With the increase in optimization, comes an increase in productivity and the number of claims that can be processed, leading to a higher financial return and customer satisfaction. (Photo: Shutterstock)
The insurance industry plays an important role in the economic and social hedging of risks. Due to the divergence of global and national regulations, insurers need to evaluate their business process models to be able to react to changes effectively.
By rethinking internal structures and processes, insurance companies can optimize capital, reduce costs, and focus on customers. Efficient processes help with increased financial, risk and regulatory challenges. However, the right processes specifically can ensure consistency of programs across business functions, geographies and customer groups.
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