Author Archives for Elafris

The acceleration of the pace of life from the digital revolution puts insurance workflows in stark contrast, with its manual processes, patchwork of poorly coordinated systems and days and weeks to get anything accomplished.  For consumers, everything around dealing with insurance is viewed as a chore, an imposition.Despite ongoing efforts to improve services incrementally and develop extensions and variations on insurance products, the industry seems to have kept its feet…

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The business of insurance is challenging. Highly complex, countless regulations and burdensome reporting, it also requires personalized service to each customer. Recent years have brought new riddles to solve, like commoditization and the digital revolution. For those who can manage these demands, it’s an industry that can be very rewarding. For the past decade consumers started to believe policies differ only by price. This insurance commoditization has been plaguing the…

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 The insurance industry has been undergoing a digital transformation for the past few years. The majority of attention has focused on three areas--the sales process, customer support, and back office workflow efficiencies. A relatively unaddressed area by this revolution is arguably the more important for one, the claims process. Digital transformation of claims is set to become a prime insurer differentiator in 2019. The recent history of increased claims volumes…

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Consumers who have encountered the past crop of smart AI assistants are waiting for better “intelligence” from these AI-enabled platforms. For companies developing digital assistants, the expectations are even more stringent--brands design scripts for customers to follow that seem, to the company at least, like they are intuitive and necessary. Users instead hope the virtual agent will understand their requests and answer in human-like, conversational language and in a meaningful…

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Insurance is not immune from the changes taking place in every industry from the new artificial intelligence (AI) technologies accelerating the digital revolution. Much of this advanced automation and “intelligence” seemed far off in the future but they have become mainstays in our business processes and our customers’ lives, barely warranting our notice anymore. From speaking to a phone auto-attendant about why we are calling, to systems that scan and…

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Artificial intelligence adoption in the insurance industry, from carrier to agency, has gone from if to when. 2018 became the year leaders at all corners of the insurance ecosystem had to admit AI is important for the future of the business. The question at the top of the agenda for innovation executive teams is how to select the optimum uses for artificial intelligence services. Part of the answer depends both…

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Viral, runaway--good descriptions for the growing changes infiltrating the property & casualty insurance field. Month by month emerging tools for insurers are coming to the marketplace, both from established companies expanding their products and upstart insurtech entrants seeking to bring a fresh set of capabilities to the industry. Insurance AI versus ROIThe tough task for agencies and carriers is to know where exactly to invest in the waves of promising…

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Through the third quarter of the year, it’s apparent that 2018 is the year artificial intelligence and smart automation arrives in force to the insurance sector. The number of carriers and agencies creating partnerships and investing in new uses for this revolution is hitting record numbers, with 85% reporting that they are focusing on solving challenges, both longstanding and emerging ones, with the new tools. Sophisticated, self-learning and adaptable solutions…

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The challenge for insurers is how to meet the increasing policyholder expectations without breaking the bank. At the ready are smart virtual agent tools solve this puzzle while also delivering service cost savings. But how do agencies move forward with these tools and integrate them into current day-to-day operations? Artificial intelligence and the subfields of machine learning and natural language processing have been moving from academia and the research labs…

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Talking on the phone is taking a backseat to all of the other ways we can communicate. Writers lament over the loss of our shared habit of jumping to answer the phone, but with the number of robocalls surpassing 3 billion per month in the U.S., we may have been driven away from using the phone, or even listening to voicemails. Sales calls, scams, pollsters and politics seem to ring the…

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