Perficient Digital Transformation

JULY 6, 2023

A blockchain-based data model for health insurance could potentially help to improve the efficiency and security of the health insurance industry. In such a model, each participant in the network, such as a patient, healthcare provider, or insurance company, would have their own unique identity on the blockchain.

Insurance 52

Insurance Healthcare Reduced Costs Regulations 52

Perficient Digital Transformation

NOVEMBER 1, 2023

Intelligent automation and generative AI can unlock tremendous value for financial services leaders who want to optimize experiences and reduce costs. Perficient was honored to participate in the inaugural Banking, Financial Services, and Insurance (BFSI) event hosted by Kofax.

Insurance 59

Insurance Banking Robotics Process Automation Service 59

Microsourcing

DECEMBER 23, 2021

The insurance industry’s claims handling processes are quite resource intensive and claims can take a long time to process, from initiation to a decision being made. months for a life insurance claim to be accepted , 1.6 months for a trauma insurance claim and 1.5 months for a life insurance claim to be accepted , 1.6

Insurance 52

Insurance MicroSourcing Outsourcing Reduced Costs 52

Perficient Digital Transformation

JULY 19, 2023

One such industry that will be forced to utilize AI solutions to gain a competitive advantage is the regional insurance carrier industry. By harnessing the power of AI, regional insurance carriers can streamline their operations, enhance customer experience, and make more informed decisions.

Insurance 52

Insurance Automation Streamline Operations Reduced Costs 52

Magellan Solutions

NOVEMBER 7, 2022

Insurance Back Office Support Tasks for 2023. Why do people get insurance back office support? Staff and insurance firms can find it hard to keep clients happy. Insurance companies use various ways to improve their business processes. Insurance companies need back office support for a lot of reasons. IT SUPPORT.

Insurance 75

Insurance Outsourcing Out-Tasking Offshoring 75

IBM Business Partners

JUNE 23, 2023

Although interest rates have increased at an unprecedented rate over the past year due to efforts by central banks to curb inflation, insurers are locked into low-yielding investments, and it will take several years for their investment yields to improve. Core modernization (processes and technology) is a top priority for every insurer.

Insurance 56

Insurance Administrative Right-Sizing Automation 56

Magellan Solutions

FEBRUARY 20, 2021

Who Needs Insurance Outsourcing? Especially those that want to reduce costs and remove tedious repetitive tasks. As a matter of fact, insurance BPO projection within the period of 2020-2027 is at $8.3 As a matter of fact, insurance BPO projection within the period of 2020-2027 is at $8.3 Insurance Specialists.

Insurance 52

Insurance Outsourcing BPO Data Entry 52

Everest Group

MARCH 17, 2023

Managing General Agents (MGAs) and wholesalers are becoming increasingly relevant in the insurance ecosystem due to the unique advantages they have over brokers/agents. Technology and business process services (BPS) providers can help MGSs reduce costs and increase their digitization and automation intensity.

Insurance 52

Insurance Robotics Process Automation Risk Management Risk Management 52

Everest Group

JULY 28, 2024

In this report, we demonstrate how innovation will support insurers dual agenda of in achieving reduced costs, improved efficiency, and maximum growth.

Insurance 59

Insurance Marketing Reduced Costs Efficiency 59

Metasource

NOVEMBER 30, 2021

Insurance companies manage daunting amounts of paper mail daily, such as claims, checks, grievances and appeals (G&A) , and enrollment forms. With an outsourced digital mailroom, your employees will gain the following benefits: Reduce costs on filing and storage. Experience You Can Trust for Insurance Digital Mailrooms.

Insurance 52

Insurance Outsourcing Reduced Costs Customer Service 52

3Pillar Global

MAY 3, 2024

They collectively insure ~130 million Americans, including nearly half of the employer market. I’ve also conducted numerous interviews with self-insured employers and the brokers they partner with. New technology is often a primary driver of disruption in health insurance, accelerating both product and business model innovation.

Insurance 104

Insurance Healthcare Co-Sourcing Administrative 104

Everest Group

MARCH 23, 2023

Capital Markets Operations – Services PEAK Matrix® Assessment The capital markets operations landscape is rapidly evolving as enterprises strive to meet the demands of a new generation of customers, reduce cost pressures in a recessionary environment, and adhere to regulatory changes.

