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Owners should not look at the real outlay when calculating the expense of insurance policy administration tools. Even if it can seem to be a significant investment at first, owners must realize the long-term financial benefits that their syste
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A centralized workflow automation system that allows for the management of business rules and activity tracking can aid in the development of a standardized process across all channels.
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By looking at data and statistics to create innovation and disruption within the industry, we can uncover new ways to provide insurance to our customers that will save both time and money.
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A few recent examples of productivity improvement driven by ML algorithms are the use of Natural Language Processing (NLP) and Computer Vision (CV)
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Citytwig uses AI and machine learning to help people find the right insurance carriers and subsequent products. Citytwig is a platform that leverages Artificial Intelligence to build out personalized insurance coverage roadmaps for end-users based on their unique story. The platform helps carriers, agencies, agents and end-users identify specific product recommendations for consumers and businesses that would provide adequate coverage throughout their life-cycle. The uniqueness of Citytwig’s insurtech platform stems from the transparency it enables with all the data in one place and its ability to understand data and glean meaningful insights for increasing sales Read more ‣
By Leslie (Les) Hermitt Jr. Chief Digital Officer C&F Digital Partners business unit
The trend toward online self-service in all aspects of our daily lives has precipitated a major disruption in the insurance industry, first in personal lines and more recently in the commercial space. Read more ‣
A risk-based assessment process for third parties providing parts and materials for the supply chain is also critically important, beginning with knowledge of every item’s source
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