Technology is constantly evolving and raising the bar for insurers to survive – if you fall behind in the digital department, so will your business. A McKinsey study found that the insurance industry has struggled for years to achieve productivity gains on a scale, particularly when compared with other industries. In addition, the spread in operating costs between the highest and lowest performers in both P&C and Life has substantially increased over the past decade.
Maintaining a bug-free product, and responding to customer queries at jet speed, consistently, are critical for customer delight and retention, the key pillars of insurance practice. There is also the need to stay on top of a fast moving data environment with automated workflows to increase IT agility and business scalability. However, all this requires significant technological investment, which is where cognitive managed services can help you big time. Cognitive managed services contribute toward cutting redundancy, time, and resources spent on repetitive tasks leaving more time and money for your teams to focus on future growth.
AI-driven automation in support and maintenance services through a managed services approach has a great impact on reducing the operational cost and enable insurers to focus on business transformation, enterprise agility, and functional excellence.
The ROI effectiveness of managed services can be tracked by how well you use AI, automation, and analytics to effortlessly carry out both simple and complex tasks. However, that’s just the starting point. You should also accelerate your deployment of complex IT stacks to improve application enhancement and resiliency.
A proactive cognitive application managed service equips you with clean data across core processes so you can align your business performance with your IT goals. It ensures that you can automate key support processes such as incident management, defect management, or change management while leveraging machine learning or AI-based tools to resolve frequently occurring incidents.
Guidewire software journey with end-to-end managed service provider
With a 24x7x365 on-demand and planned system maintenance framework, your IT systems will be readily available to deal with changing customer expectations and market conditions.
Adding cognitive managed services to your Guidewire software suite can:
- REDUCE 40% OF OVERALL OPERATIONAL AND MAINTENANCE COSTS
- INCREASE SERVICE EFFICIENCY AND IMPROVE TICKET SLAs
- CUT THE NUMBER OF UNRESOLVED TICKETS SIGNIFICANTLY
- AUTOMATE REPETITIVE MANUAL TASKS
Managing multiple applications:
Insurance ecosystems also have multiple applications and integrations, and this makes application support services even more complicated. For instance, Guidewire software suites, many a time, co-exist with other applications and it is important to have a one-stop solution provider who can provide end-to-end managed services including:
1. Application Managed Services for the overall application landscape
2. Monitoring and maintenance of application, infrastructure and business operations both on-premises and Cloud
3. Value-added services for process automation such as DevOps and Testing
For this, you need a specialist who understands every step of the way from consulting and strategy to processing improvements to ensure that the end-customer expectations are met. Such a partner can increase your speed in resolving issues, handle continuous upgrades, reduce the overall cost of business operations and deliver great insurance experiences. Aspire builds AI/ML capabilities in your Guidewire insurance suite’s managed services environment from the ground-up. We help you streamline operations and reduce application costs by up to 70%. Aspire is also an end-to-end managed services provider for the Guidewire software ecosystem and has been recognized as a Consulting Select Partner by Guidewire. Our team of 100+ managed services professionals with extensive knowledge of the Guidewire insurance suite can put you in a better position to manage your IT and data center operations and turn them into profit centers.
Want to know more? Here’s a whitepaper on how cognitive managed services can boost your Guidewire software insurance suite.
Watch out for this space to learn more about Cognitive Application Managed Services and how it has helped Guidewire customers. – Download Whitepaper
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