Automation that saves time and money
Prospective customers and Insurance brokers alike see price as less of a differentiator than ever before. In many of their eyes, comparing policies is a waste of time as the majority of those policies have the same basic structure and the same basic perks.
So, how do your differentiate yourself in today’s highly commoditized insurance markets? Yesterday’s insurance companies are wasting money adding on creative, expensive riders that they think will differentiate their product. However, they end up inflating rates, lengthening quote turn around times, and still aren’t seeing the jump in sales that they anticipated. Today’s top insurance companies are the ones winning because they’re able to respond and provide an accurate quote in the shortest amount of time.
How do you improve your quote turnaround times? Yesterday’s insurance companies are using underwriting systems and tools from 15 years ago that require a number of approvals and manual workarounds to get the desired quote out the door. Leading insurance companies are using specialized solutions from Zia Consulting that allow for a unified interface for their legacy underwriting systems to reduce the amount of exceptions and decisions that need to be made to produce an accurate quote and get it out the door faster than ever. They’re automating the ingestion of policy specification documents that allow for faster and, in many cases, automated decision making. This way, your underwriters spend more time working on the more difficult policies to underwrite and less time rubber stamping or rejecting policies that shouldn’t require much manual work.
Download our white paper, Accelerating the Claims Process—Reduce Costs and Enhance Customer, to see how automation can help you. Then, contact us to see how we can reduce turnaround time and get your employees back working on high-value tasks.