While insurance has been around for quite a while and the majority of people use it for their home, life, vehicle and health, consumers often find the customer experience (CX) in the industry shaky at best. According to Forrester Research, the CX provided by insurers is among the lowest in any industry. So, what
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While 2018 witnessed the expansion and exploration of insurance technology (InsurTech) in real time, the focus in 2019 is all about engagement and relationships. The booming InsurTech industry hit a quarterly financing volume of $1.2 billion in Q3 of 2018 - up $749 million already from Q2. 2019 promises a new horizon for digital
You would be hard pressed to find an industry in the world that technology has not impacted and the insurance industry is no exception. In fact, technology has completely reshaped insurance and given rise to what is now known as InsurTech. Time is money and using technology to improve efficiency across various insurance operations
In the insurance industry, big data analysis is how companies gain insights into every facet of their operation. From consumer behavior to the ROI of marketing campaigns, insurers want to be able to leverage the information to turn big data into actionable and revenue generating steps. Being ahead of the curve is key when
Technological advancement has caused ripples in various industries and the insurance sector is one of them. Insuretech is a revolution that cannot be ignored as it promises to change the operations of the insurance industry. So, do you know what insuretech is? Insuretech simply refers to the various technologies that have an impact
Penguin.Tech knows how to deliver a proven, smaller payload to improve the customer experience and compress valuable timeframes so insurance companies and agents can generate online quotes faster to secure new customers more quickly. The team at Penguin.Tech understands that time is money for their clients, the insurance carriers and their agents, so they’ve
Penguin.Tech leverages the vast benefits of implementing the ACORD model to create a unified language that can transform everyday Insurtech operations from reliable and steady to reliable, quick, and efficient. The business benefits quickly become obvious as costs are reduced, productivity is enhanced, and profits are increased. Penguin.Tech uses ACORD for a full stack
Here at Penguin.Tech, we drive home an “all-or-none approach” when implementing ACORD specifications. We know our clients benefit the most from our services when we implement ACORD specifications throughout the organization in a unified fashion. It is a value-add to insurance companies and ensures an unsurpassed stabilization to the infrastructure. ACORD can be
Digital acceleration, enhancement, and distribution plans are a must technical initiative for today’s property and casualty insurers. 2019 projections are estimating that about four out of five property and casualty (P&C) insurers either have, or are planning to set up, wholly digital sales processes in which humans are involved only when customers need
The insurance sector is on the cusp of a digital revolution that will redefine how it operates. By integrating Penguin.Tech’s advanced digital technologies and ACORD Standards, with leading core insurance platforms, like Duck Creek Technologies, we can help reshape the way the industry operates and find more efficient and effective ways for