How are Insurers transforming with AI?

whitePaper | May 25, 2022

As a heavily regulated, intensively bureaucratic sector – a business founded on caution – insurance has always been slow to adapt. But a confluence of historic challenges is forcing the industry to undergo arguably the most radical change in its history. Fundamentally, insurance is a hedge against risk. Over the coming years, it will become a proactive exercise in preventing risk, moving from protection to prevention.

whitePaper | October 25, 2022

A recent survey conducted by Post, in association with SS&C Blue Prism, explored the ways in which digital claims are being approached by the industry. Despite digitisation taking off in recent years, many claimants today are still using emails and telephone to contact their insurer at the initial point of a claim. Many claims specialists believe that customers are dropping out of a fully digital claims journey due to claims being too complicated or customers being less tech-savvy. So, how can insurers ensure digital claims journeys are streamlined and easy-to-use for the consumer?

whitePaper | December 10, 2022

As 2022 comes to a close, insurance companies are facing significant price losses across their portfolios, particularly within long-duration fixed income. On the horizon are the risks of a global recession, peaking fundamentals, persistent inflation and energy crises, particularly in Europe.

whitePaper | June 7, 2022

Can traditional L&A carriers—the old faithful faces of the insurance industry— really take on new market entrants and nimble InsurTechs to re-shape the face of group and worksite benefits? With the right tools and mindset, the answer is yes. Hailed as “the Great Resignation,” the workplace attrition crisis during the COVID-19 pandemic saw millions of workers across the globe re-imagine their working lives and leave their employers in search of something new. It would be natural to think of this trend as a negative, triggering a universal business-critical challenge. But dig deeper, and a significant opportunity emerges for employers to reassess the way they attract, retain and value their workforce—and for providers to reimagine the products, such as life and group insurance, that enable this. With no obvious end in sight for a trend hallmarked by frequent job changes and the enduring nature of the gig economy, group carriers would do well to think about how they will now adapt to the evolving employee benefits market. – for both active employees and those that are leaving or have left traditional employment.

whitePaper | November 12, 2019

A carrier’s quality assurance process is the backbone of its success. While not as well-known as underwriting or claims adjusting, QA is a vital part of insurance operations. QA auditors assess open, denied and paid claims to determine if avoidable errors occurred during processing, adjusting or settlement. Their reviews track performance against business standards and help improve internal operations and claim quality. QA gives employees vital information with teachable

whitePaper | October 27, 2022

A recent survey by Insurance Post found that 98.1% (see figure one) of respondents believe the current economic conditions in 2022 will impact organised and opportunistic fraud volumes.