(Information sent by the signatory company)
The preconfigured solution enables insurers to reduce time to prepare quotes, minimize risk, improve profitability and customer experience
MADRID, Spain, Jan. 31, 2023 /PRNewswire/ -- Appian (Nasdaq: APPN) today announced the launch of Appian Connected Underwriting. Based on the Appian Platform, Connected Underwriting enables insurers to speed up the underwriting process and improve the customer experience. The new solution uses Appian's process automation, data fabric, and low-code framework to rapidly unify data from disparate sources, streamline workflow, and reduce time to quote for new policies.
"Leveraging granular data and technology helps underwriters make better, more intuitive decisions. Appian Connected Underwriting provides insurers with an integrated solution that improves agility and accuracy. We're excited to partner with Appian to deliver Connected Underwriting and its automation technology to the firm's insurance clients," said Michael Cook, a partner at PwC. "For those getting into digital distribution, striking a careful balance between speed and accuracy is vital. The process of receiving an inquiry, assigning it to an insurer, assessing the risk, and delivering a quote back to the prospect is based on extensive range of data and technology."
Building on over a decade of working with leading insurers, Connected Underwriting enables insurers to streamline underwriting processes with connected, automated workflows.
According to a recent study by Accenture, insurers currently spend 40% of their time on non-essential activities, which represents a loss of efficiency of between 85,000 and 160,000 million dollars (between 78,000 - 147,000 million euros) in the next five years. With Appian Connected Underwriting, insurers can eliminate redundant manual data entry and improve procedural efficiencies through Robotic Process Automation (RPA), Intelligent Document Processing (IDP), and Artificial Intelligence (AI). This allows insurers to focus on higher-impact tasks, while improving customer and broker service, increasing the speed of quote preparation - to win and retain more clients - and powering seamless processing with insight. holistic.
"Improving underwriting efficiency and data-driven risk assessment is especially important in the current economic climate. Inflation is increasing our clients' claims costs in most markets, making underwriting processes optimized and connected become more important," says Sanat Joshi, senior vice president of industry products and solutions. "We are delighted to be able to offer a solution that allows insurers to quote and write policies faster with the same number of resources, offer a better customer experience and improve their quote ratio."
Appian Connected Underwriting is part of a suite of solutions that work together to help insurers rapidly modernize their insurance process. For more information, visit appian.es/insurance.
About Appian Appian is the unified platform for change. We accelerate clients' businesses by discovering, designing and automating their most important processes. The Appian LowCode Platform combines the key capabilities needed to get the job done faster, Process Mining Workflow Automation, into a unified low-code platform. Appian is open, enterprise-grade, and trusted by industry leaders. For more information, visit appian.es.
Follow us on Appian Iberia: Twitter, LinkedIn
Logo - https://mma.prnewswire.com/media/1488235...
View original content: https://www.prnewswire.com/news-releases/appian-lanza-connected-underwriting-para-ofrecer-a-las-aseguradoras-mas-agilidad-y-precision-301733703.html