Information Services Group (ISG) (NASDAQ: III) has announced the release of Lens Insurance Digital Services Report, which finds US insurance companies are embracing new technologies such as artificial intelligence and drones to better serve customers, the ISG said.
Insurance carriers are looking to business process outsourcing (BPO) providers to help them roll out these advancements to improve accuracy in underwriting and claims processing. Insurers are using drones to check on property damage, and they are enabling robo advisors to provide personalized services to customers.
Insurance carriers increasingly are looking to collect data from Internet-connected devices like wearables and connected cars to calculate premiums and investigate claims, the report adds. The Internet of Things will transform and empower insurers by giving them new insights on their customers, and BPO providers can help make sense of the wealth of new data, the report says.
In addition, insurance carriers increasingly are using social media and mobile apps to interact with customers, the report says. At many carriers, purchase of insurance policies is just a click away, while social media is allowing carriers to predict and understand customer sentiments and deliver tailor-made responses.
The ISG Provider Lens Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG´s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG´s enterprise clients.
ISG is a technology research and advisory firm. A trusted business partner to more than 700 clients, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis.