Perficient Digital Transformation

FEBRUARY 28, 2024

With new risks, shifting market dynamics, and the unstoppable march of technology, the insurance industry finds itself at a crossroads. The imperative for transformation has never been clearer, and this is highlighted in Forrester’s report, The Future Of Insurance.

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Perficient Digital Transformation

FEBRUARY 27, 2024

This blog was co-authored by Perficient’s Insurance Principal and expert: Brian Bell As we step into 2024, the insurance industry faces significant transformations driven by technological advancements and evolving customer expectations. Digitizing functional processes can lead to significant cost savings and efficiency gains.

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3Pillar Global

MARCH 14, 2024

What do healthcare systems get wrong about digital solutions? If there’s a fundamental problem healthcare systems face when building and updating their digital solutions, it’s this: focusing on features and capabilities, not the outcome it will drive for patients or members. Financial benefits. Staff satisfaction and retention.

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Magellan Solutions

APRIL 28, 2023

Top 7 Benefits of Outsourcing Administrative Functions for Insurance Companies Insurance companies encounter a variety of challenges nowadays. Outsourcing administrative functions for insurance companies has been a proven strategy to consider. With the rising inflation, insurance companies are looking for ways to reduce costs.

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Everest Group

APRIL 8, 2024

Intelligent Document Processing (IDP), Banking-specific IDP, and Insurance-specific IDP Products Intelligent Document Processing (IDP) products continue to play a vital role in enterprises’ automation technology portfolios. Advances in generative AI are driving providers to ramp up their IDP capabilities.

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Magellan Solutions

APRIL 24, 2023

Stay Ahead of the Compliance Game: How Insurance Companies Can Meet Regulatory Requirements Nowadays, businesses should be up-to-date with the governing laws on data security. Outsourcing insurance compliance services can assist businesses with the changes in regulatory compliance. Additionally, it lowers exposure to potential risks.

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Magellan Solutions

APRIL 19, 2023

8 Secrets to Improving Customer Service in the Insurance Industry with Outsourcing If customers do not get satisfactory service, they easily switch to other competitors. In order to keep up with the changing needs, improving customer service in insurance is one of the top priorities of businesses. when outsourcing.

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Hyland

OCTOBER 17, 2022

In less than five years, insurers have gone from highly skeptical to fully embracing cloud-first strategies. A cloud computing platform allows insurance companies, with the help of software vendors, to create and host applications in the cloud without being concerned about the infrastructure the application will run on. Integration.

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Everest Group

OCTOBER 26, 2023

Cloud Services in Insurance The insurance industry has been relatively slow in adopting digital measures due to regulatory constraints and product complexities. In the past, insurers have embraced cloud technology as one of the prominent technologies. However, carriers are embracing the change to become risk mitigators.

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Go4Customer

SEPTEMBER 24, 2021

s highly complex and volatile business environment, the insurance industry across the globe is undergoing substantial change. Recently, companies engaged in the insurance business have been appreciating the importance of agile and flexible outsourcing. This is triggered by the changing market drivers and regulatory norms.

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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. As part of a digital mailroom solution , an outsourced mailroom partner will handle all the heavy lifting: Claims are sent to a dedicated P.O.

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McKinsey and Company

MARCH 17, 2022

As insurers rethink agent relationships, American Family Insurance is looking ahead, investing in digital tools and solutions that help agencies stay on top of trends and changing customer needs.

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Perficient Digital Transformation

DECEMBER 29, 2023

Since that blog was published, the FDIC has issued an update on its Restoration Plan for the Deposit Insurance Fund (DIF). The Federal Deposit Insurance Act (FDI Act) requires the FDIC Board to adopt a restoration plan when the DIF’s reserve ratio—the ratio of the fund balance relative to insured deposits—falls below 1.35

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Velocity Global

JUNE 7, 2023

and international companies that send foreign employees on assignment to Mexico or allow them to relocate and work in Mexico must prioritize their employees’ safety and health insurance coverage. Read below to learn how to ensure proper and compliant health insurance in Mexico for your expatriate employees living and working in the country.

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Everest Group

OCTOBER 7, 2023

Property and Casualty (P&C) Insurance BPS Enterprises have been increasingly turning to P&C insurance BPS providers during the recession to address elevated operating costs resulting from heightened inflation, which has led to increased claims expenses and rate adjustments for various P&C products.

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ScaleHub

OCTOBER 31, 2023

A look at four AI + Human Intelligence-related trends McKinsey & Company’s report, Insurance 2030–The Impact of AI on the future of insurance, … The Future Of Insurance with AI and Human Intelligence Read More » The good news: It’s here already.

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Everest Group

MAY 31, 2023

From the many thought-provoking conversations that Everest Group analysts engaged in at Formation ’23, three main themes emerged about the future of insurance technology. In this blog, we will take a closer look at these growing trends and explore their potential impact on the insurance industry. Contact us directly for more insights.

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Perficient Digital Transformation

NOVEMBER 21, 2023

With nearly three decades of experience directing commercial lending, corporate finance, and insurance for leading brands, Perficient’s Insurance Principal, Brian Bell, stands at the forefront of our financial services practice. Brian believes insurance serves a noble purpose and is a great source of pride.

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Global Help Desk Services

MARCH 21, 2024

That same health insurance chatbot could suggest you reduce your stress by recycling your old VCR.) When artificial intelligence fails, where should human IT solutions bridge the gap? But AI can also be less than helpful. If AI support fails your customers, they’re back where they started: needing a help desk.

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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.

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Automation Anywhere

JANUARY 20, 2021

When it comes to underwriting, the goal for insurance carriers is to determine the right price for the right risk. Meeting that goal can help them not only be competitive in today's crowded, highly demanding insurance market but also assist them in achieving profitable growth with reasonable loss ratios.

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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.

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AS White Global

NOVEMBER 13, 2023

ASW Global was among the exhibitors at the National Insurance Brokers Association (NIBA) Convention last 8-10 October 2023 at The Star, Gold Coast. The annual event brings the insurance broking profession and broader insurance industry together for an engaging and informative experience.

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Everest Group

MARCH 10, 2023

Cloud computing presents a huge opportunity for insurers to drive growth, improve efficiency, and deliver innovation, among other benefits. Read on to learn about the coming phase of industry cloud and the key role system integrators (SIs) can play in advancing cloud adoption in insurance. Let’s explore this opportunity further.

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Everest Group

FEBRUARY 24, 2023

Insurance carriers need to transform their risk function, become more agile, and proactively create new offerings that protect against the threats of 3Cs: climate risk, cyber risk, and crypto risk. Read on to learn how this environment can create opportunities for insurers.

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Everest Group

APRIL 21, 2023

With pension risk transfer (PRT) activity hitting post-pandemic record highs of $53 billion in North America market volume last year, this growing market represents a massive untapped opportunity for technology and services providers to leverage their retirement and pension expertise to deliver new solutions.

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Everest Group

JULY 7, 2023

Embracing sustainability in the insurance industry is not just a choice, but a necessity for a resilient future. By integrating Environmental, Social, and Governance considerations into their practices, insurers can mitigate risks and foster long-term value for customers, shareholders, and the planet.

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Everest Group

APRIL 4, 2023

Leading InsurTechs with pure-play digital models are heating up the competitive landscape, making it imperative for traditional insurers to optimize their claims functions. An insurer can achieve future goals by accelerating the adoption of next-generation capabilities.

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Everest Group

MAY 24, 2023

As the insurance industry undergoes a paradigm shift post-pandemic, digital transformation can improve customer experience and engagement. Partnering with service providers will help insurers overcome barriers and improve efficiencies. Read on to learn more. Reach out directly to discuss or for more information.

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Magellan Solutions

JULY 21, 2021

Different Types of Insurance Claims Outsourcing. Insurance claims outsourcing proves to be helpful for insurers worldwide. Insurance products and services are ever-changing in this specific niche. Yet services of insurance BPO remain consistent. Global insurers often outsource for the following reasons.

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Risk Guide

SEPTEMBER 14, 2022

A Ukrainian risk manager told Commercial Risk’s latest event that now is the moment for insurance to prove its worth and help his country in its hour of need. He urged insurers to step up and help insureds in the Ukraine, as well as others around world affected by the war, to bounce back from the ongoing crisis. “

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Perficient Digital Transformation

SEPTEMBER 26, 2022

Our insurance team is just returning from InsureTech Connect (ITC). ITC is one of the, if not largest, industry gatherings of insurance carriers, solution provers, implementation partners, and startups. Data and analytics remain key investment areas for insurance operations. What a great week in the desert!

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AS White Global

AUGUST 10, 2022

In recent years, insurers have relied on outsourcing insurance services to give them a significant edge in this highly competitive industry. Insurance companies have had to adapt to changes in regulations and to their customers’ evolving needs in response to the pandemic situation. Access to a wider pool of qualified talent.

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ScaleHub

APRIL 12, 2023

As an insurer, do you want to process a claim in under an hour? Or set yourself apart as a “new” kind of insurance provider? Then come to Cologne, Germany and meet us at InsureNXT, the International Congress & Exposition for innovation in the insurance industry on April 26 and 27. Meet every SLA?

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Magellan Solutions

JUNE 22, 2021

Innovating your insurance accounting outsourcing through digitalization is one way to adapt with the ever changing situation of the industry. Insurance accounting outsourcing has been a big help for any small businesses. Developers create an app so that clients can check their insurance application. Faster Claims.

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Magellan Solutions

FEBRUARY 20, 2021

Who Needs Insurance Outsourcing? Outsourcing is an effective business solution for most industries. 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 Outsourcing Service Providers Offer.

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AS White Global

AUGUST 10, 2022

In recent years, insurers have relied on outsourcing insurance services to give them a significant edge in this highly competitive industry. Insurance companies have had to adapt to changes in regulations and to their customers’ evolving needs in response to the pandemic situation. Access to a wider pool of qualified talent.

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