Digital Transformation in the Insurance Sector
-
Insurance
companies need to
innovate to survive: -
83%
See innovation as key to success
-
48%
Experience difficulties due
to more innovative
competitors -
74%
Lack skills
to drive innovation
-
HOT TRENDS
of digitalization
in the Insurance sector 2019-2020 -
New Models, Personalized
Products via sentiment analysis,
social media, 360° view of
customer, better digital
customer surveys, telematics
-
Advanced Analytics
& Proactiveness via Internet of
Things, mobile-enabled
InsurTech apps, wearables,
drones and imaging technology -
Mainstreaming Blockchain
secure data management.
identity management, fraud
management, smart contractors -
AI & Automation
for Faster Claims via RPA. Data
automation, behavioral
economics, virtual assistants -
InsurTech Partnerships with
software providers
Digital Transformation in the Insurance Sector
-
BI/DATA ANALYTICS
- Reports & Dashboards
- Data Warehouse
- BI Portal
- Customer Analytics
- Life / Non-Life Agents
Commissions
-
COLLABORATION
- Document
Management - Self Serve Portal
- e-Learning
- Document
-
WEB AND MOBILE SOLUTIONS
- Policy Sales
- Customer Portal
- Partner/Agent Portal
- Claims Resolution Portal
-
IOT (INTERNET OF THINGS)
- Connected Insurance
- Direct to Consumer
- Integration
- Automation
- Analytics
-
BIG DATA & BI
- For Life and Non-Life
Lines of Business - Policy Data
Management - Policy Lifecycle
administration
- Policy Underwriting
- Product Management
- Life Product
Development - Risk Assessment
Analysis
- For Life and Non-Life
-
SALES AND CRM
- Retail and Enterprise
- Direct Sales and
Partners
Digital Transformation in the Insurance Sector
For the Enterprise
Increasing revenue by at least 30% by reducing sales cycle completion, increasing policies sold, increase policy renewals and referrals, and reducing attrition rate through customer and agent satisfaction
For the Customer
A more compelling customer experience through self-serve portals/customer service, personalized recommendations of packages, reduction of time per claim and processing
- Key digital transformation steps
-
01.
Assess the current state of digital across your organization
-
02.
Define your digital transformation objectives
-
03.
Outline digital transformation roadmap
-
04.
Choose your technologies
-
05.
Establish
software
partnership -
06.
Empower
and educate
your staff
Embark on your Digital Experience journey and explore the benefits of our customized solutions, contact us.
30 Years of Evolving Insurance Solutions
-
1995
- Insurance goes online
- Workflow automation enterprise systems
- IT investments decrease costs
-
2000
- Extended customer offering
- Accessible customer support
- IT becomes main source of innovation
- Rise of digital insurers
-
2005
- IT enhances products
- New markets created with tech
- Process innovation becomes source of advantage
- Multichannel experiences
-
2010
- Adoption of IT systems increases productivity
- Data collection & storage allow personalization
- Focus on customer
-
2015
- Data analytics offer insights into customer behavior
- IoT enables targeted risk assessment
- Focus on DTC and self-service
-
2020
- COVID accelerates digital transformation
- Remote productivity and digital workforce vital for survival
-
2025
- IT key part of competitive advantage
- Automation & data mngmnt key to success
- Laggards will lose substantially in the market
Intetics has proudly supported insurance industry
leaders on their transformation journeys:
