With the advent of technology, updating legacy systems and finding innovative workflows have become a regular feature in most workplaces to stay ahead of their competitors. However, a few issues of concern persist in the insurance industry with regard to applications management. A majority of these issues are closely linked to abuse of time and resources.

As organizations continue to work toward the next industrial revolution, the time is ripe to scrap traditional workflows and hierarchy in the insurance industry through the democratization of data and the rise of automation including artificial intelligence and machine learning techniques. While adaptability becomes the key component in switching to emerging technologies, insurers should make way for increased personalization, better accessibility, and enhanced self-service opportunities.

Investing to upgrade the IT facilities with good technologies should be on the to-do list of insurers to ensure you have all the ammunition to succeed in a modern insurance business. With the help of a managed IT service, insurance companies will have access to a more efficient IT department at a fraction of the cost and other resources legacy business processes need.

Compliance

Insurance companies must be fully committed to being 100% compliant with all legal requirements and regulations to maintain healthy relationships with customers. Most organizations have specific requirements when it comes to their IT environment. Ensuring 100% compliance is still a major challenge for most organizations due to insufficient IT resources or expertise.

With Aspire’s application managed services, we ensure your entire IT department is fully compliant while keeping tabs on potential risks.

Data Storage

By nature, insurance companies deal with highly sensitive personal information every day. Storing all the data can be a difficult task, especially if your organization needs appropriate back-up and security in case of disaster.

With third party agents and customer service representatives gaining full access to all the case files and client information, there are high chances of downtime on a regular basis.

Our application managed services keep you away from cyber-attacks or any kind of disaster your organization might face while storing or accessing case files. With comprehensive data storage solutions, Aspire Systems will also enhance your uptime and promises a seamless workflow.

Security

Data is the fulcrum for insurance companies and protecting your data from phishing attacks, malware, and ransomware is instrumental.

Aspire’s application managed services will help you fight against the most sophisticated cyber-attacks or threats. Our support team not only responds to attacks but takes preventive measures through artificial intelligence and machine learning techniques to be notified of a potential attack.

Customer care

Customer satisfaction remains at the core of an insurance business and customers are extremely vigilant when it comes to choosing the best service provider and policy available in the market. The bar for customer experience is constantly rising and insurance providers must ensure they deliver smooth, real-time experiences to strengthen customer relationships.

A report from Harvard suggests businesses that embrace digital transformation initiatives such as self-help portals are likely to witness a 65% reduction in costs and 90% reduction in TAT.

Aspire Systems application managed services will help you provide the best-in-class customer experience with the latest domain-specific innovations in technology by assessing your requirements and providing the best solutions tailor-made for you.

Guidewire Managed Services for a Leading USA based Insurance ProviderDownload Case Study 

Conclusion

A traditional AMS offers application performance management, batch monitoring, and user security but fails to address a few key issues such as high-ticket velocity, lower helpdesk productivity, and insufficient L1 and L2 support. However, with newer technologies and operating models such as artificial intelligence and machine learning tools proposed by AMS providers, it is possible to better streamline operations and improve efficiency.

Aspire proposes its Guidewire customers to adopt an AI-powered Application Managed Services that serves as a solution to the challenges faced by companies with the traditional model. AI-AMS helps optimize the overall IT experience and comes with fewer trade-offs.

Watch out for this space to learn more about Cognitive Application Managed Services and how it has helped Guidewire customers. – Download Whitepaper

Please reach out to us at [email protected] or sign up for a free consultation!

Visit our – Guidewire Transformation Services

Read our other Blogs:

How Guidewire Insurance Transformation Breaks Down Innovation Barriers in the Industry

It’s Time for Guidewire Insurers to Leverage Cognitive AMS

The Rise and Rise of Insurance Data Analytics: The Ultimate Game-changer for Insurers

Sreyesh Sarma