Recently, we co-hosted a webinar with Alfresco, entitled “Automating content-centric processes in Insurance”. We often hear from our Insurance customers what are their main drivers for systems modernization.
The high-level driver for the transformation is the evolution of the market and the evolution of the customers: insurers have to deliver products and services quickly and they need to reinvent itself with major revisions in operating models, document processes, value propositions and customer relationships.
According to Accenture’s report, the new insurance customers are better informed and more demanding. They are more:
Insurers are fully aware that their legacy technology is outdated, and they have tried several approaches to improve the claims process. Traditional claims processing is highly manual, time consuming, and error prone process. Many insurance companies are plagued by long processing times and process inefficiencies, which often lead to unsatisfied customers.
During the webinar, Xenit and Alfresco discussed common challenges in today’s claims processing, including:
- High operational costs: claims processing is still based on manual and/or paper processes, such as data entry or data gathering, leading often to errors, operational inefficiency, and greater costs.
- Lack of integration with legacy systems: desperate tools and platform, unavailable in real time, with the inability to digitized unstructured, often paper based content and lack of automated checks that lead to incomplete information and delays.
- Compliance and regulatory risks: New policies and rules are constantly being introduced, making it difficult to keep up with changing regulations while executing efficient processes.
HOW ALFRESCO CAN HELPAlfresco offers a complete content management system to seamlessly & efficiently orchestrate front-to-back-office customer on-boarding processes, accelerating claims processing and improving compliance and operational efficiency. It includes content management, process design & orchestration as well as governance in a single cloud-native platform.
Watch the recording of the webinar to discover a faster way to automate claims servicing by ensuring process, content and governance are seamlessly combined in Alfresco Digital Business Platform.