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Digital Insurance Playbook – How to avoid disillusionment in your automation journey

  • Oct 07, 2019

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– Modernizing core insurance systems alone often fails to deliver true straight-through processing.
– Inefficient operating models leave specialists managing core and non-core tasks in siloed units.
– Paper-intensive processes for claims, proposals, and payroll still require manual processing.
– Multiple communication channels create long, unstored conversations that complicate claims processing.

Digital Insurance Playbook – How to avoid disillusionment in your automation journey
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Many insurers today are embarking on a digital journey so they can deliver a more consistent and personalized service experience to their customers and partners. But sometimes, modernization of core insurance systems is not enough. Some of the most common reasons why insurers do not achieve the desired productivity gains and true straight-through-processing (STP) are:

  • Inefficient operating models: Specialists manually manage all core and non-core tasks in individual, siloed business units.
  • Processing Physical Documents: Paper intensive processes using different templates and versions such as Claims & Proposals, Payroll and Investigation Reports, all with hand written information that require processing.
  • Multiple Communication Channels: Long conversations over email, chat and telephone that are not stored in core systems or integrated into processing of claims.