Financial Services
Why Connected Car Insurance is the Future
Reading time: 4 minutes
The world of auto insurance is changing fast, with customer expectations shifting rapidly toward auto policies that leverage usage-based pricing models, something traditional insurance IT systems can’t typically support. Even before COVID-19 changed driving habits, consumers already started to demand behavior-driven pricing. In April 2020, Americans drove 64% fewer miles, and KPMG predicts as much...
Financial Services
5 Pressures Facing Auto Insurance Companies (+ How to Deal with Them)
Reading time: 5 minutes
The cost of claims across insurance sectors have been dropping over the past few years, with automation and technology reducing the cost of claims as much as 30%. At the same time though, there’s a host of pressures on auto insurance companies to change their premium pricing model to stay competitive with the market. What’s...
Financial Services
How to Improve the Claims Management Process
Reading time: 4 minutes
What does your claims process look like? Most insurance carriers typically have confusing multi-tiered processes that the average customer struggles to figure out and ignores the emotional journey the claimant is most likely going through. Customers expect digital self-service experiences in everything from food delivery, same-day shipping, to breaking news on social media; they’re going...
Financial Services
Achieve an Improved Underwriting Process with Salesforce
Reading time: 2 minutes
Changes in the insurance industry have recently resulted in increased efforts to ensure new data points and pricing logic can be leveraged to maximize outcomes. This means that insurance underwriting processes need to catch up. By combining both engagement and transactional capabilities within a single platform, insurers can improve time to value and increase tactical...
Salesforce News
Salesforce Acquires Vlocity: Why This News Matters Now
Reading time: 2 minutes
The Salesforce acquisition of Vlocity will drive tremendous value for our clients and ultimately speed the pace of innovation for specific industries. Since the launch of Financial Services Cloud (FSC) and Health Cloud in 2015, Salesforce has demonstrated a commitment to driving innovation at the industry level, and this acquisition doubles down on that strategy. ...
Financial Services
Digital Transformation in Insurance Quote to Issue
Reading time: 4 minutes
Now, more than ever before, prospective clients have higher expectations of Insurers. In many cases, especially in direct-to-client distribution models, the first meaningful interaction between the applicant and carrier is a quote. So that quote needs to provide more than just numbers, it needs to provide an experience — and a good one at that....