How Exdion helped HNI save 30% costs in Policy Checking An insurance company issued a client an insurance policy that included blanket coverage for multiple commercial properties. A fire broke out at one of the properties, resulting in a financial loss that exceeded the insurance limits. The client had requested policy coverage per property, which […]
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The Insurance Data Lifecycle – All about Data Extraction Insurance is a data-driven industry that relies heavily on paper documents. Critical information that insurance agencies and agents need for underwriting, policy administration or claims management often gets locked away in forms, emails, and other unstructured documents. Several critical functions in the insurance process continue to
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How The Connected Insurance Ecosystem Is Bringing New Life To The Industry Many industries have embraced digital transformation and the insurance industry has also started following suit. Focusing on offering additional services aided by technology to help retain and attract new customers has become imperative for the insurance industry. Technology has the potential to make
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The use of Artificial Intelligence for insurance policy checking has grown by leaps and bounds as AI tools can rapidly compare a high volume of policy clauses and make human reviewers faster and effective. And why would they not? The technology that helps in automating the review of insurance policies has progressed dramatically over the
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The insurance industry is experiencing change on multiple fronts at a rate that has not been witnessed for at least a generation.The rising cost of claims and the complexity of managing claims is one of the pressing challenges insurance companies are facing.Regulations and compliance is increasing, reduced cost of entry for new market players is
As we move into 2020, a new reality is emerging in many traditional industries. History and vestiges of working is becoming more of a competitive impediment, not a strategic advantage any more. New competitors, uncertain macroeconomic conditions, newer distribution channels and customers demanding 24/7 hassle free experience are posing many challenges to traditional incumbents who
