Cognitive Underwriting: Reimagining insurance processes with AI/ML

cognitive underwriting blog

Underwriting decision-making has a significant impact on insurers’ business risk and profitability. The criticality of assessing and pricing risks effectively makes experienced underwriters a coveted (and expensive) resource. However, most underwriters today are struggling with mountains of data and administrative requirements. They waste precious time on incomplete applications, back and forth between multiple parties to […]

Reimagining the customer experience in insurance

customer experience in insurance

Lemonade, founded in 2015, claims to be an insurance company for the 21st century. Their bold claim? Get insured in 90 seconds and get paid in three minutes! And that’s not all. They are checking several boxes when it comes to new-age customer expectations. Their digital experience is fast, seamless, and intuitive. They offer transparency […]

Experience, efficiency, and retention: Impact of AI on claims management

claim management image

Claims management is a moment of truth for insurance companies. How they manage their claims process affects both customer retention and bottom lines. For instance, in a survey, 83% of the respondents who were dissatisfied with their claim handling said they had switched or planned to switch to another insurer. On top of that, claims […]

Platform banking: A key tool in the bank’s arsenal to stay competitive

platform-banking-blog

One of the disruptions from the COVID-19 pandemic was an unprecedented shift of consumers to online channels. As the world locked down, people had no choice but to leverage digital channels to conduct their day-to-day transactions. And most of them found they liked the ease and convenience of a digital platform. Consumers now wanted a […]

Retire with Confidence

retire with confidence

SLK co-creates a retirement app to improve the retirement planning experienceresulting in a 52% increase in savings and a 24% boost in retirement confidence.