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8 Ways to Win Against Next-Gen Insurers

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The insurance industry is at a tipping point: A next-generation of insurer is disrupting traditional business models by building future-proof business systems that power superior customer experiences and generate new revenue streams.

With the proper application of technology and information, traditional insurers can quickly adapt to changing industry dynamics and win against these next-gen insurers.

This on-demand webinar will explore how to:

Reinvent traditional insurance products and services
Drive customer experience improvements by unlocking more information and using it faster
Mitigate risk and ensure successful modernization efforts
Discover how traditional insurers can win more business by delivering customer-centric underwriting, policy administration, and claims management applications faster than ever.

Published in: Technology
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8 Ways to Win Against Next-Gen Insurers

  1. 1. Eightwaystobeat next-geninsurers UriKogan VicePresident, ProductMarketing
  2. 2. Agenda 2 01 03 02 Next generation insurers do 8 things differently – and you can too Reinventing Policy Administration , Underwriting , and Claims Questions04 Overcoming the obstacles to change
  3. 3. 8waystothink different
  4. 4. #1 Firstprinciples thinking.
  5. 5. Don’tbetrapped bydogma,which islivingwiththe resultsofother people’s thinking.” – Steve Jobs
  6. 6. “WhatbusinessproblemamItryingtosolve?” “Ifsomeonewereinventinginsurancetoday, whatwoulditlooklike?”
  7. 7. #2 Yourcustomeris hyper-connected.
  8. 8. Let’sautomate theprocess! 8
  9. 9. #3 Extendthevalue prop,butdon’t reinventthewheel.
  10. 10. Airplane Car Hotel
  11. 11. #4 From price&product toexperience.
  12. 12. Fromthecustomerperspective,theexperienceisoftena singlejourney.Customersareunlikelytodrawasharp distinctionbetweenanagentandaclaimsadjuster.” –McKinsey&Company Atypicalinsurancecarriertodaydeliverscustomer experiencesviaseparatefunctions…managedbydifferent executiveswithdifferentgoalsandmetrics.
  13. 13. #5 Everyoneisyour competitor.
  14. 14. #6 Smarternot harder.
  15. 15. Neverleta crisisgoto waste. 17
  16. 16. #7 Embrace information everywhere.
  17. 17. Don’tfightthe proliferationof content. 19
  18. 18. #8 Modulesnot monoliths.
  19. 19. Assemblesystemsfromfunctionalservices
  20. 20. Overcomingthelegacy burden
  21. 21. Next-gencore insurance processes
  22. 22. Policyadministration
  23. 23. Underwriting
  24. 24. Claims
  25. 25. Thankyou& Questions Learn more: nuxeo.com/fiserv @nuxeo

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