Insurance

All you need to know about standardization, automation, and digitization for the insurance industry!

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.

A U.S. Top 15 P&C insurer recently sought to accelerate end-to-end (E2E) standardization from first notice of loss (FNOL) through subrogation. In just eight weeks, they were able to map all the processes and identify opportunities for reducing their expense and loss ratios.

Key performance indicators (KPIs) are essential for monitoring, managing, and profitably growing your insurance brokerage. 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.

Your insurance company's employees are its greatest assets. Yet the Great Resignation is testing operations resilience like never before. You need to leverage every person-hour of capacity. You need to weed out every wasted keystroke. You need to automate every task that can be automated. And you need to make each worker’s job higher-value and more fulfilling, to retain your high performers. The Lab cannot change what’s happening in society. But we can help you achieve all of the above. In just months. And we make it easy for you.

Processing policy cancellations is an insult-to-injury chore for any insurer: You’ve got to pay your staff to process policyholders who are leaving you. There’s a much better way: Automate this activity, in just weeks, with RPA bots from The Lab. Check out how we can help you do it, in this fast-read article—replete with embedded two-minute video of the bot in action!

Let The Lab help you standardize your insurance knowledge work! Unlock the power of robotics & AI Harness advanced analytics Turbocharge productivity If you’ve been tasked with bringing your insurance knowledge-work...

Your insurance operations have literally hundreds of opportunities for robotic process automation or RPA. Claims, policyholder services... you name it.   You need to get automated, fast. But if you haven’t tried, it can...

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...

The recently-hired COO of a large, successful, third-generation, family-controlled insurance brokerage struggled with a range of frustrating challenges. Challenges to the face-to-face mode of doing business seemed to grow larger with every passing year—even for the sales team. The COO understood the essential role of personal, “manual” effort in client sales and service interaction.

The company had made substantial investments in efforts to attract and retain new CSRs. Base compensation was increased significantly. Incentives for reinstatement specialists were doubled and payout cycle times slashed. Technology modifications to a recently deployed call-processing system enabled work-from-home and flex-time schedule options for all reps who successfully completed their training and a brief probationary period. Yet the insurer’s senior leadership team was frustrated at the continued CSR shortage.

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....

Answer: Tons more than you might think! You’ve probably heard a lot about business-intelligence, or BI, analytics. It’s also known as “advanced analytics” or simply “dashboards.” If you work in insurance, specifically...

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, it’s the bedrock for every must-do initiative on your strategic...

Automate new insurance client lead generation at massive scale—pinpoint & cross-sell prospects Prioritized from your existing data plus external demographics Custom-tailored to your agency’s or brokerage firm's...

The Lab’s patented Nano-Scale Standardization™ methodology helps a leading insurer supercharge their automation initiative with robotic process automation or RPA, achieving breakthrough gains in agent sales, operating productivity, and...

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