Reshaping the Future of the Insurance Industry

Insurance customers want to interact with their carriers when and where they want. But carriers need help from insurance solution providers in creating new opportunities to engage with their prospects and customers across all platforms in ways that meet their clients' demands. Sutherland’s customer experience labs help carriers design a process for a multi-channel seamless journey by using a Design Thinking approach that helps carriers understand and prioritize the desires of the people they are designing products, services, and experiences for. This ‘outside-in’ methodology redesigns the customer engagement journey for a seamless and improved customer experience.

As carriers seek to expand their distribution capabilities, they need insurance solution providers partners who understand that no two customers are alike. Carriers need to create an “open door” for every customer. From licensed agents to chatbots to conversational AI, Sutherland provides industry-leading customer engagement capabilities and end-to-end digital transformation services to standardize and streamline the entire policy acquisition and distribution process. We help carriers increase conversion rates, decrease turnaround times, reduce the cost of policy acquisition and create a unified experience for both agents and customers.

Insurance carriers seek to optimize the underwriting process for efficiency, speed and accuracy. Sutherland’s digital-first approach simplifies the efforts necessary in underwriting and pricing decision making. Our solutions based on analytics and AI facilitate application review, assess risk exposure and compute premiums. We combine our industry expertise with technology to fast-track the underwriting process, increase accuracy and improve underwriting results and overall profitability.

Insurance carriers need a policy administration process capable of responding to changing business needs. Sutherland offers end-to-end policy lifecycle management, policy issuance, customer support, endorsements, renewals, reinstatements, and cancellations. Sutherland’s digital-first approach to policy administration helps carriers improve policy-holder experience, eliminate manual efforts, reduce the cost of operations, and foster growth.

Insurance companies look to improve claims operations, outcomes and customer experience. Sutherland helps insurance carriers comprehensively transform the end-to-end insurance claims process from FNOL to claims handling, adjudication, claims settlement and claims subrogation. We enable insurance carriers to create an automated, efficient and a frictionless claims process. Our digital solution for claims drives down costs while improving speed and accuracy.

Finance is a crucial function for insurance companies as their operations are constantly under scrutiny for compliance, visibility, reporting, costs and efficiency. Through an agile approach, Sutherland helps reinvent finance operations by incorporating predictive analytics and intelligent digital insurance solutions. We help CFOs in areas of performance management such as working capital optimization. We drive continuous improvement in finance processes such as DSO & DPO or set up successful operating models for credit control, billing, collections, premium reconciliation, suspense management, general accounting, financial reporting, and disbursements. Our solution reduces risks, simplifies operations and integrates back-office processes.

Insurance carriers need the best analytic models to assess their risks and financial impact. Sutherland combines industry expertise with cutting-edge analytics to offer actuarial services in risk estimation, catastrophe modeling, pricing, actuarial reserving, direct channel sales optimization and claims management. Our digital insurance solutions deliver on key performance metrics, such as geocoding accuracy, that go beyond industry benchmark levels.

Insurers need to deal with challenges in reporting, accounting and measurement models. Sutherland offers industry-leading expertise and services in suspense message processing, catastrophe coding, reinsurance bordereau preparation, outwards collection & reconciliation, aged debt, treaty & FAC set-up, endorsement processing, and statistics & report preparation."