Hanno van Aarde, CEO of Briisk spoke about insurance business workflow automation, while focussing on empowering intermediaries. He was joined by Fred De Beer a serial, local and global entrepreneur in the financial services space, and Stephen Motseki, an experienced player in insurance industry coming more from the UMA distribution side at Quantum Leap Risk Management.
The presentation discussed the importance of automating insurance business workflows and empowering intermediaries. It highlighted the role of technology in streamlining insurance processes and complying with regulations. Intermediaries, who perform various tasks on behalf of clients or product suppliers, are seen as crucial in connecting different business processes within the insurance industry.
The main challenge faced by the industry is the mass customization of insurance products, which adds complexity to workflows. The solution proposed by Briisk is a platform approach that allows intermediaries to develop their unique workflows and customer journeys. Creating a single customer view and eliminating data redundancies through digitization and secure data sharing are also important goals.
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The focus is on addressing the challenges faced by intermediaries in navigating technical requirements and determining which processes to automate. Briisk emphasizes the importance of data in delivering quantifiable benefits and acts as an orchestration layer between legacy systems and digitized insurance practices.
Customer experience and engagement are prioritized by leveraging digital automation. The implementation of automation solutions can be challenging in terms of time and cost, but customizable templates are provided to accelerate the process. Digital transformation is seen as necessary to meet the expectations of future customers and stay competitive.
The role of intermediaries is crucial, and their workflows should be digitized and streamlined. Insurers need to understand customer preferences, leverage technology, and align it with business requirements to succeed in the digital era.