The challenges

The insurance industry is facing extensive changes. It is one of the classic industries that has been in a comfortable position for decades and has hardly been forced to make any fundamental changes. Increasing numbers of customer inquiries and the complexity of insurance contracts are increasing the pressure on insurance companies to act enormously. Companies in this sector will inevitably have to deal with

• disruptive competition

• the complexity of contracts

• digital business models

• increasing regulation

• high customer expectations

and have to actively seek solutions.

Digitalization is at the heart of this transformation: optimal processes are essential to assert oneself against agile InsureTech companies, dwindling customer loyalty and regulatory pressure. The approach is to record processes in a targeted manner and uncover efficiency and savings potential using modern analytics. Ultimately, only processes that have already been optimized should be digitalized or automated.

Transparently model, analyze, optimize and control company processes.

Our process optimization solution can help to make insurance company processes more effective and efficient. By automating manual activities and processes, the processing time for inquiries and claims can be reduced, which in turn leads to an increase in customer satisfaction. Better cooperation between departments and a central information platform can help to improve efficiency in the processing of applications and claims.

Another benefit of process optimization is that it enables better compliance and risk management. Improved data analysis and management can help to identify and minimize risks at an early stage, which strengthens the security and trust of customers.