Insurers must tackle this by enhancing their ability to interact with policyholders digitally via collaboration platforms

Deploying chatbots can help manage volume and maintain quality of interactions; customer sentiment analysis and artificial intelligence (AI)-assisted conversations can augment service representative performance

Digitizing claims intake, policy processing and claims triage using RPA & AI is a must-do to ensure higher levels of customer experience at an optimal cost

Leverage AI to automate claims assessment & routing based on fraud patterns

Leverage Low Code/ No Code platforms to build applications in weeks at almost 1/10th the cost of traditional application development

These platforms further lead to creation of citizen developers - to address the issue of lack of skilled resources & developing applications with a strong combined sense of business & IT

Accelerate cloud deployment for virtual desktop infrastructure connectivity into major application portfolios

Companies not running policy, billing and claims in the cloud (software as a service or platform as a service) should consider enabling a hybrid cloud solution to address connectivity for the extended value chain, including agents, physicians and other carriers