying their processes without considering the overall strategic direction of the company. Ultimately, this lack of “strategic awareness” is counter-productive and keeps your business from achieving its long-term strategic goals. Our latest eBook formulates how businesses can quickly realign themselves by using a ‘life hack’ approach to strategic direction. Learn how to address strategy implementation challenges, evaluate basic decisions in the context of the strategy or goal, and inject strategy & goals directly into current processes.Review the Infographic
Delivering the digital experience requires a data-enabled technical architecture.
Mainframe to Cloud: Budget friendly and timeline considerate migrations of the mainframe capabilities to cloud technologies
Improved integration: Use of data highways, cloud-based data storage and integration technology to access and process data creating the 360 customer view
New System Replacement: Update legacy systems with modern cloud-based architecture using APIs for an interactive experience
We work with our clients as a strategic partner and trusted advisor for navigating the challenges of building custom solutions and as a solution integrator of industry-leading commercial, off-the-shelf products (COTS).
We have a rich history helping Insurers and InsurTech organizations in the global 1000 marketplace to realize their digital ambitions. In recognition, we are honored to be listed as an Established IT Service Provider for Insurers in the 2021 Novarica Market Navigator report.
Achieving a competitive digital transformation for insurance requires more than standardized data; it requires analytic tools to better understand customer context and relationships.