While the Affordable Care Act (ACA) increased the number of Americans with access to health insurance, U.S. employers and employees continue to struggle with rising health care costs and changing workforce demands. Recent Aon research shows that 20% of health care consumers cite high health care costs as the major reason they have either declined health care coverage, stopped taking medications, or avoided care altogether. If the U.S. health care system is to succeed, stakeholders across the health ecosystem must influence change in each market—employer, individual, and government (Medicare, Medicaid, and Tricare).
While each part of the three-legged stool is important, this paper focuses on five strategies Aon believes will strengthen the employer-based system—a system that provides health care coverage to well over half of Americans (61%, or 177 million).
You may not know that there can be a big difference in out-of-pocket costs for the same pair of glasses depending on where you buy them and what vision insurance you have. This infographic displays the cost with VSP's Signature Plan, versus the cost with other insurance and no insurance.
Backup and recovery needs a radical rethink. When today’s incumbent solutions were designed over a decade ago, IT environments were exploding, heterogeneity was increasing, and backup was the protection of last resort. The goal was to provide a low cost insurance policy for data, and to support this increasingly complex multi-tier, heterogeneous environment. The answer was to patch together backup and recovery solutions under a common vendor management framework and to minimize costs by moving data across the infrastructure or media.
Published By: Datto Inc.
Published Date: Jan 31, 2013
Business continuity, data insurance, local storage flexibility, cost benefits, standards compliance and infrastructure control. This is just some of what Datto and hybrid cloud backup can do for you, and your clients.
Best practices for taking control.
The numbers don’t lie: Driver monitoring can reduce accidents, save organizations money, and protect the people and communities you serve.
Advances in safety technology, like comprehensive driver monitoring solutions, are enabling companies not only to stay safer, but to better navigate the tricky territory of insurance. By following a few new best practices, you can manage insurance costs and protect your company’s bottom line before your drivers even hit the road.
In our free white paper, “Lowering Commercial Automotive Fleet Insurance Costs,” we’ll show you:
• The many ways vehicle crashes affect the bottom line
• A deeper look at the risks of employer- and employee-owned vehicles
• How negligent entrustment suits can snare companies in any industry
• How to mitigate risk and take control of insurance
The growing need for cyber insurance is undeniable, yet the landscape is currently operating without standards, mostly due to the high number of unknowns regarding cyber risks. As a result, understanding how cyber insurance can help mitigate the costs for your company, if a cyber attack occurs, is quickly emerging as a best practice. Download this whitepaper and learn about what to consider when purchasing a cyber insurance plan, cyber Insurance Coverage: What Is (and Isn't) Covered, How Much Will the Coverage You Need Cost?, and how to step up cyber security efforts.
The client is one of the world's leading insurance companies. In 2007, the client embarked on a journey to transform its actuarial function. The objective was to improve the operational efficiencies and accuracy of actuarial reporting, while meeting tight timelines and reducing operational costs.
The largest national multiline insurance had built a repository of Insurance policies (P&C and Life Insurance) on Microfilm and Microfiche in early 90’s, as a preservation strategy. They were grappling with issues as this technology became outdated over time:
• Risk of losing their only source of data for Insurance policies and corresponding communication, need to improve data availability and speed of claims evaluation
• Compliance issues, need of a WORM (write once read many) storage compliant with FINRA regulations, where data should be encrypted when at rest
• Total cost for digitization compared to 10-12 years of support left to maintain insurance policies was not very encouraging
• Required a low cost, cloud-based, FINRA-compliant document management solution which could provide quick access to stored data
Download complete case study to know how LTI’s e-Office sDownload full case study to know how LTI’s e-Office solution enabled 50% TCO for Largest national Multiline Insurance.
Published By: Red Hat
Published Date: Jan 02, 2018
When Aviva plc, a multinational insurance provider group, acquired Friends Provident
International (FPI), it needed to replace FPI’s costly proprietary imaging and bond management
workflow system. With help from Red Hat Consulting, Aviva Asia Pte. Ltd. created and launched
a new application based on Red Hat JBoss Middleware within a tight six-month time frame. With
this new solution, Aviva has reduced costs by replacing proprietary licensing fees with Red Hat’s
flexible, cost-effective subscription pricing model. In addition, hosting the new application locally
on-premise has improved response times for end users, helping Aviva bring new services to
The Insurance industry continues to undergo significant transformation, with
new technologies, business models, and competitors entering the market at an
increasing rate. To be successful in attracting and retaining the most valuable
customers, insurance companies must innovate and increase the speed at which
they respond to customer demands. Traditionally, the insurance software market
was dominated by a handful of specialist vendors with products that were initially
expensive, difficult to deploy, costly to maintain, and did not provide the speed
needed for today’s market.
Now there has been a shift away from these “black box” applications to platforms
that allow insurers to make their algorithmic IP available to business users, allowing
much faster response to business demands. The algorithmic platform approach also
comes at a fraction of the cost of black box solutions, while delivering advanced
analytical techniques like Machine Learning and Artificial Intelligence (AI).
As Singapore’s largest insurance force, Prudential Singapore needed a scalable and cost-effective solution to help financial consultants respond quicker to in-depth product and policy questions.
Partnering with IBM, they developed askPRU, an industry-first chatbot with IBM Cloud and Watson capabilities. Handling over 1,000 commonly asked questions in real-time, askPRU reduced call volume by 32% within six months and enhanced the responsiveness of over 4,600 consultants. Enabling consultants to focus on more complex queries, askPRU also provides accurate expertise to help deliver consistently exceptional service.
