General Insurance
Enhance Productivity and Customer Service in General Insurance
General insurance (GI) companies face the dual challenge of selling high-volume, low-margin products efficiently, which requires leveraging digital channels and data insights to stay competitive, whilst improving customer engagement through modern, omnichannel communication methods, especially when contending with outdated systems.
Business Drivers for Modernisation
EFFICIENCY AND COST REDUCTION
enhanced customer experience
DATA AND ANALYTICS
Modern systems streamline operations, reduce manual processes, and cut costs associated with maintaining legacy systems.
Digital transformation enables seamless, omnichannel customer interactions, improving satisfaction and retention.
Leveraging data and analytics helps insurers better understand and predict risks, personalise policies, and make more informed decisions.
REGULATORY COMPLIANCE
SCALABILITY
COMPETITIVE ADVANTAGE
Modern systems ensure compliance with evolving regulations, reducing the risk of penalties and enhancing trust with stakeholders.
Modern infrastructure supports growth and scalability, allowing companies to handle increased volumes without compromising performance.
Staying competitive in a rapidly changing market requires adopting the latest technologies to offer innovative products and services
64% of equity analysts believe technology modernisation is one of the most important cost transformation levers for insurers today.1
About 83% of insurers agreed that technology is redefining the insurance industry and customer expectations.2
Approximately 55% of insurance carriers will invest in new technologies to better handle claims.2
Creating a single pane of glass view provides actionable insights on customers, enabling organisations to better understand customer needs, and where and how they like to receive information. Organisations can use this data to better serve existing customers and to close new deals with prospects.
OUR APPROACH TO CLOSING THE GAP
We offer digital transformation programs that can either wrap around existing systems or provide complete replacements, leveraging modern technologies to enhance functionality and efficiency.
For the GI market, we supports sales through data aggregation, AI tools, and digital channels, helping companies lower costs and increase sales.
Book a Demo with one of our Business Modernisation Experts
Resources:
1: https://www.accenture.com/za-en/insights/insurance/fuel-future-insurance-technology
2: https://stratoflow.com/digitalization-in-insurance/