Insurance

Increase your operational efficiency with intelligent insurance business process automation

IDC REPORT: DIGITAL TRANSFORMATION THROUGH STRATEGIC OUTSOURCING

Leading organizations are leveraging strategic outsourcing to navigate evolving market challenges and achieve operational excellence. While cost savings were once the primary driver, outsourcing is now a catalyst for innovation, agility, and growth.

A trusted outsourcing partner helps businesses streamline processes, harness cutting-edge technology, and access specialized expertise. Beyond efficiency, outsourcing empowers organizations to scale, optimize resources, and accelerate digital transformation.

Explore how outsourcing can drive AI-powered innovation and business success in the latest report on Digital Transformation and Operational Excellence by IDC & SPS.

Get deep insights about Digital Transformation & Operational Excellence through Outsourcing.

13 March 2025

of global insurers are forecasting a significant disruptive impact of AI on their competitive positions (IDC Fers Survey - Wave 1, April 2024)

of insurers have increased their budget for external IT consulting and implementation services (IDC Fers Survey - Wave 1, April 2024)

more value for insurers that integrate AI with FinOps from their IT investments, driven by informed automation at scale

BPS AND AUTOMATION SERVICES FOR THE INSURANCE INDUSTRY

With unpredictable and uncontrollable external factors, insurance companies must control their risks and ensure that business operations are running efficiently. Evolving marketplace challenges are leading insurance businesses to outsource their non-core business processes to third parties - allowing them to automate their non-human-centric operations.

SPS enables insurers to become digital insurance enterprises. We identify opportunities for automation that streamline manual tasks, improve customer response times, reduce running costs, and enhance service quality.

Discover how AI is transforming insurance by automating processes, improving decisions, and tackling challenges like data quality and ethics. See real-world examples of reduced manual effort, advanced fraud detection, and trends like hyper-personalization. Unlock the future of insurance - read our Executive Summary of the whitepaper today!

SPS, in collaboration with the Insurance Forums Leipzig, presents an exclusive whitepaper.

23 December 2024

THE BENEFITS OF AUTOMATION FOR THE INSURANCE INDUSTRY

Efficient claims processing

Automated insurance processes become standardized, resulting in faster document processing times

Regulation Compliance

Utilizing software and machine learning to streamline data, thereby reducing errors, and improving compliance.

Improved Customer Experience

Digital document management and omni-channel customer communication all make for faster claims processing.

Lower Operational Costs

By digitizing internal business processes, skilled teams can focus on core competencies and non-human-centric tasks can be automated.

Higher Profit Margin

RPA software for insurance industries reduces the need for office resources and increases productivity per employee.

DBS KEEPS MILLIONS OF WORKPLACES SAFE IN PARTNERSHIP WITH SPS

The challenge: Workplace protection. The Disclosure and Barring Service (DBS) manages a crucial service to ensure the UK’s population is protected, utilising the support of reliable suppliers – such as SPS.
Solution: Secure Processing. SPS processes both DBS’ incoming paper applications and outbound certificates, delivering both from a specialised and secure site.
Benefits: 99.9% SLA on over 150,000 annual applications and 7 million certificates each year.

Download our whitepaper and learn more about this case study!

Secure processing of 7M+ annual checks ensures safe workplaces. 99.9% SLA consistently exceeded.

2 minutes

09 March 2023

THE TRANSFORMATIVE IMPACT OF AI AND GEN AI ON THE INSURANCE INDUSTRY

Gen AI, holds the potential to revolutionize the insurance industry by merging human creativity and ways of interpreting data with artificial intelligence. Unlike traditional technologies, Generative AI goes beyond optimizing existing data. Not only can it infinitely combine data sets, but it also learns from it which is different than other types of automation. With this capability, Gen AI will provide novel and creative outputs for any user.

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LISTEN TO OUR PODCAST

When Insurance relies on AI

We explore how artificial intelligence is reshaping the insurance industry and its impact on decision-making, process automation, and customer experience. Hear from industry experts as they discuss the challenges and opportunities AI brings to the future of insurance.

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