Certificates of insurance are a vital and often urgent deliverable for insurance customers. But for insurance agencies, they can be a stressful interruption and a potential source of errors and omissions (E&O) risk.
Sathya Sethuraman is the Director of Global Insurance Practice at UiPath, a leading robotic process automation vendor. We sat down with him to take a closer look at the trends and changes that will impact the industry in the years ahead.
Policy Insights 2.0 is a tech-enabled solution that optimizes and analyzes the policy checking process, empowering account managers to carry out review and coordination 50% faster. Apply that saved time to revenue generating work and an agency can achieve as much as $45,000 in additional revenue per 1000 policies.
As the insurance industry enters a post-pandemic, digital-first era, property and casualty carriers that fail to adopt an effective digital engagement program, especially one that integrates proactive communication, risk falling behind.
Today, customer expectations have overwhelmingly shifted to digital. The number of people who want all communications via paper or voice is rapidly dwindling, as the majority of the population uses messaging platforms and social media every day and are adept at all manner of mobile and online interactions.
There are as many paths to digital transformation as there are insurers. Each is unique based on the product mix, distribution strategy, culture, and state of the company’s systems and data. However, Strategy Meets Action (SMA) has developed a framework for assessing digital capabilities that insurers are using successfully.
Despite the name, Robotic Process Automation doesn’t involve the kind of robots you’d think. Get the rundown on attended and unattended RPA.
As the number of seasoned producers nearing retirement rises, agencies must focus on creating a more robust producer development model, one with a curriculum that will challenge participants and help them be successful in today’s complex insurance marketplace.
As carriers and other insurance organizations continue to accelerate their digital transformation efforts in 2021 and 2022, let’s take a moment to break down a few key technologies currently impacting the industry today and some that are likely to do so in the future.
Last fall, we spoke with insurance and productivity experts to hear their thoughts on what productivity means to them, what prevents insurance organizations from being productive, and their favorite tech solution for improving productivity.
As cyber risk increases, and insurance organizations depend more and more on cloud services and third parties, effective third-party risk management is more critical than ever to protecting your business’ value proposition and customer relationships.