Customers are looking for simple, straightforward processing of small commercial applications. Automated underwriting can help insurers get ahead in the “Race to Zero”— the point where applicants have no further questions to answer when they come to you for coverage except their business name and address. For effective automated underwriting, insurers must master the intersection of data, analytics, workflow, and technology.
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Majesco
Insurance as we have known it for the past few decades is facing permanent changes: Digital companies like Amazon, Uber, Netflix, Apple and others are resetting the bar for customer engagement. New digitally-driven customer behaviors and expectations are creating new risks. And platform-based business models and digital technology are shifting and blurring traditional industry boundaries. The convergence of these changes is driving a rapid shift in the industry from Insurance 1.0 to Digital Insurance 2.0.
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Workers’ compensation claims costs continue to rise, and complexities involving changing compliance regulations, new court decisions, and increasing fraud risk make managing these claims more challenging. But analytics and automation are helping solve these challenges by providing key insights early in the claim process to help improve decision-making.
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gotowebinar
To win the customer’s heart, insurers cannot afford to lag behind on customer-focused innovation. Throughout the claims journey they must deliver interactive, personalised experiences. Whilst there are many barriers to implementing AI and analytics, it is essential for winning and retaining customers in the future. Let's find out how.
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