Digital Transformation of the Insurance Industry : A Unique Trend To Watch Out For

It was evident from the onset of 2016 that the insurance industry is all set to undergo a drastic change in the coming years. The digital transformation of the insurance industry has been a laid back one, unlike other commercial ventures who have successfully scaled into digitization, providing seamless products or service requirements. Digital change of marketing […]

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Three Technology Trends That Will Drive The Insurance Industry in 2017

In 2017, ‘Digital Natives’ is the buzz word that will dominate most of the businesses, especially the Insurance industry.  This trend is not a new one, but has continued to influence our personal and professional life and all that just for the sake of making faster and better business decision, and easing out the daily atrocities […]

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Insurance Brand Loyalty to Peak in 2017: Thanks to Digital Transformation

Brand Loyalty is one thing that passes from generation to generation. Many of us still use the same things at home that our mom was and is using. And this same brand loyalty would later impact your kids buying choices. This pattern can be characterized as brand loyalty, and has remained the standard by which generations of […]

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Automation and Artificial Intelligence: Insurance Industry Observing a Paradigm Shift

Artificial Intelligence (AI) includes everything from machine learning to figuring out Internet of Things (IoT). Due to these technological advancements, AI frameworks are currently ready to perform tasks that required human knowledge, such as claims processing and claims management. From self-driving cars to robotized associates, Automation and AI is quickly advancing and discovering its way into our daily prerequisite, leading individuals to underestimate […]

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Insurance Analytics: Your Whistleblower for Insurance Fraud

As fraudsters get shrewder and exploit technology to their advantage, insurance agencies confront noteworthy challenges in anticipating and identifying fraudulence. Routine strategies for fraud detection regularly neglect to recognize these complex happenings that can cost insurance providers thousands and millions of dollars. To remain ahead of these problematic constituents and avoid insurance crimes, underwriters must […]

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Drive Operational Excellence in Managing Claims via Analytics

As an Insurance Organization dealing in resolving various claims related queries, providers keep on confronting a soft market and an uncertain monetary outlook. The cost of claims payouts is the biggest spending category for an insurer, representing up to 80 percent of premium incomes, and it here that revenue leakages start cropping up. Organizations that can carry out perfection […]

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Boost your Customer Retention Rate via Big Data and Analytics

The insurance marketplace today faces one of the biggest hurdles, which is to retain their customers. The present environment depicts a low trust confirmed in the insurance companies by their clients as trusting some of the policies has become a tough ask. However, with emergence of Big Data and Analytics insurers can very well churn out vital […]

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Building Unique Customer Profiles with Big Data

In the era of digitization, creating unique customer profiles of insurance buyers has become a necessity. With increasing number of fraudulent claims, insurance providers are finding it difficult to look out for patterns and customer behavior that may lead to resolving the claims management and processing related issues. In the recent years, the enormous increase […]

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Big Data Analytics Understanding the Importance Descriptive, Predictive and Prescriptive Analytics for Insurance Companies

Knowing what is going around you, what has happened or what is about happen is called smart management with a keen observation of information floating around. A similar trend today, is seen in insurance businesses, where with the use of Big Data and Claims Analytics, insurance organization and risk managers overlooking the claims are using Descriptive, Predictive and Prescriptive […]

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