The need for technology modernization in Insurance:
With the increasing technology innovation challenges from Insurtech, changing and evolving customer expectations, the introduction of Fluidless Underwriting, and another such phenomenon, the insurance industry is undergoing a significant digital transformation.
Many digital native platforms around insurance are created for digital insurance, conventional insurance comparisons and review platforms, and claims and informative platforms. With the increasing trend, new technologies, and growing adaptation of technology, conventional insurance companies need a strong Digital Experience Platform that can cater to modern-day requirements as well as conventional insurance culture and workflows.
To compete with digital native platforms, insurance companies required a strong technology infrastructure that can break silos, integrate all the conventional insurance systems, and yet provide a strong content, experience, and user management architecture that can deliver modern-day digital experiences.
Underwriting and Claims management the center of customer acquisition for insurance:
With the growing competition, insurance companies have been relying on personalized digital experiences and personalized services to create a strong, seamless, and effective customer acquisition strategy. Because of this, the need for strong analytics, personalized customer, and agent portals as well as united and integrated platforms have increased.
For instance, thirty-seven percent of life underwriters say a lack of information/analytics at the point of need impacts their ability to achieve business objectives. Also, shortage of data and analytics talent is seen by one-third of the surveyed insurers as one of the top challenges in developing and scaling an effective AA strategy.
Liferay DXP- A Leader in the Gartner® Magic Quadrant for Digital Experience Platforms:
To help insurance enterprises create personalized digital experiences, break system silos and deliver effective claims management and underwriting services, Liferay has been a preferred Digital Experience Portal for insurance.
With the help of OOTB insurance modules of Liferay and the expertise of Liferay DXP consulting for insurance from domain-experienced Liferay DXP consultants, insurance enterprises can deliver:
Goal-oriented personalized and Intuitive Digital Experiences:
Successfully nurture healthy customer and agent relationships and enhance it for necessary modern-day profitability with custom-tailored customer and agent portals on Liferay DXP. Deliver superior and more convenient experiences that are personalized based on your business goals by certified Liferay DXP developers and incorporate modern-day digital experiences for your users that will set you apart from your competition.
Organization personalized Customers self-service capabilities:
Empower customers with complete control of their insurance plan by incorporating all your processes and automating workflows with customer self-service portals. Manage administrative costs and leverage features such as personalized dashboards, powerful form builders and robust data protection that enables customers to perform required activities at their convenient time and place.
Knowledgebase for Your Agents to Increase Conversion:
Leverage Liferay Knowledgebase, wiki pages and connected agent portal to enable field agents to work more effectively and streamline processes that enable effective digital partnership. Employ an experienced Liferay DXP consultant that can help you define granular user roles, create collaboration tools, and develop a custom-tailored digital asset management system that empowers your agents to sell more policies and serve your insured better.
A unified platform that integrates existing systems and fights rising Insurtech platforms:
Instead of creating technology disruption, employ DXP consulting services that create a personalized transformation roadmap to integrate Liferay insurance solutions with your existing legacy systems and critical applications.
With effective use of Liferay DXP’s development workplace, OSGi and development standards, and comprehensive digital toolset, DXP consultants can bridge the gap between old and new systems and create a unified platform that is built on technology evolution strategy and not on disruption.
Future-proof no-code architecture with Liferay DXP Managed Services:
To keep your enterprise at par with the competition and to incorporate the latest digital innovations that match your customer expectations, your Liferay DXP consulting partner can provide DXP Managed Services that can deliver the optimum advantage of Liferay DXP’s back-end architecture and make optimum use of APIs to account for custom requirements.
AIMDek’s success story of delivering DXP Consulting Services for a Fortune 500 global insurance company:
To enable a Japanese giant to cater effective B2B reinsurance services, AIMDek provided Liferay DXP consulting partnership to deliver a modern user-centric interface, Liferay DXP insurance functions and an automated workflow management platform for underwriters.
To understand how we automated processes and delivered data-driven decision-making capabilities, read our success story!
Wish to leverage Liferay DXP for your insurance organization? Connect with our Liferay DXP consultant and start your digital evolution journey today!