INSURANCE
Despite being seen as a slow-mover , the insurance industry has embraced automation in the last few years , with benefits felt on both sides of the transaction process . Gone are the days when insurers could afford to manually onboard new customers , check their documentation , provide them with quotes for new policies and review each claim as it comes in .
Automation allows companies to speed up required background checks such as anti-money laundering ; improve the accuracy and reduce time taken for claims to be processed ; build a clearer , holistic view of the risk associated with any single policy ; and deliver a cleaner , more instant experience to the consumer regardless of the touchpoint .
Jeffrey Skelton , MD Europe for LexisNexis Risk Solutions , explains : “ The insurance
“ INSURANCE WILL SHIFT FROM ITS CURRENT STATE OF ‘ DETECT AND REPAIR ’ TO ‘ PREDICT AND PREVENT ’, TRANSFORMING EVERY ASPECT OF THE INDUSTRY ”
MCKINSEY
Intelligent automation solution for insurance claims with IBM Cloud Paks insurtechdigital . com 45