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ITA Pro Weekly, April 25, 2019

Security First Insurance, Pacífico Seguros, and a LOT more news from the ITA

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Personalizing the Customer Experience

Having Coffee with Your Customers (Digitally)
Security First Insurance Personalizes
Customer Engagement


Using video animation for customer engagement is not exactly a new marketing technique. Videos today are used prominently on websites and social media channels like Facebook. But developing an animated video to explain your customer’s insurance coverage – in detail, and in a personalized way – has enabled Security First Insurance to build brand awareness, educate their customers and even share a cup of coffee with them.

Based in Ormond Beach, Florida, Security First Insurance is the second largest homeowners’ insurance company in the state. This privately held, family owned carrier services 341,000 policyholders. And these policyholders are not unlike most other insurance customers -- very few understand their policy coverage, its benefits and its limitations. So the company decided to tackle that issue by creating an animated video that was personalized to each customer.

The results were nothing short of amazing. According to Marissa Buckley, Vice President of Marketing & Brand Experience at Security First, the policyholder video has defied all current marketing principles. 

Click here for the rest of the article.

Special Report

What factors can impact the speed to market for insurers?

According to Matthew Josefowicz, president and CEO of Novarica, the factor with the clearest positive correlation to improved speed to market is the stage at which IT is involved in the process.

"IT involvement during the first phase, the ideation phase, is associated with significantly faster times to market for all lines of business, for both product modifications and for true new products," says Josefowicz. "Conversely, carriers who include IT only during implementation and testing have the slowest speeds to market. This correlation is a stronger prediction of better speed to market than any other, including systems type."

Novarica believes there are two main reasons for this...


For more information, click here.

Hot Off the Presses!

Pacífico Seguros first Peruvian insurer to select FRISS for automated claims fraud analytics

Peruvian insurer Pacífico Seguros has selected FRISS, the global provider of fraud and risk software solutions for the P&C insurance industry, to automate their claims fraud analytics processes.

Pacífico Peru is a leading insurer in the Latin American region. In a market with increasingly demanding customers, their strength is to adapt to new standards, an essential characteristic to achieve the sustainability of a company that, for 70 years, defined the objective of accompanying its clients at every moment of their life.

The automation of claims fraud analytics is the next step in the process of digital transformation at Pacífico. Their aim is to lower the loss ratio by being able to better detect fraud before claims are paid. At the same time, the project will increase customer satisfaction because sincere clients can be put on a fast lane.


For more information, click on the press release here.

 
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