Business and Customers in Insurance have several demands while the industry still has a lot of catching up to do in terms of technology. Fortunately, it is possible to the demands from the different stakeholders do relate when you give them a good look. IT can create a thorough solution when improving contract composition and delivery, and preparing for Mobile enablement. Another great side effect is that the organization can benefit from cost reductions in printing and archiving.

1. Challenges in Insurance
rely on IT
July 2015
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2. Observation
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The insurance industry has some catching up to
do in order to operate to today’s standards.
This would originate from the financial crisis
(still) and, so have observed researchers, from
the conservative attitude the industry would
have cherished for too long. And, insurers are
often divided into autonomous silos.
In the coming years the insurance industry should
be investing in software and infrastructure to
keep up with the economic digital pace.

3. Main challenges
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• Customer:
 Help me faster in high-stress times
 Reduce paper work
 Speed up administration & communication
• Internal Customer:
 Accelerate customer acquisition
 Enable high-quality customer service
 Improve archive & search
• Management:
 Reduce operational costs

4. the Challenges are related …
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Help me faster in high-stress times
Speed up admin & communication
Reduce paper work
Accelerate customer acquisition
Enable high-quality customer service
Reduce operational costs
Customer Business
Management
Improve archive & search

5. ... the Solutions are scalable
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Help me faster in high-stress times
Speed up admin & communication
Reduce paper work
Accelerate customer acquisition
Enable high-quality customer service
Reduce operational costs
Contract Composition Contract Delivery Mobile Enablement
Improve archive & search

6. Contract
Composition
observations
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• Mainly a strictly IT-owned operation, whereas
customer relations lie with the business
• Often manual work, thus implies human errors
and time-consuming work
• Different policy departments have specific
requirements, but do share some T&C
• Changes to a contract can take a long time
which interrupts the negotiation phase

7. Make contract composition efficient
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• Standardize where you can: design templates without programming
• Manage a ruling repository of all cross-policy clauses
• Integrate the repository with a user-friendly contract assembler
• Easily create an approval flow and insert modification alerts
 Business users enablement
 Faster contract finalization
 Contract accuracy
 Keep control

8. Interactive Document Assembly
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• Compose contracts easily by using flexible text blocks
• Secure critical content with modification alerts in the approval flow
• Authorize internal customization in restricted areas
Differentiating features: Comparing and Versioning
Compare customer profile data with the document you’re working on
Compare two quote versions to show the impact on the customer offer
Compare your quote to the final contract offer

9. Contract
Delivery
observations
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• Many contracts are still on paper
• The digital customer’s channel preference is
ignored
• Finding historical customer or other info takes
a lot of time
• Printing, sending and archiving costs are a
considerable burden to the budget

10. Make contract delivery efficient
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• Digitalize where you can
• Sign contracts digitally
• Deliver communications via email, online, archiving and other channels
(on paper is still possible)
• Increase response rates by 65% by selecting the channel(s) of your clients’
preference
 Faster delivery
 Improved archiving
 Better customer interaction

11. Multichannel Delivery
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• Compose contracts easily by using flexible text blocks
• Secure critical content with modification alerts in the approval flow
• Authorize internal customization in restricted areas
Differentiating features: Multibranding & Multilingual
Make your brand or policy silo consistent across all communications
Give your brand or policy silo a high-qualitative output
Make your brand or policy silo unique

12. Mobile
Enablement
observations
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• “The insurance industry will be driving on a
bumpy road,” say researchers
• IT in insurance would be too conservative (is
that so?)
• The industry wants to invest in software and
needs valuable technology partners for support
• Mobile enablement is a strategic decision

13. Will you be the early adaptor?
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• People and businesses are becoming digital and Mobile facilitation is one
of the upcoming trends.
• Mobile is a reality and digitalization is a step in the good direction.
• Mobile can mean many things:
online services
dynamic communications
a mobile app
…

14. Mobile opportunities
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Example 1 – claim handling
Due to a storm a tree damaged the customer’s building. The customer takes his mobile device,
opens the app, takes a few pictures, fills out a claim form and sends it to his insurer. This
enables the account owner to understand the problem, do the necessary administration and
send an expert equipped with a mobile device with which he can add his professional
observations and reporting to the claim.
Example 2 – client onboarding
The sales person or agent can go to the customer (no matter where he is), go through the policy
of his choice, make some adjustments, send an offer or – ideally – have contract signed at the
end of the conversation with his customer.

15. Cost Reduction
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• Drastically reduce printing, sending and
archiving costs
• Consider a balanced combination of
standardization and flexibility will prevent
errors soiling millions of contracts
• Save time and money by authorizing the best
function in place to compose contracts,
someone who knows the customer
• Faster customer acquisition means less sales
costs and more revenue in the same time
frame

16. More info? Contact us:
EU phone: +32 3 425 40 00
US phone: 011 32 3 425 40 00
email: info@scripturaengage.com
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