SYS-CON MEDIA Authors: Liz McMillan, Carmen Gonzalez, Zakia Bouachraoui, Roger Strukhoff, David Linthicum

Blog Feed Post

Innovative Insurance Impressing Customers and Increasing Revenue

There is no denying it— the digital revolution is here to stay. Gone are the days of traditional business transactions burdened by filing cabinets, waiting on signatures, and endless amounts of paperwork. What we see now is a huge shift to a highly efficient digital process that has all but eliminated the need for ink and paper. It might be sunny outside but we have never been more excited about the ever-present cloud that is changing the way we think, act, and do business. 

Digital transformation is changing every facet of the business sector, none more than the insurance, banking, credit unions, and wealth management fields.  Firms in these industries are looking for ways to better serve their clients and to improve the way they go to market.  Creating completely digital transactions is a huge win for client experience and vastly improves current processes that are still dependent on non-digital means such as dealing with paper, faxing, and scanning.

Here we are in 2014 and everyone is looking to digitally transform internal and external systems. It’s amazing when you think about it— just five years ago the “cloud” was nothing but a term used by the weatherman. Fast-forward to today and I would be hard-pressed to find anyone in the business sector not using the cloud, or at the very least familiar with its purpose.

Another reason I strongly believe in keeping business digital is the huge influence it has on customer experience. We have grown accustomed to instant gratification—Internet to move at lightening speed, news to be delivered in almost real-time— and the same is true when conducting business. The Banking and Insurance industries are making a notable drive to initiate mobile processes that are user-friendly and intuitive. And the cherry on top? The move to mobile processing yields lower cost and higher efficiency for both you and the customers you serve.  That’s a win-win no matter what angle you look at it.

Companies are taking huge strides to build systems to communicate with clients in the mobile sphere to help drive the digital transformation. Like any large organization, there is an ever-present focus on improving efficiency, reducing costs, driving revenue, and adopting the digital movement is quickly being added to the top of the list. The bottom line: if you want to compete in this new-age world business world, the digital movement is the vehicle that will take you there.

Despite all the excitement and benefits of transitioning to an entirely digital based platform, there are challenges that must be addressed. Chiefly, the conversion of old to new has proven to be a test. However, the challenge comes in identifying the right path and the right way to ensure customers view this shift as deeply necessary as companies do.

There is no denying the immense impact technology is having on the business sector, and the professional world as a whole. Cloud technology solves problems and drives values, further allowing us to help customers drive improvements in their business. The move fully digital transactions, in combination with DocuSign, has increased efficiency within the Insurance and Banking Community through three main drivers:

­Customer Satisfaction: Digital Transaction Management (DTM) is becoming far more accessible for agents and clients to understand and use. Both parties are finding an increased level of gratification from the shift to digital processes, with nearly 50-point swings in customer satisfaction. People don’t stay with companies where there time is not valued and nothing is respected more than time in this new way of business.

Savings Benefits: Both sectors of savings, hard and operational, are experiencing a heightened level of efficiency in today’s drive to tech-based approaches. Instead of chasing around signature for two weeks, business is opened and closed in one day. Time is freed up to meet with financial advisors or allocated to important tasks that move production forward at a rapid rate, unlike anything we have seen before.

Regulatory Compliance: DTM is heavily regulated. If an audit trail is not present, you are hit with a regulatory compliance fine. Compared with the nearly 12% of paper based transactions void of any traceable audit trail, DTM is far more secure and structured.

The Insurance field has also played its part in influencing the digital industry. We have drastically shaped our direction by working with partners with similar mindsets in the tech world to drive revenue for our clients. DocuSign holds itself to the same standards it holds external companies to and that unified cohesion of thought is what is propelling the digital transformation at its core. By focusing on customer satisfaction and security, we’ve seen enormous growth within these verticals.

I invite you to become a part of the Insurance conversation at DocuSign MOMENTUM 2014, where you will be able to learn more about the way Insurance is shifting in today’s world. I also encourage you to tap into the top 5 blogs and top 10 twitter handles that are sparking conversations within the Insurance field.

