What Lies Beyond Digital for Insurance Operations- 1
BCG not the first and won't be the last to say that real transformation is much more than digital. Our own phrase "Beyond Code"...
Insurers are faced by many disruptive threats to their Claims Business:-
1) From innovative carriers already deploying digitally transformed claims and supply chains
2) From full-stack Insurtechs like Lemonade picking off niche markets
3) From Amazon, Zhong An, and evolving Ecosystems
Both customers and brokers demand Amazon quality self-serve engagement but are largely disappointed. Transformation is coming slowly and likely to be too little too late for many insurers. Ti be fair they are hindered by:-
* Inflexible, complex core systems that cost too much money and time to replace
* A plethora of insurtech innovators to select sexy new technology from
* Multiple product lines often in multiple geographies
* Long lead times to spec, plan, test and deploy digitally transformed claims
There is one answer that is proven having digitally transformed over 2 million claims, scalable with large global carriers having deployed it and delivering Amazon quality user experience and journey.
More than just a digital claims platform it is a full solution:-
* Communications Hub
* Orchestration of internal teams, brokers, outsourced services and the supply chain
* Data Hub
* Real-time Analytics & BI
* Decisioning Hub
The outcome?
1) Increased customer satisfaction
2) Improved Efficiency
3) Better Effectiveness
All without having to replace core systems, pay upfront costs, spend a year to deploy.
One customer went from discovery to deployment on 5 perils in six weeks. Existing customers have made urgent transformation of analogue claims processes in days. Auto, CAT claims, Home and Contents, Pets, Travel, Vehicle Recall- one platform for all perils and global reach.
Could be time to talk!
BCG not the first and won't be the last to say that real transformation is much more than digital. Our own phrase "Beyond Code"...
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