In today’s world of increased interconnectivity and technological dependence, insurers are looking for new ways to harness untapped economic value via various forms of business process automation. Finding and implementing the right type of insurance software can help insurance carriers drive sales, reduce expenses, improve underwriting consistency, and enhance the entire customer experience.
With Pega, Xchanging improved operational efficiencies for their customers in cash allocation, reconciliation and policy administration by 50%.
Pega Next-Best-Action for Insurance turns every interaction into an opportunity to optimize value for your customer and your business.
Pega delivered five solutions that enhanced operational efficiency, simplified processes, and surpassed the training objectives of the insurer.
Insurance software from Pega: Maximizing sales and efficiency
Pega’s insurance software features a dynamic range of solutions for insurers across every business channel and product line. Pega’s state of the art business process management (BPM) and customer relationship management (CRM) technology provides ample room for rapid change and adaptation as your business grows and develops.
Pega’s insurance software helps boost productivity and efficiency across many business operations including:
- New business & underwriting. Pega’s award-winning BPM suite provides insurers with an intelligent, easy-to-use insurance product configurator to help tailor products to the optimal customer segments while shortening time to market. Pega insurance software also accelerates your underwriting process while enforcing best practices and compliance.
- Claims processing. Pega’s claims management software helps guide adjusters through each claim to expedite and standardize the claims process from end-to-end. As a result, adjusters using Pega insurance claim software complete more work while making fewer errors.
- Sales and distribution management. Pega incorporates proven sales techniques and real-time data into an intelligent sales platform that helps insurance carriers maximize sales production in the short and long term.
- Customer service. Pega’s insurance software features an end-to-end customer service platform that helps insurers to provide an outstanding experience for customers through any channel, while also maximizing the value derived from the customer—for example, by enabling CSRs to provide customers with highly relevant and personalized up-sell and cross-sell offers.
- Predictive analytics. Next-Best-Action Marketing by Pega allows carriers to design campaigns for specific customer segments and then determine the most relevant offers as well as the most effective channels to interact with customers on an individual basis. Adaptive and predictive analytics for insurance take a multitude of situational factors into account in order to ensure that offers are timely, relevant, and profitable.
Pega’s insurance software produces strong results
Some of the most successful carriers in the industry have used Pega’s insurance software to enhance their operational efficiency. Farmer’s, Zurich, New York Life, and many others have all benefitted from Pega’s Better Business Software® and industry-specific solution frameworks. Pega’s solutions offer insurers the opportunity to transform weaknesses into strengths and to quickly capitalize on new market trends. For a broad range of carriers seeking anything from streamlined wealth management systems to profit-boosting life insurance software or P&C insurance software, Pega has the answer.
For more information about Pega’s insurance software
Learn more about how Pega insurance software can drive new levels of efficiency and agility throughout your business processes.