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Insurance

Cigniti

5 Opportunities that the Metaverse Brings to the Insurance Value Chain

The metaverse is steering the next wave of digital transformation, which will provide insurers with powerful technology tools for differentiation as well as challenges to navigate. In the years ahead, the rise of the metaverse will begin to influence every facade of insurance, from the workforce experience to distribution, marketing, products, revenue pools, and operations.

Cigniti

Fraud Detection in Insurance Claim Process by Using Artificial Intelligence

One of the biggest preventable losses that hurts insurers worldwide is fraudulent insurance claims. The P&C segment accounts for the most fraudulent insurance claims, with auto insurance and workers’ compensation making up the biggest percentage of fraudulent claims that have an annual impact on the insurance business.

Cigniti

How Are the Latest Technologies Changing the Insurance Industry?

In current times, no industry can survive without adopting relevant technologies, and the insurance industry is no exception. Technology plays a vital role in the insurance industry. Technology is redefining the way traditional insurance business is being done and driving smart reinvention of workflows. Technology is now part of all the stages of the insurance life cycle, right from the policy advice stage to claim settlement.

appian

How to Identify Automation Opportunities in Order-to-Cash with Process Mining

Insurance companies, like those across many other industries, struggle with systemic issues brought on by disjointed, outdated core technologies. To help minimize the strain disconnected systems can cause, Appian invests in experts with years of first-hand experience to deliver digital solutions that can increase efficiency and improve the customer experience.

Cigniti

The Impact of Digital Transformation on the Insurance Industry

Whether a company is small or large, digital transformation is essential. Every lecture, panel discussion, article, and study about how firms can stay competitive and relevant as the world gets more digital makes that point loud and clear. Many corporate leaders are unsure of what the term “digital transformation” actually entails. Is it merely a memorable way of saying “going to the cloud”? What concrete actions do we need to take?

appian

Prioritize Claims Process Automation and Reap the Rewards

In their recent report on insurance services, ISG outlined the everlasting impact of COVID-19 on the insurance industry: “greater adoption of online and omnichannel distribution, cloud platform services, and analytics to cope with the crisis and to prepare for new ways of operating and serving customers.” With more emerging players entering the insurance market and insurers recognizing the need for providing a digital experience, consumer demands for a connected insurance experience have gr

Unlocking the Power of Connected Insurance

To stay ahead of today's rapidly evolving technology landscape and skyrocketing customer demands, insurers need to transform their digital ecosystem to deliver an omni-channel, connected insurance experience. At this year's InsurTech Insight conference, Gijsbert Cox, Insurance industry lead at Appian, hosted a session to discover how to deliver the connected insurance journey today's customer's demand while increasing efficiency and profitability.

How IoT is Revolutionizing the Insurance Sector: Use Cases and Benefits

IoT apps are linking the globe in ways it has never been connected before. The use of IoT apps has increased dramatically in the healthcare, insurance, and automobile industries. IoT apps' ability to detect, analyze, and assess real-time data via IoT sensors and devices is assisting the insurance industry tremendously in providing better insurance services, says Ashis Kumar Rout, Associate Principal Consultant, Cigniti Technologies.
Cigniti

How IoT is Revolutionizing the Insurance Sector: Use Cases and Benefits

Traditional businesses are projected to be disrupted and revolutionized at an unprecedented rate as the Internet of Things (IoT) emerges. These new technologies have the potential to benefit the insurance business, which has been hesitant to adapt in the past. Before we get into how the Internet of Things will affect insurance, let’s define what we mean by “IoT” in this context.