Across the industry, insurance companies are seeking ways to streamline every element of their business processes while they maintain premium dollars and pursue new business. Competition is fierce and the demand for growth presents what might seem an impossible scenario—to grow profitability and reduce expenses while increasing customer service. That can only be accomplished with the most advanced and nimble technology solutions.
The structural limitations of old dinosaur legacy systems for underwriting and policy processing have weighed down companies and left them grappling with inflexible data structures, awkward or limited integrations that are difficult to support, and a lack of rules-driven workflows. The only options require expensive customization that is time-consuming, difficult to implement and many times doesn’t work.
That is until now.