Harness the power of digital thinking to modernize back-office systems and revamp the customer experience in insurance.
It’s Time For Transformation
With data, algorithms and changing customer expectations redefining the industry, the insurance business will look very different five years from now. The goals you envision today—and your ability to execute that vision effectively—will determine your future competitiveness.
The insurance industry estimates that leakage, defined as the difference between what is paid out on a claim plus expenses and what should have been paid, is from 5% to 10% of claims paid annually. Leakage is attributed to a lack of adherence to industry best practices, in other words, missteps committed by the adjuster handling the file.
The Insurance AI Imperative
The insurance industry – from product development to underwriting to claims – is being fundamentally transformed by AI technologies. Although some companies are investing aggressively in AI to slash costs while also enhancing the customer experience, most insurers will need to accelerate their efforts or risk discovering that it has become too late to catch up.
We help insurers improve their claims management using advanced software applications and benefiting from analytics, artificial intelligence, mobility cloud, and augmented reality.
AI and AR can allow the processing of most personal and small business claims to be automated, substantially reducing operating costs. Many insurer use image recognition software or computer vision to settle auto claims without the need for a visit from an adjuster, using these technological advancements adjusters can concentrate on analyzing complex claims and investigating potential instances of fraud.
Advancements in big data, text analytics and business rules technologies now allow claims executives to have better claim management. Namely, they can audit claims in progress against a broad range of criteria, to identify missteps as they’re occurring and allow for course correction prior to settlement.
Our Key Differentiators
Dedicated practice to deliver services and solutions specially designed for the Insurance industry
1100+ person years of experience in delivering Insurance technology services.
Strong Technology Expertise on Microsoft, Open Source, Oracle, Cloud & Mobility.
50+ Software projects delivered globally for insurance companies, 20+ Insurance Customers from Insurance Industry
Strong experience in Property Insurance into Claims Management, Inspections and Reporting
Capabilities in cutting-edge technologies like AR, AI, Machine Learning, and Voice Tech
What our clients say
WBPRO software applications are used by some of the worlds biggest enterprises. See what our clients have to say about our high-quality development services helping them transforming their organization.
“WBPRO’s software expertise coupled with their collaborative and innovative company culture made them a perfect fit to handle all our software development needs. The team assigned to our projects is extremely committed to our success, highly knowledgeable, hard-working, detail-oriented, and always open to constructive feedback, making our business relationship both effortless and pleasant”
CEO, National Water