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Posts Tagged ‘insurance’

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IBM BAW Transforms and Improves Financial Group

IBM’s flagship technology conference, Think, is taking place this week in San Francisco.  Perficient is proud to be a Gold sponsor of the event and will have several industry and technology thought leaders there presenting on how we have helped solve customer challenges leveraging IBM solutions. In one of the sessions, Tarek El Shamy (Perficient […]

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Health Insurance Leader Innovates with Red Hat OpenShift

The healthcare industry has undergone a series of recent changes driven by healthcare reform and evolving consumer expectations. In response to these changes, a leading health insurance organization needed to find ways to continue growing within the industry. Specifically, it sought a modern application platform to help drive innovation and improve the velocity of application […]

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Spurring Growth Initiatives Through Tax Reform in Insurance

Recent months have seen many discussions and questions about tax reform and its impact on the industry as a whole. The introduction of lower corporate tax rates in the U.S. has created a jubilant atmosphere, as the rates are generally expected to boost earnings and investments for many insurers. Companies including Aflac, MetLife, Travelers, and […]

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Enabling Key Stakeholders in the Insurance Industry

Ensuring that agents and brokers have the best tools to evaluate and close opportunities can be a real differentiator for insurance companies. For example, many companies wish to invest in solutions that effectively automate and improve underwriting, as such solutions can help remove human bias, increase the lendable pool of consumers, and reduce response times. […]

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Attracting and Cultivating Customers in the Insurance Industry

Attracting new customers and cultivating existing relationships by building a great customer experience is a certainly a recipe for growth and profitability. When speaking of customer experience, one typically thinks of the technology customers interact with, be it a website or a mobile app. Customer experience encompasses the features, functionality, and benefits provided to customers […]

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Investing in Technology Across the Board in Insurance

Technology investment is an essential component of most strategic growth and operational efficiency initiatives. Technology comes in two parts. There’s the front-end technology that customers experience. There’s also the back-end technology that other stakeholders (i.e., agents, brokers, underwriters) leverage, enabling the company to effectively facilitate relationship-building. But equally important is technology that sits in corporate […]

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Expanding Through M&A in the Insurance Industry

M&A is always on the table, as it can provide quicker access to more customers through geographic expansion, as well as new business lines and capabilities. It’s also a way to reinforce a company’s innovation strategy. Zurich’s acquisition of Bright Box, a company which provides telematics solutions “that link drivers to their vehicles, and the […]

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Embracing Strategic Initiatives in the Insurance Industry

Today, insurance companies remain heavily focused on growth, productivity, and efficiency. That is, how can they generate more revenue and increase profitability? How can they get a bigger piece of the pie in a market that offers customers so many options? How can they create more value for shareholders? The answers to these big questions […]

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Transforming With Optimism in the Insurance Industry

Mario Greco, CEO of Zurich Insurance Group, one of the world’s largest insurance companies, sat down with CNBC following the release of the company’s Q4 2017 earnings. He shared his views on how the industry is doing as a whole, as well as how Zurich is maintaining its leadership position in such a competitive environment. […]

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[Guide] 2018 State of the Insurance Industry

Creating value for customers, employees, partners, and shareholders has always been the core objective of insurance companies. Today, the only difference is that stakeholder expectations are evolving faster because of technical innovation. While expectations are increasing, it is becoming more challenging to establish and retain relationships, and grow at more profitable levels. Our new guide […]

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How Blockchain Can Disrupt Financial Services

This table below highlights how blockchain can disrupt various aspects of the financial services industry. If you are interested in learning more about blockchain, download our new guide titled “Getting Ahead with Blockchain in Financial Services.”

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Understanding Public and Private Blockchains

Leveraging blockchain technology requires access to a blockchain platform. Public or permissionless blockchain platforms, however, have limitations for financial enterprise transactions, creating privacy concerns by enabling everybody on the blockchain to have visibility of all transactions. Additionally, the sheer vastness of potential transactions requires a substantial amount of computational power, which can slow transaction processing […]

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The Blockchain Process

Current transaction processing requires trusted intermediaries to store assets, verify the legitimacy and solvency of each party in a transaction, validate each asset being transacted, complete the transfer of ownership of the asset, and record the transaction in a centralized ledger. Once a transaction is initiated, the initiating party has no visibility of each stage […]

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Report: Digital Transformation Is Key To Boosting Customer Satisfaction

The American Customer Satisfaction Index (ACSI), which measures the satisfaction of consumers with the quality of products and services offered by companies across a variety of industries, released a report that suggests digital transformation is helping financial services companies increase customer satisfaction. The ACSI report, which is based on 17,861 customer surveys collected between October […]

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[Guide] Conquering Selection Analysis Paralysis In Financial Services

In the interest of reducing cost and liability, financial services companies have started withdrawing from the advice market and are requiring non-high net worth individuals to bear responsibility for their own financial decisions. This trend is similar to a trend in healthcare called “patient empowerment,” where doctors no longer make a recommendation for a course […]

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What Is Blockchain? 7 Things to Know About the Technology

In simplest terms, blockchain is a technology that enables value to be transferred using only software; that is, without the need for trusted intermediaries. It is a record-keeping system where transactions are executed, validated, and recorded publicly. Let’s break down blockchain: 1. Blockchain is the technology behind bitcoin, the electronic currency. It is not the […]

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Helping Clients Understand The Impact Of Their Investment Decisions

Clients are more empowered than ever to make their own informed decisions, which has led to a dramatic shift in their expectations of financial services companies. Clients expect to be provided with the kind of personalized advice, support, and tools they used to only get from their financial advisors. While offering choices is an important […]

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Negative Implications of Self-Driving and Connected Cars

While the benefits of driverless and connected cars are obvious, there are plenty of negative implications as well, many of which we can’t even predict. However, cybersecurity and data privacy are the most obvious issues. The technology that enables cars to function on their own, perform better, and enhance our driving experience comes with a […]

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5 Ways To Improve The Decision-Making Process For Investors

Financial services institutions have several options when it comes to improving the decision-making process for investors. Reduce options Probably the least-attractive idea for many providers is the notion of limiting the number of options available to clients. Though there are many examples in the manufacturing industry where decreasing the total number of different products in […]

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The Emotional Impact Of Too Much Choice

In his book Paradox of Choice, Dr. Barry Schwartz identifies several key reactions people have when confronted with too much choice. Escalation of expectations – Expectations can be significantly detrimental to one’s ability to be happy with a situation. If you are given only two options, your expectations are going to be fairly low. Regardless […]

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