Automation is radically changing the way the insurance industry operates.
And it has arrived as highlighted in this research paper on “How to use intelligent automation to better understand and serve your customers, creating superior insurance experiences” by BluePrism and Computing that features By Bits. For those looking to remain significant players in the insurance market, it is essential reading.
Hopefully, you’ll have been hearing a lot about automation in the insurance industry recently. It’s a powerful force for change that is heading the way of all insurers, particularly motor insurers and it’s something that can’t be ignored.
The global market in insurance is undergoing seismic changes, powered by customer demands just as much as by the competitive forces that have been unleashed by automation. Automated technology can also be used to help customers and for the common good. It can be used to suggest alternative routes to avoid congestion, saving time for the driver and pollution in the neighborhood of the traffic jam. It could also be used to suggest alternative times to drive a particular route to prevent excessive pollution from occurring.
By Bits is one of the leading insurtech startups in Europe and uses intelligent automation to enable insurers to build their own usage-based insurance models using the ByBits platforms. Obstacles to innovation such as legacy tech stacks and worries about time to implementation and cost are overcome with our flexible systems that are fast to deploy and highly cost-effective.
Take a look at our article on machine learning and insurance rating for more on how automation is changing the insurance industry.
If you’d like to know more about how By Bits can help your insurance organisation transform its business strategy, then get in touch for an initial discussion and to book a demonstration of our new usage-based insurance platform.