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INDUSTRY SOLUTIONS | INSURANCE
XpertSHARE is used to integrate access to a human expert (and supporting documents) into insurance processes – when the knowledge, experience and judgment of an actual human being is needed – in context and on demand.
There are many insurance industry examples: customer sales and support, application submission, risk underwriting, claims adjudication and training.
Learn about the IBM, Cisco, and XpertUniverse Alliance for the Insurance Industry.
The following white paper –Expert on Demand: transforming the insurance carrier into an integrated multichannel sales and service organization,
explores how XpertSHARE can improve existing insurance processes.
Claims Adjudication
For insurance companies, prompt, accurate and cost effective claim settlement is crucial to profitability. In an industry where the true cost of claims will only be known long after the individual risk is priced, on demand access to cutting-edge claims expertise during the adjudication process can reduce leakage and provide a competitive edge.
XpertSHARE™ delivers insurance claims value in two primary ways:
1) Enables improved claim adjudication on an individual case basis; and,
2) Enables real-time claim data collection to impact claim policy, reserving and exposure pricing.
| For XpertSHARE - Claims Adjudication Value Proposition PDF |
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| For Expert on Demand – Catastrophe Claims Applications PDF |
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Risk Underwriting
Quality underwriting is all about profitably assuming risk in exchange for the premium paid. Ultimately, it is the underwriter, through expertise, experience and judgment, who determines how to make a risk acceptable and profitable – through the proper combination of risk assessment, rates and coverage terms and conditions.
Field risk underwriting can be strengthened by on demand access to critical experts, such as referral underwriters or engineers, who might be centralized in headquarters or working within a virtual community focused on specific exposures – to facilitate appropriate and prompt decision-making.
For the insurance company, sound risk underwriting and pricing – driven by access to the best expertise - is critical to profitability. In an industry where the true cost of risk will only be known long after the individual risk is priced, on demand access to cutting-edge underwriting, loss control or risk management expertise during the underwriting process can provide a competitive edge.
XpertSHARE delivers insurance underwriting value in two primary ways:
1) Enables improved underwriting on an individual risk or case basis; and,
2) Enables real-time data collection about the book of business and underwriting quality and practices
| For XpertSHARE - Underwriting Value Proposition PDF |
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© 2006 XpertUniverse, Inc., All Rights Reserved.
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