Competition is steadily increasing in insurance. In many segments, products have become so similar that internet comparison sites are the preferred way to shop. This drives commoditization which threatens insurers’ health. Companies who want to survive and thrive need to get new products to market faster, develop new insights to better price risks, and reimagine their customer’s experience. Smooth information flow is the key to all of these, but few insurers have IT systems that support desired work processes and enable rapid change to keep pace with market conditions. Appian BPM for Insurance can quickly address key challenges within core systems and address gaps between them.
Appian BPM addresses challenges in core insurance processes including:
- Policy and Administration: Hiccups in onboarding and account servicing lead to customer churn. BPM coordinates departmental processes and systems to deliver frictionless service and lower churn.
- Underwriting: Independent Agents get frustrated with slow turnaround of quotes, no visibility into the application process, and limited ability to speak directly to underwriters. Use mobile BPM to make your agents’ lives easier.
- Claims Management: Paying claims quickly and accurately keep loss ratios down, makes customers happy, and keeps profits steady. Information gaps inhibit this. Forward-thinking insurers have adopted BPM to close gaps and shorten process cycle times.
- New Product Development: Getting new products to market quickly staves off commoditization. Appian BPM overcomes system hurdles and increases collaboration, speeding time to market without ripping and replacing core systems.
Read our insurance white paper to learn more.
Featured Insurance Customers
With Appian, Crawford has the process visibility and control needed to guarantee that the right contractor is assigned, that the repair workflow proceeds smoothly, that service quality meets the high Crawford standards, and that proper internal and customer reporting occurs at every stage. Learn more »
TIO's Appian BPM-based Claims Management solution has been heralded as the most successful technology rollout in the company's history – delivering a $10M (AUD) ROI in 12 months. Learn more »
Vermont Mutual is modernizing its IT infrastructure through Appian, using BPM as the new way to develop business applications. The BPM program is part of an overall vision to increase competitive agility, enhance customer engagement, transform operations through mobility, and reduce costs. Learn more »
