Increase your responsiveness and drive policy holder and distributor loyalty.
Time and accuracy = money. Insurance companies are more and more focused on the technology and processes that enable a more responsive service, strengthening the loyalty of policy-holders and distributors and increasing the accuracy and efficiency needed for both risk assessment and fraud mitigation. Responsiveness is also critical for back and front office processes – which helps to drive an insurer's profitability and bottom line revenue.
Carriers / Insurance Companies
An insurance company's competitive edge has evolved from primarily insurance product differentiation now with equal focus in process efficiency in support of distribution channel and policyholder needs. Slow policy underwriting and slow claims payments risk satisfaction and loyalty, affecting bottom-line revenue. An increasing flow of unstructured and structured information from multiple channels actually offers a big opportunity. The key is understanding how to transform this data into useful business intelligence.
Insurance sales channels thrive on timely product, underwriting and customer information. Timely access to underwriting status of new applications directly supports sales pipeline tracking and increase your ability to maintain contact with prospective policy-holders. A distributor's ability to quickly and effectively capture and communicate customer information, the first time, helps underwriters accelerate new policy issuance, thereby new business revenue for distributors and insurers.