Digital transformation is changing the insurance industry and ensuring a high level of accuracy and efficiency in claims management is more important than ever
Traditional insurers are heavily reliant on manual work, and outdated methods and legacy systems. In a recent survey of UK financial services companies, 80% of respondents found that their systems were not fully integrated and they had an average of nine different content management systems in place.
While the use of AI and automation offers significant value to insurers, implementing AI is not without challenges, driven largely by scarce AI expertise and limited insights from generic AI services. Despite these obstacles, forward-looking insurers are finding that business-aware AI services, combined with low-code tooling, can enrich your content to support increased automation and faster processing with fewer manual tasks and increased accuracy.
In this upcoming live webinar, brought to you by Insurance Post in association with Nuxeo, an expert panel will discuss how AI can improve both accuracy and efficiency during the claims process and have a positive impact on customer experience.
Among the questions we will seek to answer are:
- How is intelligent process automation technology enabling smarter claims processing and fraud detection?
- What benefits do increased accuracy and efficiency through automation bring to the business as a whole?
- How can automating claims improve customer experience?
- What are the benefits of generic AI and personalised AI to customers?
- How can low-code tooling for AI services enable organisations to reduce their reliance upon AI experts and data scientists?
- How can new, business-aware capabilities in AI and machine learning increase agility?
Continuing professional development: how are insurance companies developing career paths for a pipeline of future talent whilst developing employees remotely
The recent experience of Covid-19 has proved to be challenging for the insurance sector in terms of maintaining a business-as-usual approach to managing clients; but it has also tested the resilience of these employers when it comes to recruitment and helping employees develop and prosper, especially with a reduction of in person training and mentoring.
This webinar, brought to you by Insurance Post in association with Davies, seeks to understand how insurance businesses are adapting the personal development of their employees during a time of remote working; and what the implications are for future employee development strategies.
Among the questions we will seek to answer are:
- How have insurance businesses utilized digital and teleconferencing channels to recruit and train employees since March 2020?
- How have insurance businesses looked to replace and replicate in person mentoring with many employees working remotely?
- How can employers maximise their teams’ learning & professional development remotely?
- How are businesses working around learning and development initiatives that are difficult to replicate online?
- How do you encourage colleagues to continue to seek professional development without in person daily access to their managers?
- Have training budgets been squeezed by the pandemic; and are insurance businesses looking more to Government backed employment support schemes likes Apprenticeships to recruit and develop employees?
- What are the pros and cons of these support schemes?
- How important are insurance businesses recruitment and skills development strategies to improving their own diversity and inclusion?
- What are the biggest training and skills progression lessons that have been learned during Covid-19 - and how will these shape the way insurance employees are educated and developed in the future?
LV, Zurich, Hiscox and Davies Group discussed how automation-driven claims could become a greater USP in the battle for consumer hearts, minds and wallets
It has never been more important for insurers to fine tune and promote the claims journey as a unique selling point. So how can intelligent automation be a fantastic tool in building trust in an insurance brand?
Co-op Insurance, National Body Repair Association, The AA and Ageas discussed how insurers can build a more sustainable approach to motor claims
The issue of using reclaimed parts has been ongoing among motor insurers, manufacturers and salvage companies for years. While there has been little traction to use them as an alternative to traditional new parts, things could be set to change
Aviva, Canopius and Tesco Underwriting discussed whether social distancing has killed off traditional insurance contact centres
What does the future hold for traditional insurance contact centres?
Aon and Direct Line Group discussed how insurance firms can seize the initiative on privacy, cyber risk and operational resilience
What operational challenges have insurance companies faced and how can they ensure optimal cyber resilience for future disruptions?
There has been a lot of talk about how the March lockdown has acted as a trigger for insurance businesses to review processes throughout their organisation from the perspective of a ‘new normal’ – where customers and employees alike are living and…
Apollo Syndicate Management, Hyperion X and Ulysse Re discussed how the Lloyd’s/London markets responded to Covid-19 and the lasting impact on EC3
What is the current status of the Lloyd's modernisation programme, how did syndicates respond to Covid-19 and what will the lasting impact will be on EC3?
Aviva, RSA and Zurich discussed how insurers can control motor claims costs through automation technology
Motor claims costs are under the spotlight as many insurers are likely to be under pressure to control operational costs.
Aviva, RSA, Munich Re and Zurich discussed using data enrichment to speed up valid claims and flag up potential exaggeration or inflation
Controlling claims costs and satisfying legitimate claimants do not have to be mutually exclusive of one another.
Axa, Home & Legacy and Swiss Re discussed how close the insurance sector is to a reality of end-to-end digital claims management
It might have taken longer to impact the back end than the front, but digitalisation is starting to play a larger role in how insurers handle claims.
Axa, Bought By Many and WPA discussed why new technology alone will not save insurers but changing mind-sets to seize digital opportunities will
There has been a lot of discussion within the insurance community about using various new technologies to seize digital opportunities, but is simply investing in new technologies alone enough to ensure success?
Munich Re, Allianz and Zurich discussed the management of unstructured data in claims during Post webinar
Insurance companies are dealing with increasing volumes of digital media associated with claims initiation and claims investigation processes.
Personal lines customers are a promiscuous bunch, known for changing insurers for a few pounds.
The best minds in motor insurance are already grappling with how to manage the new risks that come from evolving automotive technologies – from connected and electrified vehicles to full-blown autonomous motoring.
Given the hype around digital you might be excused for thinking that you need to re-platform everything, rip out what you currently have - and start again - to remain relevant in the modern insurance market.