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Technology Poised to Reshape Insurance using an Omnichannel Approach

Ken Neal
by Ken Neal
January 12, 2016
BPO Bulletin

One of my colleagues, Michelle Stephens, BPO Advisor, Insurance solutions for Canon Business Process Services, shared a recent Insurance Networking News article, which points out that there are many new opportunities for insurers in 2016. The author of the article states that "The industry is in a strong financial position as it moves into 2016, but companies need to innovate and experiment if they want to stay competitive in an omnichannel world of digital-savvy consumers, nagging regulatory issues and global economic uncertainty." The author adds "…with this reality, it's no surprise that insurer's need to reinvent their strategies, services and processes."

The article also spotlights six key areas that insurers should consider prioritizing in 2016. One of the most important of these areas according to Michelle is to reengineer processes to drive efficiency and market growth. "In order to meet regulatory standards, technology enhancements and partnerships should be a key area of focus for workflow automation and streamlined processing," explains Michelle. "An omnichannel strategy can be supported by a Canon Business Process Services' digital intake center, which can support the intake from ALL channels – hard copy mail, email, faxing, and web submissions. During the ingestion process, mail is digitally classified and routed internally to the appropriate department creating efficiencies and streamlined workflow automation," she adds.

If you're interested in learning more about the challenges and opportunities of an omnichannel strategy, you may want to view our white paper, Insurance Outsourcing Services: Delivering Measurable Results. Highlights include several ways insurers can keep pace with emerging industry trends and adapt quickly to new market opportunities, regulatory requirements, technologies and customer needs.

Additionally, feel free to visit the Insurance Services page of our website offers more on industry best practices, case histories and whitepapers.

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