Digital Transformation Blogs - Bigdata, IoT, M2M, Mobility, Cloud

Insurance

Cloud Platform

Generative AI in Insurance and Migration to Cloud Platform

Insurers globally are acknowledging the significance of updating their technological infrastructure. According to a survey by Gartner, Inc., with evolving organizational dynamics and rapid technology change, 87% of marketers are concerned about technological enhancements, including GenAI, which might lead to the replacement of jobs in the industry. On the contrary, GenAI can be leveraged to […]
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Next-Gen Technologies

A Revolutionary Approach: Exploring Usage-Based Insurance with Next-Gen Technologies

In the ever-evolving landscape of auto insurance, traditional models often rely on generalized factors that may not accurately reflect an individual’s driving behavior. However, a paradigm shift is underway with the advent of Usage-Based Insurance (UBI). This innovative approach harnesses real-time data on driving habits to tailor insurance coverage, offering a more personalized and equitable […]
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Insurance Technology Trends

Insurance Technology Trends

Technology has shifted the path of almost every industry at an unprecedented pace and the insurance sector is no exception. As we approach 2024, insurers are taking advantage of innovative technologies to meet the evolving expectations of customers and simplify operations. The increased demand for insurance tech solutions is a result of several factors. The […]
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Insurance

Transforming the Insurance Premium Audit Landscape with Emerging Technologies

An essential step in the insurance process is the premium audit which confirms that the insured has paid the appropriate premium based on their real exposure to risk during the policy duration. The insurance company or a third-party auditor performs the audit, normally done at the conclusion of the policy period. To verify the correctness […]
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Insurance Claims Management

Straight-Through Processing in a Modern Insurance Claims Management

Insurance claims are a critical part of the customer experience, in fact, the time taken for an insurance company to satisfactorily settle a claim is viewed as the number one measure of customer satisfaction. After paying premiums for years together, claims are the first and only direct interaction between the client and the insurance provider. […]
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Embedded Insurance

Renewed Interest in Embedded Insurance

What exactly is Embedded Insurance?  Insurance has been one industry where the traditional sales channel contributes to the majority of the revenue. Postpandemic, there has been a noticeable change in customer behavior and preference along with increased competition.  This has paved the way for the growth of newer channels for policy sales. One of the […]
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Predictive can be Addictive

We all dwell upon the past, try to live in the present and worry about the future. Well what if technology can look into your past and present and predict the future and enable you to just live. Predictive Analytics can do just that and more and can make a significant difference to your business. […]
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Proactive Customer Care

Next Gen Customer Experience Management: Proactive Customer Care

The transition from traditional Customer Relationship Management (CRM) to Customer Experience Management is underway, and we are in the middle of it. To attract and retain customers, enterprises today not only need to manage their customers’ experience, but also do so in a proactive manner. To put this in another way: while it is essential […]
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Case Management in Insurance

Case management as a field is getting more and more eyeballs ever since people realized the kind of efficiency gains it can provide in the unstructured space. One of the biggest success stories for case management has been in the field of healthcare, a field where hitherto information technology hasn’t made enough impact. The fact […]
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