Jul 29, 2020

Insurance Office of America: driving a digital revolution

Insurance Office of America
Insurtech
AI
Big Data
William Girling
2 min
Digital transformation
Insurance Office of America (IOA) has launched SimplyIOA, the first fully integrated quote comparison and purchasing platform in the US...

Insurance Office of America (IOA) has launched SimplyIOA, the first fully integrated quote comparison and purchasing platform in the US.

Headquartered in Florida and with over 60 offices spread across the US and London, UK, IOA is a fast-growing, innovative and much-celebrated presence in the American insurance industry. 

Offering coverage on home and car, the company states that it uses industry-leading technology underpinned by data science and machine learning to deliver an exceptionally easy and fast purchasing experience.

Customers will be able to compare and buy insurance from amongst the nation’s most trusted suppliers in as little as three minutes. “The result is an omnichannel, intuitive and fully responsive digital experience,” said the press release.

Changing how customers purchase coverage

Big data and artificial intelligence (AI) are two of the most transformative trends in modern InsurTech today. IOA’s launch of SimplyIOA indicates a solid grasp on the tech-based evolution currently underway and a willingness to innovate new ways of working.

“We have listened to our customers, engaged in focus groups, consulted with industry experts, invested in technology and created an innovative, one-of-a-kind quote and buy platform,” said IOA Chairman and CEO Heath Ritenour. 

“With SimplyIOA, our aim is to deliver convenience to consumers by fundamentally changing the conventional method of buying coverage.”

Delivering an optimal digital experience

To usher in these exciting new changes to its service, IOA has partnered with other luminaries in the insurance and financial services sectors, including Nationwide, Safeco, Universal Property & Casualty and others.

“This is an exciting time for Insurance Office of America as we transition into the InsurTech sector with SimplyIOA,” concluded Heath. 

“We will continue to refine our online offering to meet consumer expectations at every touchpoint, while delivering an optimal digital experience for purchasing insurance.”

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Jun 11, 2021

SLK Software: Optimising performance in the digital economy

SLKSoftware
AI
Automation
CNAInsurance
2 min
Recently featured in our profile of CNA Insurance, we take a closer look at how SLK Software is powering disruption in the digital era

Established in 2000 in Bengaluru, India, SLK Software recognises that fast-paced digital transformation is creating an unprecedentedly fertile period of opportunity for global businesses.

As such, with a firm belief in the power of simplification and automation to yield new and exciting experiences, the company has been challenging the status quo for over 20 years through an approach that is:

  • Relationship oriented
  • Strategically focused on a desired outcome
  • Reliant on automation tech

Believing in purposeful automation

SLK’s specialisation in automation tech is full spectrum: artificial intelligence (AI) and machine learning (ML), Computer Vision, Natural Language Processing (NLP), Robotic Process Automation (RPA), and more, are all part of its core competencies. 

Citing 90% productivity improvements, 30% business growth through better customer experiences, and up to 20x faster go-to-market capabilities, the reasons for its focus are clear.

The company currently serves the banking, financial services, insurance, retirement services, M&A, manufacturing, and supply chain sectors. Solutions offered include:

Accelerating workflow processes

In addition to these services, SLK offers three products/platforms: Avo Assist - RPA, Avo Assure - Test Automation, and Avo Discover - Process Discovery.

 

 

The latter is a tool specifically calibrated to enable business users an easy method for capturing document processes. This can occur across any application, with these individual tasks then seamlessly combined for both improved compliance and governance. 

Carol Castelloni, VP of Transformation at CNA Insurance, highlighted this as providing critical support in helping the company meet its business objectives:

“SLK’s Avo Discover tool accelerates how we can document workflow processes, measure impacts on enhancements, and identifies future automation opportunities.” Liberated from having to focus on these process-driven aspects of business, CNA Insurance has been able to refocus its attention on creative problem-solving instead.

Ultimately, this is the most important benefit that SLK brings: it optimises the back end so that clients can channel their energy towards what matters the most, customers.

Read more about SLK Software and CNA Insurance in the June 2021 edition of FinTech Magazine.

Pictured: SLK Software team (source)

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