Insurance Ecosystem Networks: Game-Changer or Fad? | SimpleSolve
SimpleSolve Blog
by Brajesh Ugra
2w ago
Recent actions by regulators, like the National Association of Insurance Commissioners (NAIC) and state insurance departments, signal a move toward stricter consumer protection measures. There's an increasing emphasis on transparency, product suitability, and fair treatment of policyholders. This shift is steering the industry away from the old playbook of competing solely on cost, pushing insurers to demonstrate that their offerings are not only competitively priced but also genuinely beneficial to consumers ..read more
Visit website
Securing Online Payments: Key Technologies for PCI DSS v4.0 Compliance | SimpleSolve
SimpleSolve Blog
by
1M ago
More than 50% of consumers prefer digital wallets over traditional payment methods like cash or swiping a physical card (Forbes Advisor). This shift leaves the insurance industry more exposed to cyberattacks than ever before. The urgency for stronger digital payment data security solutions has never been clearer.  ..read more
Visit website
Are AI Virtual Assistants Becoming Key Players in Insurance Operations | SimpleSolve
SimpleSolve Blog
by Barbara Schwarz
1M ago
In the insurance industry, rising customer expectations are pointing to an increased demand for more self-guided interaction with providers before they get handed over to human support in the final lap. Conversational AI virtual assistants using Generative AI as their backbone are transforming how insurance companies handle both customer engagement and internal operations ..read more
Visit website
Are Insurers Fully Tapping Into the Hidden Potential of Their Historical Data? | SimpleSolve
SimpleSolve Blog
by Chandra Mouli
2M ago
Data has always been the lifeblood of the insurance industry, driving decisions, pricing, and risk management. Insurers are sitting on a goldmine of historical data—rich in insights that could transform their strategies. Much of the value of their historical data remains untapped, trapped within models that no longer meet the industry's current demands. These models typically focus on linear projections based on past trends, which can fall short in today’s rapidly changing environment ..read more
Visit website
How Adaptive Software Platforms Are Changing the Game for Insurers
SimpleSolve Blog
by
2M ago
Insurance companies are breaking free from outdated legacy systems and turning to insurance software solutions that are adaptive to stay competitive in today’s digital world. This shift is driven by the open architecture these solutions use, very different from proprietary software that is built on rigid frameworks ..read more
Visit website
Is the Dilemma of Build vs Buy Insurtech Solutions Still Relevant | SimpleSolve
SimpleSolve Blog
by Brajesh Ugra
3M ago
AI and machine learning are now pivotal in reshaping how insurers operate— they push up the efficiency factor, positively impact efficiency, personalize services, and improve customer interactions. With the digital wave that has only been surging and the phenomenal rate new technology is emerging, AI-driven platforms have become increasingly sophisticated and essential ..read more
Visit website
AI and Insurtech: Cutting Customer Acquisition Costs for Small and Mid-Size Insurers | SimpleSolve
SimpleSolve Blog
by Barbara Schwarz
3M ago
For insurers, high customer acquisition costs can strain financial resources, reduce profit margins, and limit the ability to invest in essential areas such as customer service and product innovation. Reducing insurance CAC is becoming tougher because digital marketing is very competitive, customers expect personalized experiences, and regulatory requirements are becoming more costly to manage ..read more
Visit website
Why Insurers Need to Prioritize Better Vendor Risk Management | SimpleSolve
SimpleSolve Blog
by Manikandan Natarajan
4M ago
Effective vendor risk management is crucial as insurance companies increasingly turn towards outsourcing for technology and services. While outsourcing helps access advanced technology it also introduces challenges, such as increased regulatory scrutiny. With an increasingly interconnected digital landscape, malicious actors frequently exploit vulnerabilities in an organization’s network and this could include its vendors and third parties.  ..read more
Visit website
The Crucial Role of Business Culture in Insurance Software Vendor Partnerships | SimpleSolve
SimpleSolve Blog
by
4M ago
An insurance technology vendor walks into the boardroom of an insurance company. They're armed with innovative solutions promising to revolutionize the insurer's operations, enhance efficiency, and boost profitability. Excitement fills the air as both parties anticipate the potential for transformative collaboration ..read more
Visit website
Insurance Will Soon Say Farewell to These 3 Tedious Tasks | SimpleSolve
SimpleSolve Blog
by Chandra Mouli
5M ago
Ever since we figured out how to make wheels, we've been all about automating stuff to make life easier. The cost of automation and digital technology has declined globally in recent years. Insurance carriers, irrespective of size are realizing that the barrier to new investment in digital technology and automation is lower than ever before.  ..read more
Visit website

Follow SimpleSolve Blog on FeedSpot

Continue with Google
Continue with Apple
OR