Billing is Critical Part of Insurers’ Customer Engagement Strategies: Novarica Market Navigator
Insurers should have a clear understanding of their intended use case and whether their needs are best served by a Core-, CCM-, or DXP-CRM platform: Novarica
Boston, MA (Oct. 27, 2020) – At least half of insurers now consider billing to be a customer service issue rather than a purely financial issue. Online self-service is a baseline expectation of competent providers, and more consumers than ever expect mobile self-service; these factors make billing a critical component of digital transformation. In its latest Novarica Market Navigator, Property/Casualty Billing Systems, research and advisory firm Novarica provides an overview of the available stand-alone billing systems for US property/casualty insurers, as well as detailed profiles of 15 vendor solutions.
“Modern property and casualty billing solutions are maturing, giving insurance carriers better options for modernization,” said Martina Conlon, Executive Vice President of Research and Consulting and co-author of the report. “Insurers want to create ‘retail-like’ experiences as customers now expect ease of use and self-service even for complex transactions.”
Each profile summarizes the vendor organization, technology, differentiators, client base, supported lines of business, deployment options, implementation approaches, upgrades/enhancements, and key functionality. Vendors profiled include: Axiom, Billing Management Services, Decision Research Corporation, Duck Creek Technologies, DXC Technology, EIS, Guidewire, Input 1, Insurity, Majesco, OneShield, Policy Administration Solutions, Sapiens, SpeedBuilder Systems, and Ventiv Technology.
Click here for the table of contents or to access the report.
Report Summary
With online self-service a baseline expectation of competent providers, and more consumers expecting mobile self-service, billing has become a critical component of digital transformation. This report provides an overview of stand-alone billing systems for US property/casualty insurers. The report contains profiles of 15 vendor solutions, summarizing the vendor organization, technology, differentiators, client base, supported lines of business, deployment options, implementation approaches, upgrades/enhancements, and key functionality.
Click here for the table of contents or to access the report.
About Novarica
Novarica helps more than 100 insurers make better decisions about technology projects and strategy. Its research covers trends, best practices, and vendors, leveraging relationships with more than 300 insurer CIO members of its Research Council. Its advisory services provide enterprise phone and email consultations on any topic for a fixed annual fee. Consulting services range from assessments and strategic roadmaps to vendor evaluations. For more information, visit www.novarica.com.
Source: Novarica
Tags: billing, Duck Creek, dxc, EIS Group, Guidewire, Majesco, Novarica, OneShield, Sapiens, Transformation, United States (USA)
Read the original article at Insurance-Canada.ca