Insights
We’re sharing our thoughts on the state of insurtech and how industry trends are impacting businesses. If you’d like to keep up with the discussion, you can sign up to receive our newsletter at the bottom of this page.
Application Integration and Data: How They Work Together
While interconnecting independent systems may not seem like a high priority, proper application integration can transform how your organization accesses data. This is especially true in industries like insurance, where continuous, accurate data is central to daily operations.
Managing Relationships with Third-Party Vendors
Today, more than ever, companies of all sizes are turning to third-party vendors to outsource certain business functions. Third-party vendors can supply a variety of services, such as marketing or security. Over one-third of small businesses in the US use a third-party vendor for at least one area of their operations, with IT and tech support being among the most commonly outsourced functions.
Cost Optimization Through Process Automation
Process automation is one of the most transformational cost optimization technologies, especially in data-heavy industries like insurance.
5 Steps to an Effective Change Management Process
Enacting organizational change is never simple, especially in industries like insurance, which often rely on a variety of “tried-and-true” tools and methods. In spite of this, change is necessary for any company that wants to stay relevant and competitive. Rather than resisting change or forging ahead without the correct tools, having a clear, multi-step plan is essential to the effective implementation of the change management process.
Understanding Data Federation
Data plays a foundational role in most modern businesses. This is especially true in data-heavy industries such as insurance, where having comprehensive, accurate data is the single most important aspect of efficiently examining and processing claims. But because of the nature of modern workflows, important data often comes from a variety of separate sources. That’s why data federation is essential to ensuring that your company can access and use the data needed for everyday operations.
Why Automate?
Business process automation is becoming more common and accessible for many fields and industries, using technology to streamline workflows. There are many strategies to implement process automation and nearly endless potential for its uses. Determining whether automation can help your business comes down to the fundamental question: why automate?
How Much Can Automation Really Change Insurance?
Automation is becoming more common and accessible for many fields and industries, using technology to streamline workflows. But many adopters of automation focus exclusively on automating physical processes like manufacturing while completely overlooking the many applications of automation for everyday business tasks.
What Are Data Silos and How to Avoid Them
Data is central to any business process, especially in information-heavy industries like insurance. Getting the right data can be a challenge, even when an organization has already done the work of collecting it. When companies consistently struggle to access data internally, they may be facing data silos. Data silos are one of the greatest sources of inefficiency, and avoiding them is key to making fast, informed decisions.
How to Know If Your IT Vendor Is Right for You
Information technology is more vital to smooth, efficient business practices than ever before, and it’s also one of the most commonly outsourced business processes. Finding the right IT vendor can be a real challenge. Many companies hire an outside firm to handle their IT processes and then take them for granted, but the gap between good and bad IT vendors is significant, and knowing what to look for can make a world of difference.
What is Data Integration and Why Does it Matter?
Data integration was once time-consuming, and many companies still rely on manually integrated data to keep all records up to date. However, automation is leading the charge for businesses preparing for a more efficient, connected future. In fact, automation for data integration is transforming the way organizations collect and use their data, eliminating both inefficiency and the potential for human error.
