implementing a digital application-like form that allowed
customers to make claims online. It later automated the
process, using IBM Watson to analyze the circumstances of
each claim and determine liability. Results were so accurate
that the company now processes half of all claims using this
“zero-touch” methodology.
Experimenting on New Products
Insurers have used the cloud’s strength and flexibility to do
more than develop and deploy consumer-friendly apps. The
cloud has also allowed them to experiment.
Rather than spending months, if not years, creating a prod-
uct that may or may not fit the insurer’s needs, IT teams can
develop a prototype for a new product in days. Perhaps an
old-line insurer wants to try out features for a new cus-
tomer pricing portal for an existing project. Teams can spin
up options, present them to a small set of customers for
instant feedback and tweak the portal until it meets the
insurer’s specifications. Then, when the customer feedback
function uncovers preferences for new click-flows or
sharper descriptions, developers can update the portal on
an ongoing basis.
Conclusion
Insurance companies pride themselves on their ability to
execute efficient business strategies that serve customers
and maintain a healthy bottom line. For a long time, that
meant staying conservative with technology and business
tactics. Today, insurers are facing increasing competition –
from their own ranks and from new entrants into the mar-
ket. Using the cloud to streamline processes and make bet-
ter use of the data they already collect, insurers can position
themselves better to compete over the long haul.
SUMMER 2019 | THE DOPPLER | 87