ITC 2021: New Technology for the Future of Insurance
ITC 2021 In Vegas
After having to host last year’s event virtually, ITC Vegas 2021 was filled with energy, excitement, and plenty of opportunities to share expertise about the direction that insurance is heading technologically. As a refresher, or for those who didn’t know,InsureTech Connect is the world’s largest gathering of insurance leaders and innovators and it occurs annually - this year it was hosted at Mandalay Bay, Las Vegas.
Ushur was excited to be part of the scene this year; in the news and on the agenda, where our CEO and co-founder Simha Sadasiva was part of a panel about the insurance customer experience revolution.
“It was wonderful for the insurance community to come together again in-person,” noted Simha. “The energy level was enough to light up the Vegas strip! Our booth was busy for the entire event, where we had the opportunity to meet with hundreds of attendees spanning carriers, brokers, core system providers, system integrators, and business process outsourcing companies.”
Ushur just expanded its strategic partnership with FINEOS, the leading global provider of core systems for life, accident, and health insurers. The partnership facilitates key stages in the processing of absence management using IDAM.
IDAM will now integrate with Ushur’s CXA platform, and allows for intelligent automation for both front-end customer-facing communications and also back-end internal processes. The integration will simplify anything from document upload to data integration.
Together, the Ushur-FINEOS solution provides end-to-end automation of customer journeys and delivers the information to empower a smarter, more responsive and improved customer experience.
Executive Panel: State of Insurance Customer Experience: AI, Automation, and the CX Revolution
In the last two years, technological advancement in the insurance industry has grown incrementally as carriers around the world have had to adjust to a post-pandemic vision of doing business. Advancements in conversational AI, natural language learning, and intelligent AI technologies are changing the way the insurance carriers deliver on the insurance customer experience.
Simha Sadasiva, CEO and co-founder of Ushur, led a panel of industry experts and decision makers that included Steve Rullo, EVP at Great-West Life, Jennifer Daniel VP, Premier Tech at Aflac, and Jason Andrew, Chief Alliance Officer at FINEOS, for a lively discussion about how AI and automation transforms customer experience. They discussed specific use cases and possible impactful strategies for the future, including the new solutions partnership with FINEOS.
If you made it to our booth during ITC, you may have gotten a chance to meet with Ushur’s Global Head of Insurance, Meredith Barnes-Cook, Insurance Woman of the Year. She and Ted Reed, a 37-year insurance industry veteran and former VP at Unum met with people who were interested in learning more about Ushur’s CXA platform.
Especially since throughout the conference, representatives were offering live demos in three different areas; AI-powered quote intakes, claims processing with Ushur’s Invisible AppTM, and how Ushur’s CXA platform can expedite the digital transformation of your company.
Ushur is excited to provide a robust, agile CXA platform and be part of the solution for insurance digital transformation. Let us know if you want to see it in action.
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Ushur delivers the world’s first AI-powered Customer Experience Automation™ platform that has been purpose-built, from the ground up, to intelligently automate entire customer journeys, end to end. Designed to deliver delightful, hyper-personalized customer experiences through rapid issue resolution and unified, omnichannel engagement, Ushur is the first-of-its-kind system of intelligence. It combines Conversational Automation and Knowledge Work Automation in a No-Code, Cloud-native, SaaS platform to digitally transform every step of the complete enterprise customer experience – from Micro-engagements™ to entire customer journeys.
Backed by leading investors including Third Point Ventures, 8VC, Pentland Ventures, Aflac Ventures and Iron Pillar, Ushur’s Customer Experience Automation™ solutions are currently in production at some of the leading insurance providers across the globe including Irish Life, Unum, Aetna, Cigna and Tower Insurance.
Have you ever wished that it was easier to interact with an insurance carrier? We all know that waiting on hold for what can feel like forever and scouring the Internet for answers to seemingly basic questions are major hurdles that can cause most customers to approach simple tasks, such as filing an insurance claim, with caution and dread. With Ushur’s omni-channel Virtual Customer Assistant (VCA) powered by Conversational AI, insurance carriers can automate servicing for their end users in their channel of preference. That’s why Ushur has added WhatsApp, a popular communication tool used by 2 billion people worldwide, as a communication channel.
The insurance policy is a contractual agreement that stipulates, in exchange for payment, a person or business will receive reimbursement or financial protection against losses from an insurance company. In other words, if the required premium is paid, a customer will be paid for covered damage, injury, illness or loss.
Insurance is one sector of the financial services industry which has faced challenges as it embraced the digital revolution - first by choice and then by necessity following the pandemic lockdown. Cloud computing has taken hold, but some carriers are early in exploring solutions like artificial intelligence and machine learning.Insurance companies are eager to find technologies that cannot just improve but differentiate their overall customer experience, ideally while also reducing operational expense. One specific area insurance companies are looking at closely is claims service and process automation or as Ushur likes to call it, the future of insurance.
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