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Future-proof your business with SpearSuite™, the flexible, AI-enabled core insurance platform. Core insurance platforms are the digital foundation of an insurer’s operations. Discover how next-gen platforms support billing, claims, policy, and analytics—while delivering faster innovation & improved customer experience.
How AI-Powered Insights Are Reshaping the Future of Insurance AI & analytics for insurance are no longer future trends—they are essential tools for insurers looking to compete and grow in today’s data-driven market. As carriers face pressure to lower costs, streamline operations, and deliver better policyholder experiences, artificial intelligence (AI) and advanced analytics provide the […]
Claims Handling Expenses: The costs associated with processing and administering claims, including personnel, technology, and overhead expenses. These expenses directly impact an insurer’s bottom line, making it essential to find ways to minimize expenses while maintaining high-quality service in order to remain competitive in the market. While most insurers have already made considerable efforts to […]
The average Customer Satisfaction Score in the insurance industry can vary depending on factors such as the type of insurance (life, health, auto, etc.), the region, and the specific company. However, in general, the insurance industry tends to have average customer satisfaction scores ranging from around 75% to 85%. This can be influenced by factors […]
Claims Leakage is defined as the extent of financial loss due to errors, inefficiencies, or fraudulent activities in the claims handling process. And while that definition is well known to insurers who track their business closely, how to reduce or eliminate that leakage is still a challenge. Why is eliminating claims leakage so important? Even though […]