The latest technology trends and how they impact the insurance industry
A high wind just brought a tree down on a customer’s house. Meanwhile, another customer watches helplessly as his basement fills with water. For both of these insureds, the world has just spun out of control. And now, in the midst of this upheaval, each of them must also file an insurance claim. For many […]
The digital era is enabling new opportunities as well as challenges for underwriters. Today, there’s a requirement for massive quantities of information from different sources to evaluate risks, leaving underwriters with a significant amount of data to sift through so they can effectively rate the risks for a new customer and determine the coverages that […]
Most insurers are aligned around a common vision of the future, so strategy is about charting the course from here to there. Whether the focus is new business, claims, or filling the white space in between, the journey starts with an outside-in view of the personas being targeted (e.g., customer, agent, adjuster); the capabilities and […]
Cognitive computing and artificial intelligence (AI) present a new set of possibilities throughout insurance organizations, and can provide clear benefits within contact centers. Cognitive computing and AI capabilities are breathing new life into existing applications, creating new applications to provide deep insights and enabling insurers to drive transformation and innovation while achieving better business results. […]
Digital transformation is driving improvements within insurance companies, boosting productivity, improving the customer experience, creating efficiencies throughout organizations, and enabling actionable insights using analytics and big data. But as an industry, we’ve been focusing on the technologies, rather than on digital transformation’s effect on each company’s work culture. The digital transformation journey has an impact […]
It’s no secret that digital technologies have the potential to lead to significant changes and real benefits for insurance organizations. Carriers are using digital technologies to reduce manual intervention, improve quality, speed processing — and redeploy their workforce to handle more complex tasks, ultimately improving customer service and satisfaction. Insurers that started their digital transformations […]
The insurance industry consists of more than 7,000 companies that collect more than $1 trillion in premiums annually, providing fraudsters with huge opportunities to commit fraud using a growing number of schemes. Fraudsters are successful too often. According to FBI statistics, the total cost of non-health insurance fraud is estimated at more than $40 billion […]
by John Taylor It’s that time of year again. Right now, I’m looking at a year’s worth of processing stats for the London Market and considering what trends, if any, we can see. With so much talk about London losing market share, insurtech [insurance technology] disruption, innovative technologies and market relevance, can we inform the […]
From May 2018, Europe’s insurers will face strict new rules governing how client data is handled. As yet, no one quite knows what the real impact will be on how firms go to market; however, it’s pretty clear that the rules will raise the bar significantly in terms of governance and accountability. The General Data […]
Xchanging, a DXC Technology Company, has a long track record of service delivery in the insurance industry, transforming the paper-based operations of one of London’s oldest markets to a state of the art digital technology machine. As with most ITO and BPO providers and the administrative nature of these services, our diversity stats look very […]
