Emerging technologies and robotic assemblies are paving the way for automation to become a meaningful part of life. Efficiency, safety, productivity and convenience are a few reasons behind the increased dependency on such technologies. From a financ…
Technology has already transformed the claims industry in many ways, and there is great promise for the enhancements future innovations will offer in terms of performance and outcomes. But technology alone cannot meet the needs of clients and consume…
The insurance industry is, of course, not immune to the tumultuous economic climate in which businesses are operating today. Carriers are feeling the adverse impact of the ongoing shocks on their brands, workforce and financial performance. During pe…
It’s hard to escape the buzz surrounding ChatGPT, an innovative artificial intelligence (AI) tool that uses natural language processing to respond conversationally to human prompts for information and task requests. The chatbot and its underlying gen…
Against the backdrop of a tight labor market and consumer expectations of instant gratification, many customers are eagerly looking for ways to bring greater efficiency to the claims process without sacrificing the end-user experience. Oftentimes, au…
Insurance carriers are continually looking for ways to process claims faster without sacrificing quality and to improve the claims experience for their valued policyholders. Many have turned to the burgeoning field of insurtech but have encountered c…
The COVID-19 pandemic compelled the insurance industry to move quickly and adopt digital, tech-based solutions that could be creatively applied to existing claims processes. While much of this tech – self-service forms, video chat, etc. – predated th…
The greatest strength behind robotic process automation (RPA) is its accessibility and usability. Unfortunately, these factors can also contribute to its failure in large, scalable implementations. RPA opens the door to technology without requiring a…
As we navigate reoccurring global events and uncertain times, insurance continues to play a critical role in risk transfer — providing assurance and allowing organizations to continue business as usual. Covers like business interruption (BI), c…
From manual forms and paper clips to the invention of the computer, the way claims are handled has certainly transformed. While it’s fair to say the evolution of technology in the insurance industry has not always been smooth, customer experience and…
Sometimes new technology comes along that does not directly replace old technology, but instead integrates with it and enhances it. The claims process is still filled with legacy applications held together with manual tasks, so tremendous opportunity…
In today’s marketplace, countless vendors and technologies claim to leverage artificial intelligence (AI) or automate manual claims processes. One could argue that starting with the very first computer, this is what everyone has been working towards.…
You know the feeling of being in a car, hurtling down the highway and catching glimpses of the things of interest passing you by? Sometimes that same feeling can hit you from a business technology perspective, too – like you’re looking out the window…