Ephesoft
Ephesoft Smart Capture® can positively impact claim processing for the insurance industry, particularly in conjunction with an automation platform like an RPA system. According to the National Association for Insurance Commissioners, last year written insurance premiums in the US came to $1.15 trillion dollars. With nearly every person in America purchasing at least one insurance policy, competition for business is incredibly intense.
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RiskLogic
Recent catastrophic events coupled with local industrial losses has significantly changed the insurance industry. Insurers appetite to underwrite Food and Beverage and Manufacturing exposures in particular has reduced dramatically. This change has led to increased premiums and in some instances, businesses being classified as 'un-insurable'. Managing this change in appetite can often come down to how you differentiate your risk and resilience strategies, at renewal.
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To support the launch of the InsTech report, ‘From Admin Systems to Ecosystems: Enhancing services through partnerships’, Robin hosted a Live Chat to discuss the distribution, underwriting, claims and innovation benefits that are evolving from the ecosystem model and the role that admin systems can play in providing and enhancing them.
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Insurtechs have long been confident that a fresh perspective and superior technology give them an edge over incumbents. However, a severe shift in market sentiment has complicated things for technology-focused insurers.
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