For a long time, the traditional insurance business model has proved to be exceptionally resilient.
… but today’s insurance markets are becoming defined by the ever-changing demands of digitally savvy customers and the industry’s ability to transform to meet them.
In response, digital transformation in the industry has focused on diversifying distribution channels and facilitating self service. Online price comparison tools have enabled customers to easily find the lowest price for the cover they are looking for. And increasingly, customers can manage, change and renew their policies without ever needing to talk to their insurer.
These capabilities have contributed to a deterioration in customer loyalty as well as an aggressive price war amongst traditional insurers and new challengers. Insurers have reacted by seeking to provide increasingly compelling, digitally-enabled customer experiences throughout the entire insurance lifecycle.
Jumar’s considerable domain expertise enables you to understand how IT can provide business value and differentiate your organisation from the rest of the market.
This wide-ranging capability is reinforced by Jumar being part-owned by a global insurer , ensuring the very latest trends and technologies are always at the forefront of any solution.
Using data to more accurately underwrite risks, calculate premiums, and manage claims helps to improve the quality of risks written and reduce claims costs, but more importantly, increase customer retention. But how do you gather this data? And how do you use it efficiently and effectively?
Jumar has a track record in providing technology-based policy and claims management solutions, which not only support the criticality of an insurer’s access to and use of data but also:
Underpinned by technology, claims processes are being reinvented and reimagined to provide a better experience for customers. With claims most likely your biggest cost, the impact on retention of the claims experience you deliver can be significant. Jumar works with you, using its experience and capabilities, to help you to streamline your processes to reduce claims costs and improve customer experiences.
The insurance industry is built upon relationships. Providing your customers with multiple touchpoints to communicate with your business is vital, as is securely storing the data collected from those interactions.
While we understand the motivation to modernise legacy technologies, we also appreciate that you have made a huge investment in them. We can work with you to simplify your portfolio and free up time in your team.
Insurance Domain Expertise: Jumar’s unique organisational structure.
Jumar has developed real insurance industry expertise working with insurance clients. We can use that experience to deliver real business benefits for you, provide a complete team to manage your project from inception to completion, or, you can use only the resources you require via our Capability-as-a-Service offering.
In the past, the insurance industry viewed IT as a cost.
Now it’s a competitive advantage.
Up to 45% of activities within the insurance industry can be automated right now with existing technology.
Talk to Jumar Solutions about the steps you can take to improve business efficiency.Contact Jumar
“What we have now is a platform which allows us to do all of the things we’ve been talking about doing for many years.”
- Ian Edwards, Director of Underwriting at ShipownersRead case study
Need help with your strategic direction? Talk to our architecture team today.Contact Jumar
Call Jumar Technology on 0121 788 4550 or contact us online today.