Although invisible to the end consumer to a great extent, the impacts of simplification can create long-term business benefits and also greatly impact the customer experience.
IIR Contributor Jim Rice suggests three key ways for insurers to harness increasing quantities of data in order to support the creation of actionable insights for the business.
The insurance industry is ripe for innovation and there is an abundance of technologies already available. We have a tremendous opportunity to use them in new ways to generate new value, create memorable customer experiences, and to help companies grow, gain new efficiencies and cut costs.
Insurance companies have an opportunity to further engage with their customers by improving their online communications and document sharing.
Optimal creativity, productivity and effectiveness as a leader requires allowing yourself to be human and knowing where to draw the line at every last suggestion of the heroics that supposedly characterize the most effective executives.
Carriers are concurrently looking at what needs to be done to preserve their traditional core group benefits business, while looking to grab share of voluntary benefits while at the same time contending with new competitors ranging from individual carriers to group health providers.
More winter weather looms and while owners and drivers are shoveling out, insurers have begun to weather the downpour of claims. The question is, are you ready and do you have the correct business strategy for these losses?
Google Auto Compare may make a big initial splash, but unless the company’s plans to enter the insurance market change significantly, there doesn’t appear to be any real danger for agents or carriers for the time being, argues Sean Allen of Xchanging.
Capgemini’s Jean Lassignardie recommends five key areas to address during 2015 toward becoming a truly digital insurer.
Modern enterprise suites today offer the same robust functionality once offered only by best-of-breed solutions, but with better integration, faster access to critical data, significantly easier upgrades, and ultimately, better results.