Disrupt or Die:Why P&C Carriers Must Innovate Their Operations

Disruption is Happening...Like It or Not.

E&Y reports that 2016 will be a year of disruptive change, as P&C insurers respond

to changing customer demands and operational realities.

Rising Customer Expectations

From Uber to Esurance, customers live in an on-demand world. They are accustomed to easy access to products and services when

and where they want them.

Tepid Economic Conditions

P&C insurers should do fine in 2016, but the forecast is lukewarm at best. ROI is

predicted to dip due to competitive pricing and other factors.

Other Forces Impacting P&C

Customer expectations and the economic forecast aren’t the only disruptive forces. At

play, too, are technology, pricing, and increased regulations.

Disruption: What Not to Do

Change is scary. But that’s beside the point. Change is happening. In an every more

fiercely competitive insurance landscape, carriers that embrace change will trounce those who bury their heads in the sand.

Cautionary Case: Blockbuster

Rejecting a partnership with Netflix may have seemed prudent for Blockbuster back

in 2000, but only one company remains standing. The lesson? Like Netflix, be

unafraid to disrupt existing business models in favor of newer, more fruitful ones.

Cautionary Case: Wang Labs

Once an S&P leader, Wang Labs fell by the wayside as it stalwartly clung to existing

business lines (word processors), rather than focusing on the future of customer demand

(computers).

It’s Simple. Innovate or Die.

P&C insurance companies that innovate will realize:

• Improved scalability• Greater efficiency and productivity• Increased opportunities and profits• Higher customer satisfaction and loyalty• Decreased operating costs

Making the Case for Disruptive Innovation

Scalability

Scalability is about offering solutions that operate at home and abroad, and across

every device.

Efficiency

Adjuster EfficiencyTime toSettlementCustomer Sat./Loyalty

Productivity

Mobile has transformed business productivity. Employees can work anywhere,

any time, and on almost any device.

Increased Opportunities and Profits

The cloud lets you say “yes” more often. Use it as a new engine for business growth.

Customer Satisfaction and Loyalty

CycleTimeCustomerSatisfaction

Operating Costs and Expenses

Lowered operating costs due to cloud computing was once hype. It’s been proven true over and over again the past few years.

What Will You Do?

Pristine EyeSight: How it Works

E Y E S I G H T

SECURE

AUDIO &VIDEO

SECURE AUDIO &VIDEO

Pristine EyeSight enables field adjusters to get the help they need from expert colleagues on demand. Through live video on any device (even Google Glass), back-office desk adjusters can remotely train staff, offer second opinions, or

handle paperwork.The result? The claims team operates more efficiently, and settles claims

faster.

Expert Back-officeDesk Adjuster

Junior/GeneralistField Adjuster

How Inspectors Use EyeSight

1

2 Expedite Risk Management Operations

Streamline Claims AdjustingEasy access to remote experts reduces the need for specialist travel, reducing travel cost, and boosting efficiency. Additionally, using desk adjusters to handle back-office writeups frees field adjusters to perform other, more productive tasks

By enabling risk management professionals to follow along with claims adjusters in the field, you can cut out huge costs associated with quality control.

3 Exponentially Increase ScalabilityWith “eyes on” a problem via video, the most senior specialists can be in more places at once without wasting time in transit, increasing their functional productivity.

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See EyeSight in action.

Call 855-545-3777, or schedule a demo.