Insurance companies typically interact with customers when they are at a low point in their lives. Carriers will benefit by making those client engagements as seamless and positive as possible.
In addition to delivering winning customer experiences, insurance companies also have significant risks to manage. Combining environmental data with population information and geopolitical data to manage risk is a complex process.
However, managing risk shouldn’t come at the expense of innovation. Offering new, more comprehensive products and services is the only way to comp
Challenges Facing Insurance
No Time Like the Present
Natural disasters in 2020 were approximately two and a half times more prevalent than in previous years. The hundreds of billions of dollars paid out came out of the pockets of insurance companies. To add to the chaos, several agile digital upstarts entered the market—leaving large, more traditional insurers scrambling to keep up.
Furthermore, COVID-19 has been an added impetus to boost innovation since it has resulted in a significant uptick in pandemic-related claims. The COVID-19 era has also been a time of rapid growth for digital-only insurance companies. To keep pace, carriers must bring greater value to their customers.
Benefits of Going Digital in Insurance
Accelerate Time to Market with Adlib
In the face of unstructured data, digital transformation feels like a mirage in the desert, a place that’s always out of reach. With the right Content Intelligence solution, enterprises can reach greater ROI on their digital transformation investments faster. By addressing the unstructured data dilemma, Content Intelligence brings agility to every person, every process, and every facet of data and document management—so you can soar above the “fast caterpillars” and become a truly digital enterprise.