Introduction Insurance Underwriting and its management is a crucial department in the Insurance industry as it helps determine appropriate pricing for the correct risks associated with businesses. However, manual underwriting risk assessments are time-consuming, prone to errors, and may cause information loss. In fact, according to Accenture, more than 50% of an average underwriter’s workday […]
Introduction Over the past few years, the Financial Services (FS) sector has witnessed a reduction in expenditure required for carrying out processes related to customer transactions. As more information is exchanged between channels, new data keeps accumulating. Even with the adoption of new digital technologies, many non-banking financial institutions struggled to cope with this shift […]
The maturity of no-code artificial intelligence (AI) applications, including their vendors, Robotic Process Automation (RPA), Application Programming Interface (API), Intelligence Process Automaton (IPA), decision engine, and cloud architecture has created an accessible cost-elastic ecosystem. In other words, it’s an operational environment that’s freely available, cost-effective, no to low code off-the-shelf business automation solutions. This ecosystem […]
Insurance companies arguably receive a massive volume of customer inquiries every year, and many of these are not too simple to handle. Burdened with increasing requests ranging from insurance policy information to payments, and renewal to complicated grievances, insurance companies often witness a drop in work efficiency due to such high demand. Even though recent […]
