Improve policyholder experience, while plugging costly claims leakage. Map end-to-end (E2E) processes for both knowledge-workers and policyholders—and then find the opportunities to boost revenue, reduce waste, save time, and introduce game-changing automation throughout.
The Lab knows insurance like no one else. We’re also North America’s undisputed authority for transformation-enabling standardization, robotic process automation, and advanced analytics, with all our work performed remotely by our U.S. experts in Houston. Take advantage of the thought-leading articles, case studies, and videos below. Then contact us to book your no-obligation 30-minute screen-sharing demo.
Discover the three most valuable use-case bots for your insurance brokerage, all “teamed up” in this ready-to-implement package and quick-read article. Covers policy renewals, specialty coverage, and reconciling carrier-issued commissions, too.
Read how this Top 20 U.S. brokerage was able to overcome its “manual sales bias” to introduce automation and drive down operating costs 18 percent, while increasing inbound leads by ten percent, and salesperson uptime an impressive 30 percent.
Discover the three underlying assumptions that stand in the way of Knowledge Work Standardization® for your organization—and how The Lab is able to overcome each one—in this informative article, complete with fascinating five-minute video.
A Top 15 U.S. auto insurer is able to save tens of millions each year by pinpointing and eliminating over-paid indemnity, with help from The Lab; read about this real-life executive-sponsored engagement which delivered 7x ROI in just 12 months.
Specialty-coverage applications—for policies such as earthquake, flood, inland marine, and more—require a load of manual labor from your Special Markets team. Learn how to automate this burdensome activity, with this article and included demo video.
How do you standardize claims data and processing from FNOL through payment and subrogation? Discover how a Top 15 U.S. P&C carrier accomplished this, while reducing claims severity by four percent, and cycle times by 15 percent, in this case study.
A leader in life insurance products for direct-marketing channels in the U.S. struggled to recruit and retain customer service reps (CSRs) for its contact-center operations. And the implications were more serious than simply long, frustrating wait times for callers. That’s because nearly half of all inbound calls involved intense efforts by CSRs to reinstate lapsed policies and avert cancellations. Although policy lapse rates had not increased, the shortage of experienced staff meant that success rates for reinstatement efforts were declining steadily. Consequently, this profitable life insurance division of a global, multi-line insurer was finding it harder to maintain its levels of in-force policies—and margins were steadily eroding.
There’s no way on earth that your insurance brokerage’s staff can send out policy-renewal notifications at 60 days, 30 days, two weeks, one week, and “day of,” without missing a single one. But bots from The Lab do it easily. Learn how, in this fascinating new article!
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....
Key performance indicators (KPIs) are essential for monitoring, managing, and profitably growing your life insurance company. Depending on what you want to accomplish, some KPIs can be transformational. With the right data and supporting automation, these “Super KPIs” give you the power to predict, preempt, and prescribe like never before. There’s more detail about “Super KPIs” right in the intro to this catalog. I think you’ll find it interesting and valuable.
This is part 2 of a 4-part-series. Find the other parts here: Part 1: How to reduce insurance claims leakage—and the loss ratio—via standardization, business intelligence, and robotic process automation (RPA) Part...
All Modern Insurance Transformations Start with Process Mapping You know that the core of any Insurance operations-transformation effort revolves around the process. Whether it’s an operational process or a customer-journey process,...