One of the most effective ways to enable profitability growth is through the effective use of innovative technologies. Yet, implementing technology can challenge budgets and resources. How do you determine which technologies are worth the investment today and which ones deserve a strategic "wait and watch" approach?
EGS’s Global Insurance experts help companies assess technologies, their effect on the organization, and the benefits that can be achieved, answering the question "Is the investment worthwhile, now?" If so, EGS is well positioned to handle or facilitate the implementation of technologies that prove to be of value.
While Mobility is quickly becoming table stakes for
insurance carriers, implementing mobile solutions successfully
requires more than simply providing downloadable apps to
employees, agencies and customers. EGS helps insurance carriers
take a strategic approach to their mobile offerings, ensuring
that these offerings truly enhance the user experience, provide
functionality that users want, while leveraging on the
capabilities of the device.
EGS works with carriers
to take advantage of Big Data / Analytics predictive
modeling for a wide variety of business activities, including
underwriting, marketing, claims and risk management. During the
underwriting process, analytics provide guidance to underwriters
to improve risk quality assessment and optimize prices.
EGS’s Data experts supports carriers to identify customers
who are most receptive to cross-sell offers or those most likely
to defect. This pre-analysis, by a talent pool of IT Insurance
Experts from our EGS’s Center of Excellence - Big Data,
helps carriers proactively reduce fraud by detecting potential
fraud earlier in the process and by detecting otherwise hidden
patterns of fraud.
EGS’s Modern Core
Systems helps carriers take advantage in Regulatory
Automation over their peers working within the confines of
legacy environments. EGS’s Modern Core Systems, based on
business rules or workflows rather than hard-coded instructions,
are much easier to maintain and change as regulations morph.
Most of the carriers provide a robust portal environment
that provides functionality to Agents, including uploading
applications, quick quotes to bind and issue endorsements,
quick-and-easy access to appetite guides, and proprietary rules
and forms. EGS’s real-time upload and download
functionality to agency systems help carriers work with large
insurance agencies that represent multiple carriers.
EGS’s social media tools improves collaboration and
improves decisions and processes both internally with carriers
and externally with distribution channels. Social Media is
about helping people connect. Consumer and agent expectations for
connection have been established through social media tools that
provide an opportunity for people to collaborate and share
information. Social media tools such as Facebook, LinkedIn and
Twitter are frequently used in marketing to drive brand awareness
and connect with customers.
EGS’s Global
Insurance Services has the expertise and solutions in all of
the aforementioned trends. EGS helps you assess your needs, then
plan, build and manage technology programs that match those
needs. EGS works with you, in a collaborative fashion. Our IT
Insurance Specialists from EGS’s Center of Excellence
determines the best value addition solution that you should add
now and position you for the future.
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