Understanding Long-Term Care Insurance

In an increasingly cost-competitive industry, digital technologies are providing today’s insurance carriers with new methods of distinguishing themselves from competitors. Of particular focus is the claims process. As insurance’s ‘moment of truth’, policy-holders’ experiences when making a claim can define whether they become satisfied and loyal customers for life or disgruntled, and unlikely to return. With the majority of insurance executives believing that customer experience will see the biggest impact from technologies like AI, machine learning and advanced analytics, it is no surprise, therefore, that claims should take a special focus.

Like the Loch Ness Monster from Scottish folklore, only a small portion of life insurance and annuity fraud is ever seen. But unlike the Loch Ness Monster, fraud in the life and annuities fraud is very real and is much larger than the industry is able to estimate. Where are these attacks coming from and what action must life and annuity carriers take to mitigate the problem?Attend this live one-hour webinar with Aite Group senior analyst Samantha Chow as she highlights some key findings from her recent report, Fraud In Life Insurance Technology is the Shield. The webinar will highlight key trends driving life insurance and annuity fraud, and identify how carriers are handling fraud.

Continuing to improve the quality in the settlement of claims is a major focus for insurers, the supply chain and supporting technology providers. Property claims are amongst the most complex claims instigating a more emotive customer experience. With many different parties involved, multi-tiered supply chains and a broad range of events to be covered, delivering quality requires collaboration as well as innovative and effective technology. Successful applications of new digital technology are starting to deliver dramatic improvements in property claims management. This Live Chat looks under the covers to explore examples of value being delivered to major insurers today in this space.

With today’s fast-growing competition and the demand for technology advancements, insurance providers are under more pressure than ever before to deliver service at speed and improve digital experience for customer at a reduced cost. It’s high time that insurers accelerate adoption of automation technologies like hyperautomation to augment their business processes and unlock long term business value.