Empowering Insurance Companies with In-Memory Computing
Along with most industries that rely on technology, the insurance industry faces great challenges and opportunities. Technology-powered capabilities, such as online and mobile apps, smart contracts, Robotic Process Automation (RPA), and telematics, offer new ways to engage customers, streamline internal processes and improve risk assessment. At the same time, insurance providers are challenged to meet evolving consumer expectations for instant turnaround on quotes, underwriting, and claims processing – using their digital channel of choice. Increased competition, along with economic, political, regulatory, and climate uncertainty, add to the pressure to operate efficiently and strategically.
As insurance providers seek to stand out in an increasingly crowded field, technology is a crucial part of maintaining a competitive edge. With consumers expecting instant turnaround on quotes, underwriting, and claims processing, successful providers must process transactions in real-time. They must also be able to scale their capacity quickly to meet usage growth. Plus, they need robust streaming capabilities and sophisticated analytics to help them quickly monitor and analyze the many data streams now relevant to their business.
In this new white paper from GridGain Systems, we address:
- Challenges facing today’s insurance industry,
- Opportunities new technologies can offer,
- Capabilities available with an in-memory computing platform