The Future Of Underwriting
The insurance industry today is overwhelmed with a large amount of data from a myriad of sources and devices. 90% of the world’s data has been created in the last two years alone. Underwriters are put under great duress to gather and aggregate the right mix of data to conduct risk assessment, curate personalized customer experiences and issue policies within the same day. While some insurance carriers have incorporated some form […]
The Role of Cloud Computing in the Insurance Industry
Cloud Computing in the Insurance Industry The world of insurance has been fundamentally transformed by digital transformation. Digital has massively streamlined operations and simplified the dialogue between businesses and consumers, much as it has in other industries. It has also resulted in a market that is already flooded with new competitors, making the task of maintaining loyalty more […]
Shifting The Scales In the Property & Casualty Insurance Industry
Advanced insurance technologies for companies and insureds are now an important part of the property and casualty sector. Insurance quotes can be as simple as a tap, policies can normally be managed by a smartphone app, and physical insurance cards have largely been passed over. The rate of change in the P&C insurance industry drives digital insurance […]
A Step-By-Step Guide For Insurance Digital Transformation
The conversation on the digital transformation of the insurance industry has been one to spark debate for many years now. With a number of new entrants in the market, mainly insurtech startups driving the change, the impending digital transformation is no longer an option, but an imperative for all. In the US alone, the insurance industry is one of the most competitive and largest markets […]
A Glance at the Future of Claims
The insurance industry has been slow to react to the technological revolution and the need to integrate cutting-edge technology mainly because it has not significantly impacted their profitability. Ever-changing customer demands in a rapidly increasing technology-centric world means that enhanced service delivery capabilities are vital to creating an agile organization that can nimbly pivot in the face of continuous change and […]
Implementation of Digital Claims – Advantages and Outcomes
The most important aspect of an insurer’s capacity to protect its consumers and themselves is effective claim processing. Many carriers are using modern claims technologies and transitioning to digital claims management process to be competitive in this aspect of operations. Many have introduced digital or automated technologies in all aspects of the insurance sector as part […]