Top 5 Blogs:

The Insurance World Blog

Life Insure Blog

Home Insurance Blog

Health Insurance Blog

Florida Insurance Law Blog

 

 Top 10 Twitter Handles:

@insurance_news

@InsHeadlines

@ChubbInsurance

@LloydsofLondon

@RiskInsurance

@InsuranceSite

@InsureCom

@Lex_Ins

@AMBestCo

@TheCIAB

If you haven’t signed up for DocuSign MOMENTUM 2014, there’s still time! Hurry and secure you’re spot by registering here!

We look forward to seeing you in San Francisco!

 

Read the original blog entry...

Latest Stories
The platform combines the strengths of Singtel's extensive, intelligent network capabilities with Microsoft's cloud expertise to create a unique solution that sets new standards for IoT applications," said Mr Diomedes Kastanis, Head of IoT at Singtel. "Our solution provides speed, transparency and flexibility, paving the way for a more pervasive use of IoT to accelerate enterprises' digitalisation efforts. AI-powered intelligent connectivity over Microsoft Azure will be the fastest connected pat...
There are many examples of disruption in consumer space – Uber disrupting the cab industry, Airbnb disrupting the hospitality industry and so on; but have you wondered who is disrupting support and operations? AISERA helps make businesses and customers successful by offering consumer-like user experience for support and operations. We have built the world’s first AI-driven IT / HR / Cloud / Customer Support and Operations solution.
ScaleMP is presenting at CloudEXPO 2019, held June 24-26 in Santa Clara, and we’d love to see you there. At the conference, we’ll demonstrate how ScaleMP is solving one of the most vexing challenges for cloud — memory cost and limit of scale — and how our innovative vSMP MemoryONE solution provides affordable larger server memory for the private and public cloud. Please visit us at Booth No. 519 to connect with our experts and learn more about vSMP MemoryONE and how it is already serving some of...
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
Codete accelerates their clients growth through technological expertise and experience. Codite team works with organizations to meet the challenges that digitalization presents. Their clients include digital start-ups as well as established enterprises in the IT industry. To stay competitive in a highly innovative IT industry, strong R&D departments and bold spin-off initiatives is a must. Codete Data Science and Software Architects teams help corporate clients to stay up to date with the mod...
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility. As they do so, IT professionals are also embr...
Platform9, the leader in SaaS-managed hybrid cloud, has announced it will present five sessions at four upcoming industry conferences in June: BCS in London, DevOpsCon in Berlin, HPE Discover and Cloud Computing Expo 2019.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
When you're operating multiple services in production, building out forensics tools such as monitoring and observability becomes essential. Unfortunately, it is a real challenge balancing priorities between building new features and tools to help pinpoint root causes. Linkerd provides many of the tools you need to tame the chaos of operating microservices in a cloud native world. Because Linkerd is a transparent proxy that runs alongside your application, there are no code changes required. I...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
"NetApp's vision is how we help organizations manage data - delivering the right data in the right place, in the right time, to the people who need it, and doing it agnostic to what the platform is," explained Josh Atwell, Developer Advocate for NetApp, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Druva is the global leader in Cloud Data Protection and Management, delivering the industry's first data management-as-a-service solution that aggregates data from endpoints, servers and cloud applications and leverages the public cloud to offer a single pane of glass to enable data protection, governance and intelligence-dramatically increasing the availability and visibility of business critical information, while reducing the risk, cost and complexity of managing and protecting it. Druva's...
Kubernetes as a Container Platform is becoming a de facto for every enterprise. In my interactions with enterprises adopting container platform, I come across common questions: - How does application security work on this platform? What all do I need to secure? - How do I implement security in pipelines? - What about vulnerabilities discovered at a later point in time? - What are newer technologies like Istio Service Mesh bring to table?In this session, I will be addressing these commonly asked ...
BMC has unmatched experience in IT management, supporting 92 of the Forbes Global 100, and earning recognition as an ITSM Gartner Magic Quadrant Leader for five years running. Our solutions offer speed, agility, and efficiency to tackle business challenges in the areas of service management, automation, operations, and the mainframe.