By using your customers and their expectations as a guiding point, you can avoid unnecessary expense and the postponement of financial benefit.
Collision Reporting Centers are an excellent solution to these needs—they provide personalized customer service and a human touch with the power of technology making the auto accident reporting process as non-intrusive as possible into our busy lives.
In order to stay competitive, insurers need to investigate the benefits and embrace the possibilities created by the explosion of Big Data from various sources and the affordability of processing power.
Though state rules can be convoluted, you can save on paying initial appointment and appointment renewal fees once you learn them.
If the quality of service is to change, staff performance should not be measured in terms of resource optimization but in terms of flow optimization: How quick and efficient is the process from the customer’s perspective?
The insurance industry needs to pivot from risk aversion to experimentation, and that requires not just prudent management but genuine business leadership.
Over the long term, it’s more often than not that the non-functional capabilities of a system that determine its value and lifespan, and whether or not the company views it as a success, or just another sub-optimal delivery from IT.
Simply building models will not enable effective use of predictive analytics. This four-step process will help position insurers for leadership and longevity.
Some insurers may not be quite ready to flip the switch on blockchain, but given the potential benefits, that is likely to change before long.
InsurTech startups are leveraging the latest advances in machine learning, new big data sets, and IoT sensor data to drive fundamental changes to the insurance value chain and to change what insurers need from core processes and systems.