Tag: Insurance

We’re excited to announce the AWS Cyber Insurance Competency, which makes it easy for customers—particularly Small and Medium Businesses—to find affordable policies from insurers that integrate their security posture assessment through a new, simplified customer experience with AWS Security Hub. AWS Cyber Insurance Competency Partners worked with AWS to digitally transform their assessment and onboarding process, which rewards customers that present a security posture following AWS best practices.

Increased competition, labor shortages, and changing customer expectations have forced organizations to rethink their document-based processes. Learn how Hyperscience addresses the limitations of legacy automation solutions to help insurance agencies optimize document processing. Explore how incorporating machine learning into automation solutions leads to greater end-to-end automation, more engaging work, and better business outcomes.

Usage-based insurance (UBI) programs are supported by telematics and collect data about vehicle usage and driving behaviors, including speeding, harsh braking, and acceleration. Learn about a vehicle telematics solution from Globe Cascadeo and how it can be leveraged by insurers and drivers for usage-based insurance. This post also covers the benefits and tradeoffs of UBI and touch upon other potential use cases for this solution.

In the post-pandemic era, however, consumers are increasingly less likely to interact with agents in traditional ways. By following the creed of “intuition engineered” while partnering with Unqork and AWS, Cognizant developed a new consumer interaction model to life. Learn how the Cognizant eApp Collaboration Solution, built on Unqork’s codeless development platform using AWS serverless architecture, brings increased engagement and productivity to the virtual new business experience.

Insurance companies need a solution to effectively manage vehicle insurances provided to their end customers, and telematics solutions are used to monitor and manage these fleets. Learn how IBM developed Telematics Hub that focuses on risk analysis, crash and claim management, and more. The solution can be extended to additional use cases and integrate with many third-party IoT devices and applications for vehicle data collection.

Group insurance companies need to provide higher service levels to their stakeholders—employers, employees, brokers, other ecosystem partners, and their own insurance personnel—to remain competitive. Using Vitech’s V3locity Application Service allows group insurance companies to exceed the necessary service levels (short-term and long-term) while offloading the management of the associated application and infrastructure services to Vitech, through its collaboration with AWS.

Verisk provides data analytic insights to customers in insurance, energy and specialized markets, and financial services. Learn how a joint team from AWS and Verisk Argus migrated petabytes of SQL Server data from on-premises to Amazon S3 and Amazon S3 Glacier using AWS Snowball Edge and the Amazon EMR custom Spark ingestion framework. Through this migration framework, Verisk Argus is positioned to save millions of dollars by moving to AWS from their data center.

Montoux’s next-generation decision science platform for insurers uniquely combines actuarial and data science in its software, providing a modern, flexible, and sophisticated alternative to legacy actuarial software. Learn how the AI-driven model replication module is specifically developed to support an insurer’s transition to cloud and reduces the time, cost, and effort required to migrate to a new platform.

By avoiding inspections, insurers lose the opportunity to adequately consider all factors during underwriting and take on more risk. TCS has built a virtual inspection solution on AWS that is customizable to various inspection use cases, such as home insurance inspections and claims, auto claims damage assessment and estimation, and mortgage inspection. This post provides an overview of the TCS virtual inspection solution, describes the high-level architecture, and explores the potential business benefits for insurers.

ISVs servicing the insurance industry can take advantage of AWS infrastructure and services to architect solutions that meet these needs, without requiring large up-front capital expenditures. Insurity ClaimsXPress is a claims management system built on AWS that provides a redundant, secure, multi-region architecture. In this post, we will outline how Insurity has architected their ClaimsXPress solution on AWS to deliver an enterprise-grade SaaS solution for the commercial insurance market.