White Papers and Research
Weather plays an important role in shaping consumer and commercial decisions to protect their assets and for insurers looking to provide tailored solutions to consumer needs. Major events, including hurricanes, floods and snowstorms, radically impact both individuals and businesses. And localized incidents, such as hailstorms, tornadoes and lightning, pose immediate threats to life, property and other assets.
Until now, most businesses have treated weather as an event outside their control, something inherently unpredictable to which they can only react.
Read this white paper to learn how leading companies take a different approach: they combine weather information with other data sources to anticipate future events and incorporate insights into daily operations.
Cyberattacks are a clear and present threat to government agencies. The Center for Strategic and International Studies (CSIS) estimated the annual global cost of cybercrime is upwards of $445 billion in a 2014 study. The report further states the average cyberattack continues undetected for several months. Full and detailed data analysis is one of the only emerging ways to get ahead of these threats. According to industry experts, cyber threat analysis currently relies on automated as well as human input.
As insurers continue to transform the enterprise, optimize business agility, increase customer engagement, and remain compliant in an ever-increasing regulatory environment, they require new solutions to improve key insurance processes.
Download this infographic to learn more about a solution that helps insurance organizations orchestrate people, business content, and analytics to achieve improved claims processing, streamlined underwriting, and enhanced customer experience.
Modern Insurance Case Management: Powerful Capabilities, Familiar Tool explores insurance operations' complexity and how modern case management solutions can consolidate key data and information and improve carriers’ operational outcomes.
Key takeaways from the study include the following:
- Organizing insurance data and information so that they can be managed as cases supports carriers as they ramp up to new technology.
- Modern tool sets empower younger incoming staff and professionals to quickly provide value in service functions while improving their retention.
- Improved customer experience is an especially powerful value-added outcome from modern case management solutions.
- State-of-the-art case solutions integrate technology tools, such as electronic content management, text recognition and understanding, and process decisioning, to move insurers beyond simple manual process automation.
- Consolidating disparate types of fraud information supports faster resolutions and helps to refine prevention and detection models.
This new white paper explores the changes coming in the nature of work, driven by digitalization, shifting economic relationships, and the empowerment of the individual. In this paper, David Smith, makes a compelling case for the rise of the freelance economy and the implications of that business model on the Life, Accident and Health Benefits market. Thoughtful dialogue is critically important in today’s political atmosphere of extreme polarization, where many immediately assume the only answers are total socialization of benefits or a pure laissez faire marketplace. David proposes a few different models that can support a more flexible work model, provide choice for the individual, and still support both government benefits options and a commercial benefits market.
The Affordable Care Act provides for every American to have health insurance and gives states a say in whether they establish an exchange or participate in the federal exchange. This individual mandate creates an opportunity for disruptive innovation in all areas of the healthcare payer’s business including pricing and rating. To succeed, payers need to learn to interface directly with end users, and they need an IT infrastructure that’s flexible enough to accommodate new customers and roll out new products quickly.
The expansion of health care regulatory compliance and heightened attention being given to health care products means new responsibilities are being handled by the compliance departments of companies. Unfortunately for most insurers, the process of product development and state filing remains manual, paper-based and time consuming. Often, more time is spent managing the process than is spent on getting the product out the door. This white paper discusses the challenges compliance executives are facing and looks deeper into using technology to address payers’ needs resulting from the impact of new legislation.
Enterprise document automation is an approach that can help insurance companies get control of their content – automating slow, manual processes and creating faster, cheaper, more consistent communications. Download Building an Agile Communications Strategy to learn the four steps to creating an enterprise-wide document automation strategy – helping you improve the customer relationship and save money.
The upsides of creating a single view of the customer are relatively well understood in the insurance industry. Benefits include; effective relationship management, the enablement of cross-selling and up-selling, better customer service and retention, operational efficiency when working across multiple departments, products and channels etc. But while the value is clear, creating a more customer-centric business environment has historically been hard to achieve against the backdrop of fragmented systems, processes and data. This paper, from independent IT analyst firm Freeform Dynamics, examines how technology and market trends, together with changes in the regulatory landscape, are elevating the status of customer-centricity from 'aspirational ideal' to 'business critical imperative'.
The insurance ecosystem, rocked by disruptive technological and competitive forces, has changed forever. Insurers seeking to navigate this changed landscape are taking a lead from the customer in order to equip their businesses for survival in the digital age. To succeed insurers must understand their customers as never before, not just as a series of policies and risks but as individuals, with interests, preferences and emotions. This will not be easy: companies have evolved systems and processes that hinder this complete and detailed picture of the customer. Finding a way to unpick, clean up and rebuild the treasury of data hidden in a web of legacy systems and departmental silos is the first step in the customer-centric data challenge. This report from VisionWare and Marketforce surveys 265 senior executives from a range of insurance firms to understand how they are rising to the data challenge in the pursuit of customer-centric differentiation.
Insurers across the globe are focusing in on how to ensure they can leverage their customer data assets in the pursuit of competitive differentiation. Whilst Master Data Management technology is a critical enabler in the journey towards customer-centricity, it is important that you scope your initiative effectively to drive transformational business outcomes. To assist you in the challenge of creating business advantage we have created this handy buyers guide to ensure you know everything you need to know about mastering your customer data.
The insurance industry is going through a significant period of change with tightening regulation, market consolidation through M&A activity and the advancement of the digital agenda all driving a sharp focus on customer -centricity as a route to competitive advantage. In this new whitepaper, entitled 'Going Beyond the Regulatory Stick', Nicola Askham shares her view on how to evangelise data improvement initiatives. Whether you sit in the business or IT, this whitepaper will provide guidance on how to inspire and engage key stakeholders to embrace the business benefits available from treating your data as a strategic asset - driving value far beyond merely meeting regulatory compliance measures.
This Advisory Note focuses in on the transformational role that Master Data Management (MDM) can play in accelerating the value of M&A activity. By reading this paper you will understand how your business can reap the benefits of a single and trusted view of the customer to make better decisions around valuing a potential acquisition target all the way through to dealing with the complexity of post-merger integration. Whether you are in the process of acquiring a business or are dealing with the challenge of integrating historic acquisitions, this paper will help you ensure you can leverage the expected benefits of the transaction faster as a result of richer customer insight.