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Process Improvement

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Process Improvement
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4
  min read

From Chat-Bot to Chat-Hot: How Generative AI Has Evolved

Does the thought of dealing with a chatbot fill you with dread? You’re not alone. Although chatbots are a cost-effective way to provide 24/7 insurance services, early versions often proved to be frustrating for customers. Fortunately, Generative AI has paved the way for a new type of chatbot. Here’s how chatbot technology is heating up and why every insurer should be incorporating this technology.

Process Improvement
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3
  min read

How AI Can Help Insurers Reduce Claims Cycle Times

In claims, longer is never better. A lengthier time to close inevitably results in escalated emotions, more loss complexity, decreased policyholder satisfaction and an increased chance of litigation. By automating the FNOL and other claims processes, AI can help insurers reduce claims cycle times, lowering costs and deliver superior claims journeys.

Process Improvement
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4
  min read

Insurance Data You Can Trust: Lineage for Growth

Just as you wouldn’t build a mansion on quicksand, you shouldn’t build your insurance strategy on questionable data. Whether it’s AI, machine learning or underwriting and pricing decisions, the success or failure of every aspect of your company’s digital transformation may hinge on the reliability of your company’s data.

Process Improvement
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5
  min read

5 Ways Generative AI Can Boost CAT Claims Readiness and Response

Wildfires. Hurricanes. Tornadoes. CAT season is coming, and this year may be particularly tough on insurers. Don’t be caught unprepared. Generative AI can help you keep up with the coming claims demand.

Process Improvement
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4
  min read

Why Rip-and-Replace Strategies Create a Red Queen Effect

If you want to get ahead of your competition, you may think you need to run twice as fast. A better option is to adopt strategies that are twice as smart. Technology is progressing at breakneck speed, and if you’re still using rip-and-replace strategies to update your core system, you’re falling into the trap of the Red Queen effect. To gain a competitive advantage, your insurance company needs a different strategy.

Process Improvement
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4
  min read

Mitigating Water Loss Claims with Digital FNOL + Smart Triage

A little water can cause a lot of damage. To mitigate water loss claims, a fast response is critical. Unfortunately, traditional first notice of loss (FNOL) processes can lead to wasted time, and that leads to higher costs and poorer customer experiences. A digital FNOL that also triages time sensitive claims can reduce the time, damage, and costs associated with water loss claims.

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