Marketing 98

Marketing Robotics Process Automation Service Insurance 98

Perficient Digital Transformation

JULY 3, 2024

Reduced Development Time : Build UIs and workflows with minimal coding, enabling faster time to market. Reduced Costs: Minimize development costs compared to traditional coding approaches. In the following image, you see an OmniScript walking a customer through several steps to select an insurance policy.

Insurance 111

Insurance Sourcing Automation Reduced Costs 111

Everest Group

MARCH 13, 2024

With more than 70 million individuals in the US engaged part or full-time in the gig economy, the notable lack of workplace benefits and life insurance coverage for these flex workers has sparked widespread debate. Options may include health insurance, retirement plans, disability coverage, and more.

Insurance 59

Insurance Administrative Flexibility Reduced Costs 59

Everest Group

MARCH 23, 2023

Capital Markets Operations – Services PEAK Matrix® Assessment The capital markets operations landscape is rapidly evolving as enterprises strive to meet the demands of a new generation of customers, reduce cost pressures in a recessionary environment, and adhere to regulatory changes.

Marketing 86

Marketing Robotics Process Automation Service Insurance 86

Accenture Insurance

NOVEMBER 20, 2014

Low interest rates, increased competition, sales channel pressures, legacy technology and proliferating regulations are all putting insurers under pressure to reduce costs and increase operating efficiencies. Enabling Agile Insurance Finance and Risk through Shared Services Part 1: The Pressure is on for Insurance CFOs.

Insurance 40

Insurance Shared Services Finance Reduced Costs 40

Magellan Solutions

FEBRUARY 14, 2024

Benefits of Healthcare Call Center Outsourcing Companies in the Philippines Cost savings – Outsourcing to overseas call centers in countries like India and the Philippines can significantly reduce labor costs for US healthcare providers and insurers. This improves customer satisfaction.

Call Center 98

Call Center Healthcare Outsourcing Insurance 98

SourceFit

APRIL 28, 2016

The global banking, financial services and insurance (BFSI) outsourcing market is expected to be worth more than $277 billion by 2020, according to a recent report released by Technavio. EMEA is also an important capital market and insurance business process outsourcing (BPO) location. Staff Leasing Philippines.

Insurance 40

Insurance Banking Outsourcing Service 40

3Pillar Global

JULY 15, 2024

Here’s where health insurance companies are poised to step up and truly become consumer-centric. By empowering patients with clear and accessible information, they can help them: Make sense of health insurance: Many patients struggle to understand the nuances of their plans, from coverage details to out-of-pocket costs.

Healthcare 52

Healthcare Insurance Call Center Reduced Costs 52

3Pillar Global

MARCH 14, 2024

When patients or members interact with your digital platforms, they’re engaging in transactional experiences—scheduling appointments, checking results, verifying insurance coverage, etc. In the end, it can reduce overhead—which reduces costs both now, and in the future as your organization grows. Financial benefits.

Healthcare 98

Healthcare Reduced Overhead Insurance Right-Sizing 98

Perficient Digital Transformation

NOVEMBER 15, 2024

Burnout can lead to increased medical errors, compromised decision-making, and diminished patient-provider relationships, directly impacting the experience and outcomes for patients and potentially increasing insurance premiums and out-of-pocket expenses for members. Read More: Is Your Healthcare Organization Really Product-Driven?

Healthcare 52

Healthcare Insurance Regulations Analytics 52

Perficient Digital Transformation

NOVEMBER 15, 2024

Burnout can lead to increased medical errors, compromised decision-making, and diminished patient-provider relationships, directly impacting the experience and outcomes for patients and potentially increasing insurance premiums and out-of-pocket expenses for members. Read More: Is Your Healthcare Organization Really Product-Driven?

Healthcare 52

Healthcare Insurance Regulations Automation 52

Hyland

OCTOBER 31, 2022

Claims has been a top concern for property and casualty insurers , especially with recent events such as the COVID-19 pandemic and the ongoing threat of natural disasters. Claims in sectors like auto insurance increased in severity in recent years. Excessive processing can introduce delays and compound the cost of a claim.

Efficiency 52

Efficiency Insurance Analytics Sourcing 52

IBM Services

JANUARY 15, 2024

As an insurance company integrating technology into the new development landscape, BoB-Cardif Life Insurance Co., As an insurance company integrating technology into the new development landscape, BoB-Cardif Life Insurance Co.,

Efficiency 72

Efficiency Insurance Robotics Process Automation Automation 72

Perficient Digital Transformation

OCTOBER 24, 2024

This mitigates the risk of customer service representatives providing incorrect information and ensures compliance with regulatory disclosures, ultimately enhancing the overall customer experience while reducing costs.

