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1. It's all about online engagement.
According to Celent, about 55 percent of the digital submissions for the Model Insurer awards were focused on delivering new portals. Of these, approximately 55 percent were focused on improving the lives of partners across the value chain. Efficiency, compliance and reducing NIGO rates were all quoted as key drivers. Additionally, paperless straight-through processing (STP) remains a very real goal, while e-signatures also were on the rise.
Unigarant is an example of this efficiency, as it implemented automatic claims handling, from online claims registration through to the close, including executed claim payments with full STP.