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Top Seven Insurance Industry Concerns for 2017

James Allen
by James Allen
February 3, 2017
BPO Bulletin

Early into a new year for the insurance industry, it is important to have insight into top trends and concerns for the days ahead. I’d like to share a recent article that discusses the importance of driving change and boosting the bottom line (Yoder, Jamie, “Top 7 Insurance Concerns for 2017.” Property Casualty 360, 11/29/16). The author spotlights seven critical insurance industry issues that you might want to closely monitor as you plan to create an environment that is adaptive to change and positioned for growth. 

In my view, one of the most important areas discussed in the article is the rise of insurance technology necessary to remain relevant and competitive in the market.  As insurers strive to meet customer expectations and keep up with the pace of innovation, now is not the time to be stagnant.  The article states: “There are several business challenges that established insurers are facing as they try to meet new customer needs while improving core insurance functions.” 

Today, customers expect more. They anticipate being updated, notified and connected, virtually on a constant basis.  One of the many ways Canon Business Process Services (Canon) helps its insurance clients improve business processes is by leveraging Canon’s BPO technology platform, which can help enhance outsourced document processing efficiency. This includes features such as automated document classification and data extraction as well as instant status notifications.  With these and other solutions, insurers can increase their visibility into customer data and automate manual activities, which can yield faster response times. The potential result: happier customers who have access to the information they need quickly and efficiently. Through these and other solutions, Canon helps clients grow their business and retain existing business by providing superior customer service.

If you’re interested in learning more about technology upgrades for your company, feel free to visit the Insurance Services page of our website, which offers insights on industry best practices as well as case histories, whitepapers and more. 

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