Regulations 52

Regulations Service Banking Cybersecurity 52

Perficient Digital Transformation

NOVEMBER 1, 2024

The Treasury Department noted that AI provides opportunities for financial institutions to improve efficiency, reduce costs, strengthen risk controls, and expand impacted entities’ access to financial products and services.

Regulations 52

Regulations Service Cybersecurity Banking 52

IBM Services

OCTOBER 30, 2023

The retailer uses these insights to optimize inventory levels, reduce costs and enhance efficiency. A leading insurance player in Japan leverages this technology to infuse AI into their operations. AWS’s scalable infrastructure allows for rapid, large-scale implementation, ensuring agility and data security.

Analytics 83

Analytics Retail Insurance Streamline Operations 83

Perficient Digital Transformation

OCTOBER 25, 2024

Reduce costs associated with legacy technologies and systems.” Our solutions are uniquely tailored to reduce costs associated with maintaining legacy systems, helping businesses optimize their IT budgets while focusing on growth. Gain access to technical and transformational skills and capabilities.

Managed Services 64

Managed Services Management Service Reduced Costs 64

Paysquare

AUGUST 5, 2024

The payroll industry in India is regulated by a complex network of national and state laws & regulations which includes labour laws, income tax, provident funds, and employee state insurance. The Employees’ Provident Fund Act, Employee State Insurance Act, Payment of Bonus Act, and Income Tax Act are important central laws.

Payroll 52

Payroll Service Insurance Regulations 52

Perficient Digital Transformation

MARCH 12, 2024

Focus on Clinical Outcomes and Cost-Effectiveness New entrants are moving away from merely processing claims to demonstrating improved health outcomes and reduced costs for plan sponsors. In my next blog, I outline ways payers and self-insured organizations can navigate this transition. We’re here to help.

Management 52

Management Healthcare Analytics Insurance 52

Groove Technology

MAY 18, 2023

Healthcare: MuleSoft helps healthcare organizations integrate electronic medical records (EMRs), patient portals, insurance systems, and other healthcare-related applications to improve patient outcomes, reduce costs, and enhance the patient experience.

E-Commerce 130

E-Commerce Supply Chain Management Government Banking 130

Groove Technology

SEPTEMBER 26, 2024

This model is particularly popular among companies looking to reduce costs while dramatically accessing a vast talent pool. Companies can accelerate their growth and digital transformation efforts by leveraging global talent, reducing costs, and focusing on core business activities.

Software 130

Software Outsourcing Offshoring Nearshoring 130

Perficient Digital Transformation

SEPTEMBER 6, 2023

intermediate holding companies of foreign banking organizations , and certain insured depository institutions. Impacted organizations include certain large depository institution holding companies , U.S. Comments must be received on or before November 30, 2023.

Regulations 52

Regulations Banking Insurance Reduced Costs 52

Magellan Solutions

FEBRUARY 15, 2024

Here are some of the benefits of healthcare call center outsourcing in the Philippines: Cost savings – Outsourcing to overseas call centers in countries like India and the Philippines can significantly reduce labor costs for US healthcare providers and insurers. This improves customer satisfaction.

Call Center 52

Call Center Healthcare Outsourcing Insurance 52

Everest Group

OCTOBER 1, 2022

Low code/no code development holds promise for banking, financial services, and insurance (BFSI) firms to gain agility and cost-effectively build innovative technology solutions – without needing professional developers who are in short supply. Reduced cost by having internal teams for development and maintenance.

Insurance 59

Insurance Banking Reduced Costs Collaborations 59

Metasource

NOVEMBER 4, 2024

Claims Processing Claims processing requires insurance companies to handle a variety of documents, including claims forms and medical records. An example of these benefits can be found in almost any department in almost any organization in almost any industry.

Robotics Process Automation 52

Robotics Process Automation Reduced Costs Data Entry Risk Management 52

Automation Anywhere

NOVEMBER 23, 2021

Process insurance claims Processing health insurance claims is a task that must be done with precision. And it does add up in billing and insurance-related (BIR) costs annually paid by healthcare providers and patients. It is usually done manually, which can result in an error rate of up to 10%, causing rework.

Healthcare 80

Healthcare Automation Robotics Process Automation Administrative 80