This white paper will examine “Know Your Device” (KYD) as a method to not only protect against fraud, but also enhance insurance customer’s digital channel experiences and compete in a crowded marketplace.
Claims executives have become trapped in a perpetual cycle of incrementally lowering indemnity costs by increasing loss adjustment expenses (or vice versa). Often these cost reductions harm customer satisfaction and retention. Telematics is uniquely suited to address all the major contributors to claims expense and help insurers achieve sustainable cost reductions while improving policyholder outcomes.
For insurance organizations, competitive differentiation relies on customer experience (CX). As we move into the Digital Age, it is important to leverage customer data to understand how to deliver a great CX.
Insurance organizations, and the executives who run them, are experts in managing risk and cost — except when it comes to managing their business spend. Finance and procurement professionals in insurance companies often lack even the basic tools to obtain visibility of spend in order to spend smarter by increasing efficiencies, reducing spend waste, and mitigating business-critical risk. This report highlights spend-related risks Insurance organizations face, and how Business Spend Management slashes these risks.