One of the most effective ways to enable profitability growth is through the effective use of innovative technologies. Yet, implementing technology can challenge budgets and resources. How do you determine which technologies are worth the investment today and which ones deserve a strategic "wait and watch" approach?
EGS’s Global Insurance experts help companies assess technologies, their effect on the organization, and the benefits that can be achieved, answering the question "Is the investment worthwhile, now?" If so, EGS is well positioned to handle or facilitate the implementation of technologies that prove to be of value.
While Mobility is quickly becoming table stakes for
insurance carriers, implementing mobile solutions successfully
requires more than simply providing downloadable apps to
employees, agencies and customers. EGS helps insurance carriers
take a strategic approach to their mobile offerings, ensuring
that these offerings truly enhance the user experience, provide
functionality that users want, while leveraging on the
capabilities of the device.
EGS works with carriers to take advantage of Big Data / Analytics predictive modeling for a wide variety of business activities, including underwriting, marketing, claims and risk management. During the underwriting process, analytics provide guidance to underwriters to improve risk quality assessment and optimize prices. EGS’s Data experts supports carriers to identify customers who are most receptive to cross-sell offers or those most likely to defect. This pre-analysis, by a talent pool of IT Insurance Experts from our EGS’s Center of Excellence - Big Data, helps carriers proactively reduce fraud by detecting potential fraud earlier in the process and by detecting otherwise hidden patterns of fraud.
EGS’s Modern Core Systems helps carriers take advantage in Regulatory Automation over their peers working within the confines of legacy environments. EGS’s Modern Core Systems, based on business rules or workflows rather than hard-coded instructions, are much easier to maintain and change as regulations morph.
Most of the carriers provide a robust portal environment that provides functionality to Agents, including uploading applications, quick quotes to bind and issue endorsements, quick-and-easy access to appetite guides, and proprietary rules and forms. EGS’s real-time upload and download functionality to agency systems help carriers work with large insurance agencies that represent multiple carriers.
EGS’s social media tools improves collaboration and improves decisions and processes both internally with carriers and externally with distribution channels. Social Media is about helping people connect. Consumer and agent expectations for connection have been established through social media tools that provide an opportunity for people to collaborate and share information. Social media tools such as Facebook, LinkedIn and Twitter are frequently used in marketing to drive brand awareness and connect with customers.
EGS’s Global Insurance Services has the expertise and solutions in all of the aforementioned trends. EGS helps you assess your needs, then plan, build and manage technology programs that match those needs. EGS works with you, in a collaborative fashion. Our IT Insurance Specialists from EGS’s Center of Excellence determines the best value addition solution that you should add now and position you for the future.