Learn how Watson technology became central to the Prudential Singapore business and enhanced their customer experience.
Click here to find out more about how embedding IBM technologies can accelerate your solutions’ time to market.
Today’s financial services organizations recognize that success starts with strong relationships built on trust and transparency. In a competitive market, a company’s employees can make or break these crucial relationships through their interactions with customers. That’s why businesses — from wealth management and insurance firms to banks and credit unions — are investing in automated workforce solutions to help them attract, engage, and retain top talent while controlling costs and driving exceptional service.
Managing a diverse workforce of exempt and nonexempt employees across back-office, contact center, and frontline operations is no easy feat. Finding and keeping best-fit employees is challenging enough, but you also need to optimize day-to-day functions like time and attendance, scheduling, payroll, labor cost and productivity tracking, and compliance management to stay competitive and profitable. Given this complexity, it is not surprising that management teams are not alway
The Insurance industry continues to undergo significant transformation, with new technologies, business models, and competitors entering the market at an increasing rate. To be successful in attracting and retaining the most valuable customers, insurance companies must innovate and increase the speed at which they respond to customer demands. Traditionally, the insurance software market was dominated by a handful of specialist vendors with products that were initially expensive, difficult to deploy, costly to maintain, and did not provide the speed needed for today's market.
Now there has been a shift away from these "black box" applications to platforms that allow insurers to make their algorithmic IP available to business users, allowing much faster response to business demands. The algorithmic platform approach also comes at a fraction of the cost of black box solutions, while delivering advanced analytical techniques like Machine Learning and Artificial Intelligence (AI).
Are you ready for the digital revolution? Digital transformation is fundamentally reshaping the way insurers do business.
From automated data integration, mobile implementation and analytics, digital transformation spans across your enterprise operations This white paper provides you with the roadmap you need to build a comprehensive enterprise-wide digital transformation plan that makes your insurance organization not only competitive, but differentiated.
• Understand the forces behind digital disruption: customers, competitors, costs and compliance
• Learn how to map, prioritize and identify opportunities for digital transformation
• Leverage a process maturity model to advance your digital position
Poor quality of care takes a tremendous toll, not just on the system as a whole, but on the patients and their families at the center of that system. It also has a tremendous effect on employers, who already face unsustainable health care costs. When we evaluated one of our customer's claims, we found numerous signs of preventable complications that had cost our client significant amounts, not to mention the toll on the individual. Specifically, we identified the following preventable hospital- acquired conditions (HACs):
• Fourteen instances of stage III and IV pressure ulcers
• Twelve instances of vascular catheter-associated infections
• Thirteen instances of catheter-associated urinary tract infections
• One instance of a patient dying or experiencing a serious disability associated
with intravascular air embolism
• Five instances of foreign objects remaining in patients after a procedure.
Please download the whitepaper to learn more!
Celina Insurance case study that shows cost reduction and increased productivity - faster, better service to agents and their customers due to integrated systems and real-time collaboration; being “easy to do business with” secures agent loyalty; 50 percent reduction in phone calls and costs due to instant messaging option, and 40 percent reduction in head count while maintaining the same volume of business due to streamlined processes.
Published By: Ephesoft
Published Date: Jan 18, 2018
Financial services companies can improve customer service and their bottom line by automating document intensive processes with banking, such as new account openings, mortgage, investing, credit cards, insurance, and personal, small business and commercial financial services. Learn how to make a substantial impact in terms of efficiency and cost savings for your organization with intelligent document capture technology.
Trupanion, a Seattle-based medical insurance provider for cats and dogs, needed to find data insights quickly. With only 1% of pet owners insured, the process of evaluating a claim to approve or deny payment was manual and time-consuming. Building accurate predictive models for decision-making required manpower, time, and technology that the small company simply did not have.
DataRobot Cloud, built on AWS, helped Trupanion create an automated method for building data models using machine learning that reduced the time required to process claims from minutes to seconds. Join our webinar to hear how Trupanion transformed itself into an AI-driven organization, with robust data analysis and data science project prototyping that empowered the company to make better decisions and optimize business processes in less time and at a reduced cost.
Join our webinar to learn:
Why you don’t need to be an expert in data science to create accurate predictive models.
How you can build and deploy pr
“Fixing health care” is an urgent and pervasive priority for governments, businesses and
citizens alike. Within many countries, costs are out of control, resulting in reduced
access to quality care for those who need it, higher taxes and/or insurance costs for
companies and citizens – and unfortunately, poorer health outcomes.
Reliance Life Insurance launched a comprehensive self-service portal solution that has enabled it to expand rapidly and cost effectively in India’s burgeoning life insurance market, and gain market insights into the kinds of offerings Indian consumers are looking for. By optimizing its product portfolio, Reliance was able to double its market share and become one of the most competitive companies. Getting the right products and features to market 50 percent faster enabled Reliance to emerge as an innovator in India’s life insurance industry.
Published By: DocuSign
Published Date: Jul 12, 2019
Rising consumer expectations are
shaping the future of insurance
industry, and transforming the claims
process is pivotal to improving the
customer journey. As carriers vie
to retain their clients and capture
new ones, they are turning to digital
technologies to streamline their
claims procedures—reducing their
costs and better managing their
risks along the way. We walk through
how digital technologies can help
insurers provide a convenient,
multichannel and truly satisfying
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