July 27, 2021

With experience in the insurance industry, we know how immensely necessary the push toward digitization and true intelligently automated processes is. To keep up with the changing landscape and conversation, OZ has compiled a new Insurance Industry Snapshot. Each month, expect highlights of the latest and greatest news surrounding Insurtech, Customer Experience, Claims, Underwriting, and […]

July 27, 2021

Adults make 35,000 decisions in a day. According to Cornell University, individuals make 3,500 daily decisions about food alone. It’s no wonder people have decision fatigue. A significant contributor to decision overload is not having sufficient information to make the decision. Sometimes, the opposite is true. There’s so much information it’s impossible to process it […]

July 26, 2021

Navigating Between Cost Savings and Crisis-Led Innovation Based on Real-Time Customer Data Insights Is Much Simpler The pressure valve of insurance digitization is starting to burst. Over the past five years, P&C insurers have lost an average of $4.2 billion in underwriting profit¹. Worse yet, profits on personal auto lines are expected to plummet by […]

July 25, 2021

Happy employees make happy customers. According to a Harvard Business Review article, even a slight improvement in employee satisfaction increases a company’s value by at least 7%. And, productive employees are happy employees. People want their efforts to have meaning. They want to contribute to the growth of an organization. One way for businesses to […]

July 24, 2021

Property and Casualty (P&C) insurers stand in the valleys between mountains of challenges. According to McKinsey, auto insurers have lost an average of $4.2 billion each year on underwriting profits over the past half-decade¹. Between increasing competitive pressures, unparalleled levels of uncertainty and change, and sweeping digitization, building financial resilience, growth, and innovation isn’t easy. […]

July 23, 2021

Big data, data analytics, predictive analytics. Whatever the term, the results rely on data, but not just any data. Quality data is needed for quality results. Unfortunately, many insurance companies struggle to deliver quality data in the quantities required for reliable data analytics insights. To deliver useful insights, insurers need to overcome obstacles such as […]

July 10, 2021

Imagine a dedicated worker who only cares about performing simple rote tasks accurately and speedily, a worker who needs few breaks, and those pauses are only to tweak the worker to maintain a performance level that remains high and error-free. If you can visualize such a worker, you have also described an RPA in action. […]

July 2, 2021

It is often not until we pause and take a closer look at how we run our operations that we begin to realize how many of our processes and systems are excellent candidates for automation. With an expanding embrace of Robotic Process Automation (RPA), businesses are seeing their ROI leap to new heights. Attaining a […]