5 Ways Insurance Providers Are Harnessing Innovation with Cloud Solutions

POSTED BY Amber O'Neill

More than ever before, customers are empowered to own the buying process. Their expectations of insurance providers far exceed transactional policy updates and coverage information. To engage the modern always-on customer, insurance providers, agents, and brokers must all provide a personalized experience with overwhelming convenience, and a consistent cadence of innovative offerings and services.

Fortunately, smart technology solutions can help insurers adapt quickly to this ever-changing environment by building agility into the enterprise.

Rather than stepping back, forward-thinking organizations see the change in customer behavior as an opportunity; they’re looking to update both their internal processes and their technology in order to provide a foundation for growth. Enter cloud computing. Rather than substituting existing legacy technologies, insurers can leverage cloud technologies to augment what is already in place to speed their rate of innovation.

Mature cloud technologies such as Salesforce can enable intimate customer interaction to deliver quality and improved efficiency in the sales process — either directly, or indirectly through brokers and agents. Moreover, cloud solutions speed up time to market for new products and services necessary for insurance executives, thereby enabling them to capitalize on the opportunity to position their companies ahead of competitors.
Companies of all sizes — from the largest global carriers and brokers to local, independent agents — have turned to Salesforce. They’re reaping the benefits of transitioning key insurance processes to the cloud, including:

  1. Improved Sales and Service Processes
    Coordinate every touchpoint, from inquiry to policy to renewal. Sales reps, brokers, and service representatives now all have access to a consolidated view of the customer, and full insight into customer needs. The result: ability to engage wtih customers across the lifecycle to capture new cross-sell opportunities.
  2. Tighter Alignment With Customers, Brokers, and Agents
    Integrated CRM and Communities foster real-time collaboration, thus allowing insurers to better service their distribution partners. This makes insurers easier to work with, driving agent and broker productivity and loyalty.
  3. Streamlined Development
    Cloud computing solutions make it easy for insurance companies to build powerful custom apps — all without software, hardware, or the up-front investments and long implementations of traditional on-premises solutions. This lets insurers focus on valuable resources for their core business. 
  4. Simplicity of Integration
    The Salesforce1 platform simplifies integration to back-office systems like underwriting and billing, as well as third-party tools. All business-critical information can be available at your fingertips, anywhere, anytime.                    
  5. Ongoing Flexibility
    As your business needs evolve, the Salesforce1 platform provides ultimate flexibility to customize your system, or even to build new custom applications to accomodate your business' changing needs.

Leveraging cloud technology and process innovation, organizations can bring together legacy, on-premise based systems, with cloud-based systems that by their nature are more collaborative, effective, and successful at serving their customers. Download Bluewolf’s latest Whitepaper: Insurance in the Cloud — A Customer-Focused Approach to Innovation. Learn how leading insurance providers are boosting their success strategies with the cloud.


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