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Category: Business trends

Insurance Document Processing and the Opportunities in AI

Customer acquisition and retention are the essential drivers of insurance revenue and profit.  Today’s insurers face a new breed of competitor who targets customer experience with smart technologies, such as AI, focused on removing friction from their interactions. As FinTechs have done in consumer banking, new InsureTechs transform customer experience through smart mobile apps, integrating the phone’s camera as an input channel, and collecting data to target personalized offerings.  Competing…

5 AI Trends to Watch in 2020

Artificial Intelligence (AI) is embedded in our everyday lives. AI technologies have become so advanced that it’s not uncommon nowadays to be in contact with them without fully realizing it. In the enterprise, AI solutions such as Process Intelligence (IQ) have witnessed a staggering adoption rate and have significantly transformed how processes are monitored and managed across an organization. As AI continues to scale in 2020, it will continue to…

Modernizing the Insurance Industry: The Missing Link

If you work in the insurance industry, a bad day at work might look like this. One customer announces that she’s cancelling her policy and going to a competitor after experiencing delays in exchanging the accident reports, appraisals and other documents needed to settle and pay her claim. Later that day, another prospective customer complains that your company took too long to qualify him for a policy compared to the…

The Modern Age “Machine Gun” for Successful and Enterprise-wide RPA

RPA or Robotic Process Automation is definitely a hot topic. The reason is obvious: process automation done correctly can dramatically reduce cost, while increasing both the speed and accuracy of process execution. As demand and expectations skyrocket, RPA vendors and adopters alike are finding their initiatives unintentionally and often unnecessarily gated by two major factors: The time and effort required by the pre-RPA process discovery and benchmarking of the as-is…

Is Your Business Ready for The Cloud?

Here’s a tech prediction experts need no crystal ball to make: sooner rather than later, most organizations will move most of their IT to the Cloud! The cloud is hot these days. The vast majority of software vendors are moving away from “building generators” and are more and more becoming “suppliers of electricity”, operating on premise is no longer enough in today’s dynamic business environment where customers clamor for faster,…

Why RPA is on Every Business Leader’s Mind

In recent months, Robotic Process Automation (RPA) has been a hot topic among business process experts. Lots of companies have begun to think about RPA as a tool to improve their operations and move them further into “the future of business: automation”, but what is RPA and what exactly does it have to offer? Imagine a mixture of tedious process investigation (you know the kind with overhead cameras, clipboards, and…