help insurers quickly adopt to the digital age of doing business
Overview
Insurance customer demands have changed in the recent years. Today, they are tech savvy and connected to the digital world. They are more informed and want to have options in their purchases and transparent customer experience. The traditional Life and Annuity insurance was sold with the help of agents and was more trust-based business.
Hence, the enterprise IT applications and processes with most insurance companies are legacy based, and not equipped to handle today’s scenario. Over the years, new products and geographies has made the systems even more complex. Quale Infotech with its innovative solutions around Robotic Process Automation (RPA) and Artificial Intelligence (AI) has helped global insurers to adopt digital over the existing legacy applications.
Success story: Automation of Customer Onboarding process
A leading insurance company were facing challenges with optimizing their customer onboarding process. They had a high Turnaround Time (TAT) as the process was manually intensive, the inflow of forms was variable and unpredictable, and the Sales team for acquiring new customers was spread across the globe. Therefore, this was also resulting in a very weak customer experience.
Quale Infotech developed an AI/ML based solution to automate about 90% of the onboarding process, thereby significantly reducing the TAT and the overall process costs.
Features and Benefits
Digital Customer Experience
We help enhance your customer engagement with the help of Artificial Intelligence (AI), which helps you win market share.
Stay Ahead of Regulatory Compliance
Changing regulatory landscape in the insurance industry requires continuous investments, automation and AI helps you stay ahead.
Add Features to Legacy Applications
Intelligent Automation helps modernize your infrastructure without the high cost of changing legacy applications.
Analytics for Decision Making
Get deep insights from your customer data using analytics to help identify customer buying preferences and identify risks accurately.
Introduce New Products
Insurance companies looking at expanding their business by introducing new products or new geographies can do so with a small lead time.
Improve Organization Efficiency
Intelligent Automation helps provide improved accuracy for tasks and improved productivity for business units.