Tag: legacy systems

Claims represent a pivotal moment in insurance, often determining customer loyalty and future business opportunities. They not only involve the insurer and the customer but also the beneficiary, creating a chance to impress and potentially convert the beneficiary into a new customer. This underscores the importance of a satisfying service process during claim handling.

The 2024 1LoD Surveillance Benchmarking Survey & Report, featuring insights from over 30 leading global banks, has highlighted the pressing need for banks to update their call surveillance practices. Sponsored by Wordwatch, the report outlines the operational and financial risks associated with maintaining multiple legacy systems.

In the rapidly changing landscape of customer and business interactions, understanding and adapting to the dynamics of generational preferences is more crucial than ever....

In the realm of financial services technology, navigating through legacy systems and enhancing data quality are pivotal concerns that most organisations grapple with. TAINA, a leader in this field, acknowledges these challenges and has dedicated extensive efforts to develop a suite of tools and methodologies aimed at simplifying the data migration process.

CommBox, an AI-driven customer communications leader, has introduced its latest innovation, Era AI to enable customer service to be intelligently automated.

The London Market is on the precipice of a digital transformation, and one significant initiative propelling this change is the Core Data Record (CDR) introduced by Lloyds as part of the Lloyd’s Blueprint Two programme. This strategic move aims to standardise and streamline the collection of critical transaction data, marking a pivotal leap in market efficiency. InsurTech Novidea explains why CDR matters for London market brokers. 

In 2022, Fenergo's annual research survey of global investment banks highlighted a labor-intensive environment in Know Your Customer (KYC) processes. These processes were costing banks as much as $35m annually.

In the evolving landscape of insurance, there is a stark need for adaptation. The rampant shift towards digitalisation has impacted the very core of how insurers operate, but the data-driven wave hasn't been smooth sailing. Underwriters and actuaries, key players in the industry, voice discontent with contemporary processes.