The insurance industry is continually evolving to cope with consumer demand and to adapt to changes in regulation and competition.
To compete in the insurance marketplace companies must not only provide premier customer service while competing on price but they must also comply with greater regulation and the occasional natural disaster. Technology has become a driving force for insurance companies whose customers have become both increasingly informed and impatient in recent years. Improved familiarity with technology has made customers more demanding and insurance companies now need to cope with those requirements in order to be a top performer in their industry. Exagenica is showing insurance companies how to look beyond the traditional view of technology as an enabler and develop comprehensive, blended strategies that leverage powerful technologies to achieve a focused business mandate.
Accelerated Product Deployment
Product opportunities are continually presenting themselves in the insurance industry and with the aid of insightful technological solutions, insurance companies are now able to identify and respond to such opportunities more rapidly. Access to information and strong analytical platforms provide enterprises with a competitive advantage when it comes to developing new insurance products and delivering them to the marketplace. Exagenica assists clients in establishing intelligent technological platforms for insurance companies looking to gain product and customer insight quickly and outpace their competitors with innovative new offerings. Beyond the creation of new products Exagenica is helping insurance companies to enhance their digital marketing capabilities and maximise the uptake of new offerings.
Greater Customer Retention
Customer expectations are now greater than ever and with such aggressive competition between Insurance companies, customer interaction and retention have never been so important. The insurance industry is already data intensive with companies relying on data from a diverse range of sources to provide customers with an exemplary experience. Exagenica is helping insurance enterprises to build powerful analytical solutions which aggregate data from all sources and provide them with the insight they need to maximise customer retention. Our direction has enabled insurance companies to improve marketing and distribution activities using analytics to identify the right products for the right customers, shorten the sales cycle and improve the overall customer service experience.
Regulation such as Solvency II has increased significantly in the insurance and financial services industries in recent years placing a significant overhead on the resources of companies operating in the marketplace. Insurance companies faced with the myriad of potential events which can negatively impact their profitability globally must overcome the extraordinary challenge of calculating and managing these exponential risks. Exagenica’s suite of insurance industry focused technology services and solutions are helping enterprises to meet their regulatory commitments and manage risk more effectively across their operations.