An Omnichannel InsurTech Solution for the Digital Risk Inspection

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Digital transformation across industries has led to a rapid business innovation environment. This offers the augmented opportunities for new capabilities and initiatives. The rapid development of digital technologies is making organisations rethink their business models and processes and focus on what the key success factors of digital transformation are. To investigate the opportunities behind these trends and make a sound prediction of their further development, it is necessary to understand the evolution of technology and create a scalable digital journey encompassing a well-defined digital strategy and a customized approach.

Along with digital transformation, it is important for organisations to also manage risks and to drive value from their digital initiatives. For example in the insurance industry, before binding a policy, organisations in the field must determine the price of the risks they insure.

Take a look at our Digital Risk Inspection concept in the video below.

What we’ve built is an omnichannel solution which means we can use the same app for different flows such as Corporate or Retail and different users such as the risk engineer or the sales force. The forms are organized in a guided flow leading to an intuitive, unique, and personalized customer experience.

The risk inspection made by an insurance company refers to the assessment of the item to be insured which is done according to the risks that will be covered by the insurance policy. Thereby, as part of the traditional risk inspection, photographs are taken and inspection reports are drawn up in which the information found and the general condition of the good is completed.

Benefits of using a digital software solution to perform the risk inspection

Replacing paper-based inspection checklists with self-service digital forms help optimize internal business processes. Converting traditional forms written with pen on paper to a digital inspection software solution can improve not only operational efficiency but will also create a superior customer experience.

The digitization of the risk inspection process has many advantages and we can help you achieve this level of value by thinking in a disruptive manner:

  • real-time object detection for collecting evidence on-site;
  • biometric signature;
  • video assistance feature.

How can Softelligence help you?

At Softelligence we empower organisations to manage multiple dimensions of risk on several platforms of your choice such as the FintechOS platform, INSTANDA or Microsoft Power Apps and quickly implement industry-standard digital processes informed decision-making, and enhanced business performance.

With the digital risk inspection, we empower the customer to protect the business not just to bind the policy, by creating a customized 100% digital report with the use of a biometric signature.

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Further reading:

How does the 5th EU Anti-Money Laundering Directive impact the digital identity verification process »

How electronic signature technology enhances business processes »

Biometric Authentication with Facial Recognition Technology »

Digital identity solutions – Know Your Customer (KYC) in the digital age »

Getting to know Optical Character Recognition (OCR) solutions for digitizing information »

Explore our solutions and services:

Data-Driven Underwriting Software Solutions· Claims Management Software Solutions · Machine Learning Services · Who We Are

 

Resources:

  • https://www.mckinsey.com/business-functions/risk/our-insights/digital-risk-transforming-risk-management-for-the-2020s
  • https://www2.deloitte.com/content/dam/Deloitte/in/Documents/risk/in-ra-managing-risk-in-digital-transformation-1-noexp.pdf

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