In an evolving market filled with disruptions and new challenges, insurance firms are facing an ever-increasing demand for enhanced business and operational outputs. Drive efficiencies, streamline services and increase your ROI with Cortex’s unified Intelligent Automation platform today.
Challenges Facing the Insurance Industry
- 24/7 expectation, caused by the ‘Amazon Effect’
- Streamlined Delivery
- New disrupter Insurers
- Increasing Costs
- Complex Fraud
- Tougher Regulations
- Legacy Technology
- Outdated Procedures
- Error-Prone Manual Processes
- Self Sufficiency
Service Orchestration to Transform the Insurance Industry
Service Orchestration and Process Automation directs optimum actions to achieve your business objectives powered by Cortex automation software. Cortex’s unified platform orchestrates the threads of the insurance process together in a data-driven environment to meet your goals. Let Service Orchestration technology can transform your business today.
Intelligent Automation for Insurance
Cortex’s intelligent platform can span across your organisation and be applied to your insurance processes. Key areas for consideration for automation include:
Automation for Claims
Critical in ensuring an insurers’ ability to protect customers in times of distress, without impacting a firm’s financials, automation for your claims processes means that your organisation can reduce the cost of claims and customer attrition.
Automation for Adjudication
Streamline your business with automated Claims Adjudication by Cortex, to improve accuracy and efficiency, reduce claims leakage and distribute balanced workloads across the organisation.
Automation for IT Operations and Enterprise Services
Transform your business services across departments including IT, Finance and HR. With Cortex’s unified platform, you can address line of business challenges.
Intelligent Automation Opportunities
Augmenting existing systems, Cortex deploys rapidly and puts change in the hands of the business owners, so that incremental, transitional, and transformational change is low cost, low risk, and highly effective.
Organisations with existing operations and fragmented systems are transformed into highly efficient automated end-to-end processes. Cortex uniquely supports orchestration of systems and services, automation of tasks, user interactions and self-service.
Improving Customer Service:
Enhance the customer onboarding process, including automated service intake and processing, attrition management and deliver outstanding client communications with Intelligent Automation software.
Refine Your Underwriting Offering:
Automated data and insights from the automation are provided on the Cortex dashboard. This information can enable you to improve your firm’s risk quality prediction and adjust your pricing models accordingly.
Speed up processes with automated renewals, automated cancellations, mid-term processing and continuous underwriting of policies.
Analyse Fraud Insights:
Enjoy complete confidence in our fraud analysis and reporting, allowing you to minimise risk, make huge savings and improve your service offering in response.
Increasing Operational Effectiveness:
Capturing, refining, and automating business processes increases accuracy and reliability. Organisations benefit from increased scalability and flexibility of business operations.
Automate your claims intake processes and reduce business risk with effective fraud management.
Enjoy automated data preparation, regulatory reports and deviation management that future proofs your business.
Accelerate Digital Transformation in Insurance
Increasing competition is driving more creative methods to improve Banking, Financial Services and Insurance operations.
Technology innovations and the rapid move to digital ways of working are creating new market opportunities. To remain competitive, organisations must rapidly deploy new operational processes efficiently to support the evolving business.
Organisations require improved agility, performance and reliability with their operations, and must address the ever-present reduced cost pressure.
Unlike traditional methods of automation, Cortex brings three decades of advanced process control knowledge and technology to business and Insurance processes. Providing a graphical, intuitive, no-code, user interface the Cortex Intelligent Automation Platform enables business stakeholders to directly capture and manage new and existing operations with the process owners, not IT, at the heart of the automation.
The Benefits of Intelligent Automation For Insurance
Retain strategic control and management as you deliver zero-touch operations with Intelligent Automation. Insurance market benefits include:
Taking RPA to the Next Level
Does your insurance firm employ RPA tools to automate basic tasks? Cortex’s intelligent platform goes beyond Task Automation to give you Service Orchestration. The software seamlessly integrates with your existing processes, tools and systems, evolving your operations and automation journey. Our software provides data-driven and strategic service orchestration, allowing your business to oversee an end-to-end outcome that will achieve your goals.
Designing Your Insurance Strategy & Methodology
In order for your business to succeed at automation, you’ll need a defined strategy and methodology applied to your project. Understand the role automation will play in your firm and identify how it can integrate into your existing ecosystem. To get started on a strategy that will transform your business, speak to our specialists today!