One of the primary focuses for companies in the current Insurtech movement is successfully innovating. Innovation has become both a competitive differentiator and a checkbox as almost a necessity in today’s environment. As evidenced by the global participation at InsureTech Connect and within other regional Insurtech communities, there is no shortage of interest in new technologies for the Insurance Industry.
The side of insurtech that receives much of the attention is front end innovation, those technologies that help a carrier better interact directly with a policyholder - offering better service, premiums, etc. We focus on the other side of insurance innovation - backend innovation.
We work with the systems that enable policyholder and agent communications. We are not an insurance carrier, but rather a product and services company using technology and a partnering business model to provide operational efficiencies and process improvements to existing insurance workflows for document output.
We’ve built our business model on an ecosystem of partners, inclusive of other technology companies, print companies, and our clients, that delivers outsourced printing and mailing solutions for insurance carriers of all sizes.
This partner model is innovative in that it leverages existing expertise from multiple companies to deliver reliable, efficient, and secure solutions in areas that are vital to a carrier’s insurance operations. These solutions have been simple for our clients so as not to disrupt their business operations, but they’ve also proven successful at helping them progress, innovate, and improve.
Here are a few examples of those innovations:
Disaster recovery and business continuity (DR/BC)
For carriers with internal print/mail operations, DR/BC is a complex, costly, and ominous project to undertake. While it may seem simple, most quickly realize it’s not, at least to manage it internally. But DR/BC is embedded as part of our standard offering, so we remove the challenges for our carrier clients.
Standardization of print/mail workflows
We have built standardized, reliable, efficient, and secure solutions that simplify operations and scale to meet each individual carrier’s needs.
Technology and process improvements
There’s a lot more technology involved with managing print and mail operations than you might assume. A few of the solutions we’ve developed for clients include:
A cloud based platform to manage all aspects of the workflow.
A barcoding and document tracking system for integrity in the envelope.
Intelligent Mail Barcode (IMB) system for USPS delivery (replacing Certificate of Mail for cancellations)
Reliable and secure API integration to the PAS
Enhancing print output with our tools versus costly and resource-driven changes to the PAS or document management system
Return address change from carrier HQ address to the agent address
Insured address cleansing to reduce return mail
Our solutions do not require integration to a PAS, therefore accommodate multiple PAS and changing PAS.
Our process emphasizes and recognizes the carrier’s brand without the expense and inefficiency of custom envelopes and paper.
As an insurtech company, our targeted innovation programs will continue to be a strategic focus and a critical part of expanding our value proposition to clients. As partners, our shared goal is to have a positive impact on insurance operations.