Every day we hear paradigm changing examples of how big data solutions are revolutionizing the delivery of highly personalized customer experiences in a fraction of the time it used to take. Whether it’s in claims processing or underwriting, this shift is being driven by organizations changing from traditional linear, and often disjointed, workflows to a real time digitized customer-centric service model.
But the rapid deployment of these data-driven insights are often a challenge for an organization’s IT and technology teams. Most company’s BI systems are built to provide insights for consideration instead of insights for transactional integration into existing systems. Another challenge is around the need to make these changes while attaining/retaining operational excellence within the organization.
In this session, you will learn:
· Why your BI solutions are falling short and are not able to drive loss ratio and expense reduction effectively
· What can be accomplished by extending your existing systems and ways to lay the foundation for the future
· The value of committing to operational excellence to ensure digital transformation success
· The difference between Insights for Consideration and Insights for Transactional Integration. Then;
o How a leading edge transactional integration example works for claims
o How a leading edge transactional integration example works for underwriting
· Why traditional IT approaches struggle to provide rapid insight deployment and solutions