Perficient Digital Transformation

NOVEMBER 1, 2023

Intelligent automation and generative AI can unlock tremendous value for financial services leaders who want to optimize experiences and reduce costs. Perficient was honored to participate in the inaugural Banking, Financial Services, and Insurance (BFSI) event hosted by Kofax.

Insurance 59

Insurance Banking Robotics Process Automation Service 59

Perficient Digital Transformation

JULY 19, 2023

One such industry that will be forced to utilize AI solutions to gain a competitive advantage is the regional insurance carrier industry. By harnessing the power of AI, regional insurance carriers can streamline their operations, enhance customer experience, and make more informed decisions.

Insurance 52

Insurance Automation Streamline Operations Reduced Costs 52

Microsourcing

DECEMBER 23, 2021

The insurance industry’s claims handling processes are quite resource intensive and claims can take a long time to process, from initiation to a decision being made. months for a life insurance claim to be accepted , 1.6 months for a trauma insurance claim and 1.5 months for a life insurance claim to be accepted , 1.6

Insurance 52

Insurance MicroSourcing Outsourcing Reduced Costs 52

Magellan Solutions

NOVEMBER 7, 2022

Insurance Back Office Support Tasks for 2023. Why do people get insurance back office support? Staff and insurance firms can find it hard to keep clients happy. Insurance companies use various ways to improve their business processes. Insurance companies need back office support for a lot of reasons. IT SUPPORT.

Insurance 75

Insurance Outsourcing Out-Tasking Offshoring 75

Everest Group

JUNE 7, 2023

Readily available capital and low-interest rates made the past few years ideal for the insurance brokerage industry to consolidate in response to increased competition, changing customer expectations, and other challenges. The insurance brokerage industry went through an inflection point last year.

Insurance 52

Insurance Shared Services Analytics Marketing 52

IBM Business Partners

JUNE 23, 2023

Although interest rates have increased at an unprecedented rate over the past year due to efforts by central banks to curb inflation, insurers are locked into low-yielding investments, and it will take several years for their investment yields to improve. Core modernization (processes and technology) is a top priority for every insurer.

Insurance 57

Insurance Administrative Right-Sizing Automation 57

Magellan Solutions

FEBRUARY 20, 2021

Who Needs Insurance Outsourcing? Especially those that want to reduce costs and remove tedious repetitive tasks. As a matter of fact, insurance BPO projection within the period of 2020-2027 is at $8.3 As a matter of fact, insurance BPO projection within the period of 2020-2027 is at $8.3 Insurance Specialists.

Insurance 52

Insurance Outsourcing BPO Data Entry 52

Everest Group

MARCH 17, 2023

Managing General Agents (MGAs) and wholesalers are becoming increasingly relevant in the insurance ecosystem due to the unique advantages they have over brokers/agents. Technology and business process services (BPS) providers can help MGSs reduce costs and increase their digitization and automation intensity.

Insurance 52

Insurance Robotics Process Automation Risk Management Risk Management 52

Metasource

NOVEMBER 30, 2021

Insurance companies manage daunting amounts of paper mail daily, such as claims, checks, grievances and appeals (G&A) , and enrollment forms. With an outsourced digital mailroom, your employees will gain the following benefits: Reduce costs on filing and storage. Experience You Can Trust for Insurance Digital Mailrooms.

Insurance 52

Insurance Outsourcing Reduced Costs Customer Service 52

3Pillar Global

MAY 3, 2024

They collectively insure ~130 million Americans, including nearly half of the employer market. I’ve also conducted numerous interviews with self-insured employers and the brokers they partner with. New technology is often a primary driver of disruption in health insurance, accelerating both product and business model innovation.

Insurance 104

Insurance Healthcare Co-Sourcing Administrative 104

Everest Group

MARCH 13, 2024

With more than 70 million individuals in the US engaged part or full-time in the gig economy, the notable lack of workplace benefits and life insurance coverage for these flex workers has sparked widespread debate. Options may include health insurance, retirement plans, disability coverage, and more.

Insurance 59

Insurance Administrative Flexibility Reduced Costs 59

Everest Group

MARCH 23, 2023

Capital Markets Operations – Services PEAK Matrix® Assessment The capital markets operations landscape is rapidly evolving as enterprises strive to meet the demands of a new generation of customers, reduce cost pressures in a recessionary environment, and adhere to regulatory changes.

Marketing 98

Marketing Robotics Process Automation Service Insurance 98

Magellan Solutions

FEBRUARY 14, 2024

Benefits of Healthcare Call Center Outsourcing Companies in the Philippines Cost savings – Outsourcing to overseas call centers in countries like India and the Philippines can significantly reduce labor costs for US healthcare providers and insurers. This improves customer satisfaction.

