Insurance
Brokering efficiency and effectiveness to innovate and renew value
Overview
Agents of change driving transformation in insurance
Customer experience is the most important commodity in the insurance industry. Powered by digital transformation, insurance organizations have made strides with modernizing legacy systems and applications, automating claims processing, and filling their IT talent gaps with intelligent workforce solutions.
An end-to-end customer experience that improves the retention of current customers and attracts new customers with innovative products and services is key to keeping competitive.
Automation transforms insurance processes
CAI helps insurance companies define intelligent automation initiatives to transform the way the industry processes claims, underwriting, pricing, and collection.
Cloud solutions to scale up digital transformations
Insurance providers partner with CAI to transform legacy systems with application rationalization and modernization solutions that support cloud migration and automation opportunities.
Retain and recruite IT talent
Recruiting, hiring, and training are supported by CAI as insurance organizations work to fill IT positions in software development, software testing, and IT operations.
What We Do
Property and casualty insurance
Readiness to adopt digital technology
Digital technology is transforming every aspect of the property and casualty (P&C) insurance industry. The shift from products and processes to personalized customer experience is powered by modernized applications and automation to support efficiency and faster transactions for consumers.
CAI helps bridge the gap from legacy systems to an innovative infrastructure that fosters comprehensive, customer-centered strategies.
Chatbots to enhance customer experience
Chatbots engage with customers via voice or text to help with understanding policy options, personalized policy recommendations, and plan comparison. CAI helps insurance companies implement chatbots to improve sales and marketing, underwriting, claims processing, and customer service.
Personalization through telematics
Insurers use telematics data to offer personalized driving feedback, safe-driving rewards, or potential cost savings on automotive insurance policies. CAI helps organizations deploy modern applications that enable telematics—allowing carriers to more effectively manage risk and make use of complex customer data.
Automation in insurance claims processing
Insurers can use automation to reap the benefits of fewer mistaken payouts or denials, improved data accuracy and integrity, improved risk management and compliance, and faster turnaround times. CAI helps identify and implement automation opportunities to connect applications and work with legacy systems.
Claims process automation features
CAI helps clients realize their need for comprehensive claims processing that serves all customer coverage areas with:
- Highly detailed matching before authorization
- Complex error tracking and resolution
- Claim capture from any channel
- Live monitoring of claim operations and system performance with automatically-generated audit trails and dashboard analytics
- Extraction of multiple data irrespective of field form and position
- Integration of all claim-relevant data sources, systems, and formats
- Any type of professional or institutional claim supported
- Automated claim verification based on highly configurable rules
Life insurance
Technology drives the future of life insurance
Growing industry competition and heightened customer expectations have transformed life insurance from a one-on-one, personal application process to contactless policies and digital delivery of services. Traditional payment models are being disrupted by simple and user-friendly digital options that prioritize convenience and speed. CAI enables insurers to maximize efficiency and make informed enhancements with predictive analytics and artificial intelligence (AI) tools, proven methods for reducing risk, and operational improvements.
Executing seamless digital payments
Customers expect digital payment data to automatically sync across devices and channels. CAI works with insurers to connect and engage policyholders through a simple, frictionless payment transaction experience.
Identifying fraud and vulnerability, reducing risk
Managing cybersecurity and identifying potential fraud are some of the most important actions to solidify customer adoption. CAI helps insurers implement new technologies to enable robust security measures and analyze large transaction systems to spot suspicious activity.
Prioritizing operational efficiency
To deliver the omnichannel digital experience that customers and agents expect, CAI streamlines operational processes and connects new development to reduce risk, increase efficiency, and improve customer experience.
Client success spotlight
Amerisure Insurance partners with CAI's RPA team to improve efficiency and better utilize employee resources.
26.5 hours
The bot has been able to condense 26.5 hours of human work into one day
3x ROI
The bot exceeded expectations by saving 8 “human hours” by 3 times
1 FTE
The bot removed 1 full-time job, freeing up a resource for value-added activities
1 of 27
CAI discovered 27 process automation candidates but narrowed it to 1 with the best ROI
Insurtech and reinsurance
Opportunities with predictive analytics and machine learning
Insurtechs are collaborating with reinsurers to modernize legacy systems and understand the complexities of the traditional insurance model. Using predictive analytics, insurers can gain a competitive advantage that saves them time, money, and resources, while helping them plan for future outcomes. CAI helps clients identify inefficiencies across the value chain, reduce operational overhead, and adopt digital technologies to manage big customer data and better leverage their assets.
Predictive analytics and machine learning
Implementing predictive analytics and AI starts with a critical dependency: rationalizing data. CAI understands the data challenge and helps insurers manage data to realize the value of predictive analytics and AI.
Digitization to deliver new capabilities
Leading insurers are using advanced technologies, including cloud, and conversational platforms, to transform operations and customer relationships. CAI works with insurers to modernize their legacy systems and identify opportunities for new solutions.
Automation for operational processes
Insurers have a high number of standardized processes, each with potential for automation. CAI helps insurers discover opportunities in their current workflow and implement solutions to improve operational efficiency.
Client success
Enhancing internal systems with CAI
CAI offers a global insurance provider professional aid for optimizing its ServiceNow platform.
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Financial technology company gains efficiencies with automation
CAI works alongside a growing financial technology company to improve business processes and establish a foundation for future automations across the business.
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Streamlining operations for a healthcare provider with RPA
With automations successfully built, deployed, and migrated, a healthcare company is better able to serve its customers in an efficient manner.
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