10-12-2020 Blog: Claims Transformation to Reduce Operational Cost and Meet Policyholder Expectations

Claims Transformation to Reduce Operational Cost and Meet Policyholder Expectations October 12, 2020 | Prashant Tekchandani and Prateek Vijayvergia Rising claims cost and evolving customer preferences for personalized policies and omnichannel interactions are putting auto insurers under intense pressure. Recent studies have concluded that accident-related auto repair costs have risen significantly, undercutting profitability and worsening… Continue reading

Powering Insurance Transformation

Powering Insurance Transformation Brokers, MGAs/MGUs, insurers, and reinsurers all face market and product challenges, fast-evolving customer expectations amid changing demographics, compliance considerations, legacy technology limitations, cost pressures, and an increasing scarcity of domain talent. As a global consulting, technology, and managed services partner to the insurance industry, Xceedance provides strategic operational support (SOS) for front,… Continue reading

A Novel Approach to Credit Analysis for Surety Insurers

A Novel Approach to Credit Analysis for Surety Insurers In this paper, we will delve into operational and technological roadblocks that the surety industry faces, and the role centralized credit analysis can play in advancing the business of surety insurance. We also evaluate how technology tools such as advanced visualization and data analytics can simplify… Continue reading

Reimagining Commercial Lines Underwriting Workflows

Reimagining Commercial Lines Underwriting Workflows The heterogeneous and complex nature of commercial exposures, the quality of the data needed to support the risk pricing, and scarcity of new talent – all pose a challenge to smooth adoption of new-age technologies. This paper examines reasons why automation of commercial lines underwriting processes proves difficult and discusses… Continue reading