Call Center 98

Call Center Healthcare Outsourcing Insurance 98

Everest Group

MARCH 23, 2023

Capital Markets Operations – Services PEAK Matrix® Assessment The capital markets operations landscape is rapidly evolving as enterprises strive to meet the demands of a new generation of customers, reduce cost pressures in a recessionary environment, and adhere to regulatory changes.

Marketing 86

Marketing Robotics Process Automation Service Insurance 86

3Pillar Global

MARCH 14, 2024

When patients or members interact with your digital platforms, they’re engaging in transactional experiences—scheduling appointments, checking results, verifying insurance coverage, etc. In the end, it can reduce overhead—which reduces costs both now, and in the future as your organization grows. Financial benefits.

Healthcare 98

Healthcare Reduced Overhead Insurance Right-Sizing 98

Accenture Insurance

NOVEMBER 20, 2014

Low interest rates, increased competition, sales channel pressures, legacy technology and proliferating regulations are all putting insurers under pressure to reduce costs and increase operating efficiencies. Enabling Agile Insurance Finance and Risk through Shared Services Part 1: The Pressure is on for Insurance CFOs.

Insurance 40

Insurance Shared Services Finance Reduced Costs 40

SourceFit

APRIL 28, 2016

The global banking, financial services and insurance (BFSI) outsourcing market is expected to be worth more than $277 billion by 2020, according to a recent report released by Technavio. EMEA is also an important capital market and insurance business process outsourcing (BPO) location. Staff Leasing Philippines.

Insurance 40

Insurance Banking Outsourcing Service 40

IBM Services

JANUARY 15, 2024

As an insurance company integrating technology into the new development landscape, BoB-Cardif Life Insurance Co., As an insurance company integrating technology into the new development landscape, BoB-Cardif Life Insurance Co.,

Efficiency 72

Efficiency Insurance Robotics Process Automation Automation 72

Perficient Digital Transformation

MARCH 12, 2024

Focus on Clinical Outcomes and Cost-Effectiveness New entrants are moving away from merely processing claims to demonstrating improved health outcomes and reduced costs for plan sponsors. In my next blog, I outline ways payers and self-insured organizations can navigate this transition. We’re here to help.

Management 52

Management Healthcare Analytics Reduced Costs 52

Hyland

OCTOBER 31, 2022

Claims has been a top concern for property and casualty insurers , especially with recent events such as the COVID-19 pandemic and the ongoing threat of natural disasters. Claims in sectors like auto insurance increased in severity in recent years. Excessive processing can introduce delays and compound the cost of a claim.

Efficiency 52

Efficiency Insurance Analytics Sourcing 52

IBM Services

OCTOBER 30, 2023

The retailer uses these insights to optimize inventory levels, reduce costs and enhance efficiency. A leading insurance player in Japan leverages this technology to infuse AI into their operations. AWS’s scalable infrastructure allows for rapid, large-scale implementation, ensuring agility and data security.

Analytics 83

Analytics Retail Insurance Streamline Operations 83

Capgemini

JUNE 16, 2023

The trend started in the property and casualty insurance (P&C) industry and rolled into banking. Now we are seeing major changes occurring in the life insurance as well as benefits spaces. We have to reduce costs, create automation, and maintain business as usual. At Retiretech 2.0: What’s bringing up the rear?

Insurance 52

Insurance Administrative Regulations Reduced Costs 52

Magellan Solutions

FEBRUARY 15, 2024

Here are some of the benefits of healthcare call center outsourcing in the Philippines: Cost savings – Outsourcing to overseas call centers in countries like India and the Philippines can significantly reduce labor costs for US healthcare providers and insurers. This improves customer satisfaction.

Call Center 52

Call Center Healthcare Outsourcing Insurance 52

Groove Technology

MAY 18, 2023

Healthcare: MuleSoft helps healthcare organizations integrate electronic medical records (EMRs), patient portals, insurance systems, and other healthcare-related applications to improve patient outcomes, reduce costs, and enhance the patient experience.

E-Commerce 130

E-Commerce Supply Chain Management Government Banking 130

IBM Services

MAY 9, 2024

Healthcare organizations need a strong data governance framework to help ensure compliance with regulations like the Health Insurance Portability and Accountability Act of 1996 (HIPAA) in the US and the General Data Protection Regulation (GDPR) in the EU. Inaccuracies might also lead to more delays or complications with insurance coverage.

