With today's increased competition and changing demographics, the insurance industry is undergoing significant changes. Specifically, insurers are starting to sell more policies directly to policyholders rather than to third parties who then resell these policies to the end customers. This shift from a policy-centric model to a customer-centric model requires firms to take a step back and truly understand who their customers are and what they want.
As the partner of many regional and global insurers, ZenFocus understands the challenges of this evolving industry and the solutions required to meet these new demands.
TECHNOLOGY AND STRATEGY FOR INNOVATION
ZenFocus delivers innovative technology solutions that align with key strategies to help insurers meet these goals.
For example, our Insurance Excellence Framework helps insurance firms quickly and effectively implement HCM to gain more insight into agent success and redesign business processes to become more employee-focused. Our HCM solutions also help insurers move away from the flatter, policy-centric data model to a employee-centric data model by giving them tools to reach out to customers directly and provide key information, such as quote data and comparisons to competitors. With Intuitive and integrated HR applications technical tasks cut by up to 60 percent; savings allow Insurance customers to re-invest 20-30 percent of the IT budget, about 20 percent cut in annual expenses after five years.
Using Ariba, Insurance companies have realized year on year sustainable savings opportunties across the board and this has impacted our bottom line numbers positively.