The importance of intelligent insurance operations

Now more than ever, the insurance industry needs more intelligent, agile and composable solutions to overcome challenges and meet higher customer expectations. Insurance software company Earnix champions an “intelligent insurance operations” approach.

Earnix is a global provider of real-time AI-driven rating, dynamic pricing, product personalisation, and fully operationalised telematics solutions for insurance and banking. The company said that intelligent insurance operations can help companies accelerate their time to market, better serve the modern customers, and unlock huge potential.

An increasingly digitalised and convenient world has raised the bar of customer expectations. However, Earnix said insurance companies have thus far struggled to meet the demand for increasingly tailored experiences.

Whether it is monolithic core systems, the restructuring of inefficient and siloed technologies, or operationalising insights from large data sets, Earnix said the disconnected insurance operations of today are ill-equipped to keep up with the personalised, highly responsive world of tomorrow.

To meet these elevated expectations, Earnix said carriers must improve their standard of personalisation and deliver more customer-centric experience. They must also endeavour to fully leverage risk, behavioural, and lifestyle data to create connected, tailored experiences across digital channels. In addition, carriers need to create more flexible and open infrastructure to implement composable solutions and stay ahead of ongoing technical transformation, and combine advanced analytics and real-time systems to quickly identify and respond to customer demands

Earnix creates dynamic, composable and intelligent solutions that can equip companies with the tools to “reimagine insurance operations,” helping them to evolve their best practices and innovate their operations to better serve customers.

By creating more agile, composable and resilient infrastructure, Earnix said its customers confidently take on large-scale transformation while instantly unlocking more value from advanced analytics with every engagement.

“We connect existing systems, new technologies, diverse teams, and modern customers to not only improve what exists, but

to accelerate ‘what’s next’,” the company said.

Read the full ebook here.

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