Government 72

Government Healthcare Regulations Insurance 72

Perficient Digital Transformation

SEPTEMBER 6, 2023

intermediate holding companies of foreign banking organizations , and certain insured depository institutions. Impacted organizations include certain large depository institution holding companies , U.S. Comments must be received on or before November 30, 2023.

Regulations 52

Regulations Banking Insurance Reduced Costs 52

31 West

JULY 26, 2022

The surging healthcare costs are highly discouraging for the patients as it makes most facilities less affordable. CT scans, lab tests, and even follow-up visits are costing (literally) an arm and a leg. You must also be aware that the drug manufacturing cost, insurance, administrative cost directly impacts this monstrous cost issue.

Healthcare 130

Healthcare Cybersecurity Administrative Reduced Costs 130

Everest Group

OCTOBER 1, 2022

Low code/no code development holds promise for banking, financial services, and insurance (BFSI) firms to gain agility and cost-effectively build innovative technology solutions – without needing professional developers who are in short supply. Reduced cost by having internal teams for development and maintenance.

Insurance 59

Insurance Banking Reduced Costs Collaborations 59

Everest Group

DECEMBER 14, 2022

Looking back at the downturn in 2008, new FinTech trends emerged, including personal finance management (PFM), insurance aggregators and marketplace, robo-advisors, crowdfunding, challenger/neo/digital-only banks, and cryptocurrencies. FinTechs will move away from bundling/aggregation to financial ecosystem orchestration.

Banking 72

Banking Insurance Finance Advisory 72

Automation Anywhere

NOVEMBER 23, 2021

Process insurance claims Processing health insurance claims is a task that must be done with precision. And it does add up in billing and insurance-related (BIR) costs annually paid by healthcare providers and patients. It is usually done manually, which can result in an error rate of up to 10%, causing rework.

Healthcare 80

Healthcare Automation Robotics Process Automation Administrative 80

Magellan Solutions

MARCH 5, 2023

Perform Functions of A Receptionist Virtual assistants perform the tasks of an office receptionist that schedule appointments, do follow-ups, manage customer records, process insurance, and communicate with patients. Through the help of a virtual assistant, processes like patient verification, insurance verification, etc.

E-Commerce 98

E-Commerce Healthcare Out-Tasking Administrative 98

Perficient Digital Transformation

JUNE 16, 2023

Camera-Enabled Document Upload Integrating a mobile device’s camera functionality to your healthcare app helps to scan and upload relevant documents, like insurance cards. This helps to simplify patient registration by eliminating the need for manual data entry or presenting physical documents while registering in-person.

Healthcare 52

Healthcare Data Entry Insurance Analytics 52

Hyland

FEBRUARY 2, 2023

Steve, Hyland’s assistant vice president of financial services and insurance sales, has more than two decades of experience in financial services. IA can deliver information, reduce costs, improve speed, enhance accuracy and remove bottlenecks with fewer human touchpoints. An excerpt from h is Q&A with BAI follows. >

Banking 91

Banking Automation Robotics Process Automation Reduced Costs 91

Metasource

JULY 12, 2023

By leveraging cutting-edge technologies like workflow automation , robotic process automation (RPA) , and artificial intelligence (AI), organizations can automate repetitive tasks, further optimize workflows, and gain valuable insights to enhance efficiency and reduce costs.

Management 52

Management Business Process Outsourcing Robotics Process Automation Reduced Costs 52

Perficient Digital Transformation

MARCH 19, 2024

Read More: Unpacking Business Transformation in Healthcare Healthcare Trend #6: Better Health Outcomes Through Shared Health Data The drive to simultaneously reduce costs and improve health outcomes is accelerating collaboration across HCOs. Focus on health equity. Explore our healthcare expertise , and contact us to learn more.

Healthcare 52

Healthcare Insurance Cybersecurity Collaborations 52

Metasource

SEPTEMBER 15, 2022

Many organizations have quickly joined the automation revolution to boost productivity, enhance customer service, reduce costs, and enable remote work. Companies in numerous industries, such as government , healthcare , financial services , and insurance , implement BPA to create new efficiencies and streamline their repetitive tasks.

Automation 52

Automation Robotics Process Automation Reduced Costs Human Resources 52

Everest Group

OCTOBER 17, 2023

For instance, Accenture’s acquisitions of Navitaire and Duck Creek Technologies showcased the power of assets, while TCS strategically positioned ignio as a transformation catalyst and upheld BaNCS as a revenue-generating platform within banking, financial services, and insurance (BFSI).

Streamline Operations 64

Streamline Operations Reduced Costs Insurance Banking 64