Insights from The Lab


Category: Insurance


Life Insurance Carrier: Standardization and Automation Boost Employee Productivity, Policyholder Experience

The Client This company is a leader in life insurance products for direct-marketing channels in North America. A subsidiary of a top-ten global multiline insurance company, this subsidiary was built through acquisitions. Although operations of the acquired insurers were consolidated and centralized, their brand identities were maintained for marketing and sales. The scope of the …

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Automate insurance policy-renewal and lapse-notification processing

Insurance brokers: Save 15-20 minutes per letter when processing policy-renewals and lapse-notifications   Implement insurance bots to prevent lapses and increase policy renewals—sending thousands of letters a day! Notifying your policyholders that their policies are due for renewal is a massive challenge for your insurance brokerage. This isn’t a one-time thing. It’s an everyday, tons-of-manual-effort thing. …

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Robotic Process Automation for Insurance: Direct Bill Commissions Reconciliations

Do you really still have people performing these rote, error-prone chores? “Reconciliation” is just a fancy word for “making sure things match.” It’s an essential  cross-checking chore that can be found in all industries. In insurance, you need to make sure that numbers from one source—say a carrier’s commission statement—match those in another—such as your …

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By The Lab Consulting Business Intelligence in Insurance Insurance Standardization

Life Insurance Carriers KPI Handbook from The Lab

This catalog contains over 300 KPIs. But which ones are the “Super KPIs” for your company? Key performance indicators (KPIs) are essential for monitoring, managing, and profitably growing your organization. Yet there are lots of life insurance KPIs. This catalog, compiled by The Lab, contains more than 300. That certainly seems overwhelming. Where do you …

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